MKR is the most undervalued token in crypto, but it won’t be that way for long

- Captures nearly 40% of DeFi profits on Ethereum

- 3rd largest crypto app by revenue, behind ETH, SOL

- Holds the largest risk-weighted assets of any protocol, BlackRock et al. vie for portfolio allocations

- Trades at 1/3 of Ondo, Ethena FDV

- Locked in founder (Rune), who bought back tokens from VC dumpoors at the bottom

- Ultimate goal is to increase profitability/yield/stablecoin supply

- New MKR L1 to be available mid-term

- Redenomination to get new charts and reset unit bias

- No VC overhang - All VC sold off during bear market