Emperor Osmo
DeFi Research, Blockchain Metrics, Ex-Osmosis/Artemis
The Limitless Exchange token looks mispriced at 0.26x price-to-sales while revenue grows and a second buyback phase is pending. It generated $4.24M of revenue last month, about $50.8M annualized and 3.78x its market cap, with 100% retention. Phase 1 bought back $400K on the open market over eight weeks, funded by trading fees, and ended January 13. The team's last post, 141 days ago, said 'Stay tuned', and Phase 2 has not been announced. x.com
Limitless's token may be an opportunity after dumping on its airdrop, because revenue recently exploded to $42 million annualized against a roughly $10 million market cap. It is the second most profitable prediction market app behind Polymarket, buybacks flow to stakers or incentives, and tokenomics are unusually transparent. Some revenue likely comes from an incentive campaign. Risks are lost trust in the founder after the token launch drama and investor unlocks, which may be priced. x.com … Show more
Hyperliquid's valuation looks stretched against what serious markets pay for exchanges, and perpetual futures have been, and always will be, a niche product with no real moat. x.com
Plasma's token could follow Pump's path, where a heavily shorted unlock became a clearing event that forced shorts to buy back. Both launched on hype, sold off at once and became hated, with the unlock dump priced in for months. About 1.67B team and investor XPL tokens unlock at the September one-year cliff, and the selling may already be front-run. Unlike Pump, which used half its revenue to buy its token, XPL lacks a revenue engine buying underneath, so it has only the setup. x.com
