Benqi’s fee revenue surged to $123,000 (24h), about 3.3 times its usual level. Holders of $QI may wonder: what does this mean for its valuation?
My take: valuation is anchored in sustained revenue; a single-day peak can’t simply be annualized. The impact on fundamentals will only become apparent if revenue stays elevated for a while. Also, how much of the fees goes to the protocol and how much can flow to token holders determines their impact on the token’s value.
My take: valuation is anchored in sustained revenue; a single-day peak can’t simply be annualized. The impact on fundamentals will only become apparent if revenue stays elevated for a while. Also, how much of the fees goes to the protocol and how much can flow to token holders determines their impact on the token’s value.
