Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
Crypto asset manager Grayscale said in a recent report that rising token supply at some cryptocurrencies could erode the economic benefits passed on to holders.
Grayscale presented a valuation framework that evaluates both protocol revenue and the scale of value returned to token holders. Under the framework, token holder yield is calculated by adding staking rewards and buybacks, subtracting the value of newly issued tokens, and dividing the result by circulating market capitalization. Among the protocols covered in the analysis as of Oct. 20, HYPE posted the highest token holder yield at 8.0%, while CRV had the lowest at -5.5%. On an adjusted yield basis, CAKE ranked first at 14.4%. Grayscale added that new token issuance and unlocks can offset the effects of buybacks and staking rewards, and said protocol revenue should be assessed separately from the economic benefits attributable to token holders.