I'll continue to highlight $PUMP, as the numbers look quite attractive compared to almost every protocol on the market today. - $PUMP trades at a P/S ratio: 2.6x, 30d revenue: $32.5M For context, what "expensive" looks like right now: - Chainlink: 110.6x P/S on $4.6M monthly revenue - Uniswap: 45.6x - Aave: 30.5x - PancakeSwap: 13.3x on $2.8M - Lido: 9.7x on $2.1M Pump is the only protocol above a $300M mktcap trading under 3x revenue.

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

The fact that @Pumpfun continues to put out numbers like these is just impressive. - DEX volume back to $20b, almost back to March highs. - $32M in revenue generated, the highest point since March. - $15.75M distributed to tokenholders $PUMP continues to trade at a 2.32x P/S. https://t.co/LfxsS7iLE9

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

The fact that @Pumpfun continues to put out numbers like these is just impressive. - DEX volume back to $20b, almost back to March highs. - $32M in revenue generated, the highest point since March. - $15.75M distributed to tokenholders $PUMP continues to trade at a 2.32x P/S. https://t.co/LfxsS7iLE9

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

Ondo Perps hit another ATH in daily volume. This is up from $79M three weeks ago, Monthly volume has crossed $3.98B (+198%) as it's live in 32 markets since the June 9 beta launch. The interesting part is that $ONDO’s current valuation is still based entirely on fees from its RWA business. Current market cap: $2.05B Current P/F multiple: 26.8x Now assume the market keeps that same multiple once perps begin generating fees: 2 bps take rate → $86M annualized fees → $2.31B implied market cap → 12.7% upside 5 bps take rate → $100.6M annualized fees → $2.70B implied market cap → 31.6% upside 10 bps take rate → $124.8M annualized fees → $3.35B implied market cap → 63.3% upside

Name & Symbol: Ondo ($ONDO)
Address: 0xfaba6f8e4a5e8ab82f62fe7c39859fa577269be3

Trump Accounts 🤝 $TA Fund

Name & Symbol: Trusta.AI ($TA)
Address: 0x539ae81a166e5e80aed211731563e549c411b140

Great breakdown from my bros at @castle_labs below 💪 Has been brutal times of late in ze brypto world... However many projects continue to kill it in various areas... @Mantle_Official is a prime example, in terms of their focus on tokenized equities and RWA's... With the former, they've seen huge success as of late via @xStocksFi and @Fluxion_network... And then also in terms of the new Pre-IPO Vaults from @OpenstockInc... But yeah... there's a tendency to view Mantle as a really old chain/project, but this really isn't the case... They only celebrated their 3rd birthday last week... And in many regards are just getting started... Especially when we consider that they began as primarily an ETH L2 and have only really been focusing on this big outward pivot into new directions over the last year or two... But yeah, highly worth reading the below... Will also link to a couple other things that are noteworthy as well... Note: Just random thoughts however we do work with Mantle via @thedailydegenhq and I own quite a bit of $MNT and etc, so as always I am bias :) But yeah, I personally think the tokenized equities + RWA stuff is only going to continue to continue growing by leaps and bounds in the coming years, so will be interesting to see how Mantle's focus on these areas works out in that regard... And then yeah make sure to follow the absolute gigabrains at @castle_labs!

Name & Symbol: Allo ($RWA)
Address: 0x9c8b5ca345247396bdfac0395638ca9045c6586e

A total of 50 protocols list a buyback-and-burn mechanism in their income statement. But only 7 protocols were above the $1M/month mark this month. Here’s where July stands, month over month. 1. @HyperliquidX: $34.25M bought back in July, a drop of 42.9% from June's $59.96M. $HYPE Price is down 10.2% over 30 days and down 9.3% over the last 7. 2. @Pumpfun: $13.69M bought back in July, up 12.2% from June. $PUMP Price is up 29.5% over 30 days despite falling 8.2% in the last week. 3. @chainlink: $4.61M bought back in July, essentially flat against June's $4.60M. $LINK Price up 14.8% over 30 days. 4. @Lighter_xyz: $1.78M bought back in July, down 36.8% from June's $2.82M. $LIT Price still up 29.3% over 30 days. 5. @ponsdotfamily: $1.67M routed to buyback-and-burn in July. $PONS token is 15 days old 6. @JupiterExchange: $1.31M bought back in July, up 4.3% from June. $JUP Price down 7.0% over 30 days. 7. @PancakeSwap: $1.21M in buy-back-and-burn in July, down 43.3% from June's $2.13M. $CAKE Price is roughly flat, up 1.9% over 30 days and down 2.0% over the last 7. Buyback size and price direction aren't moving together.

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

You’re not bullish enough on $TA Great narrative, with the potential to escape the echo chamber of CT.

Name & Symbol: Trusta.AI ($TA)
Address: 0x539ae81a166e5e80aed211731563e549c411b140

Something I've been thinking about when it comes to @EtherFi over the last few months. Everyone still talks about it like a liquid restaking token in a dying narrative. Meanwhile, the $ETHFI price is up 21% over the last 30 days, and nobody's really talking about why. It's early on the reprice imo, and it bounced where it should have. Here's the thing about ETHFI that a lot of people miss: it stopped being just a restaking bet a while ago, and it's now turned into a full-fledged DeFi Bank. Staking is still the base, ETH/BTC/stablecoin yield, sitting at 91% of the protocol's $3.64B in TVL. But Liquid (managed strategy vaults, $243.6M) and Cash (the non-custodial credit card, spend/collateral/borrow, $116.0M, plus a $148.4M Borrowing Market) are the parts actually generating the fees now. Trailing 365 days, that's $227.5M in fees and $52.5M in revenue on a protocol trading at a $407M market cap. If you run the numbers against just the part of the business that monetizes, you're at 0.80x. → On revenue alone, it's 3.04x P/F. So think about what you're actually holding here. A restaking token that everyone's still pricing like a dying narrative, sitting on a fee-generating business priced 3x cheaper than most of its peers, and the token's already up +21% this month. If restaking wakes back up even a little, or the market just starts pricing the Liquid/Cash side of the business properly, this doesn't stay at 3x for long. Some comparisons across peers: → Kelp, Renzo, and Puffer average around 5.6x. Apply that to $ETHFI's current fee run-rate, and the token reprices to roughly $1.30

Name & Symbol: PUFFER ($PUFFER)
Address: 0x87d00066cf131ff54b72b134a217d5401e5392b6

Something I've been thinking about when it comes to @EtherFi over the last few months. Everyone still talks about it like a liquid restaking token in a dying narrative. Meanwhile, the $ETHFI price is up 21% over the last 30 days, and nobody's really talking about why. It's early on the reprice imo, and it bounced where it should have. Here's the thing about ETHFI that a lot of people miss: it stopped being just a restaking bet a while ago, and it's now turned into a full-fledged DeFi Bank. Staking is still the base, ETH/BTC/stablecoin yield, sitting at 91% of the protocol's $3.64B in TVL. But Liquid (managed strategy vaults, $243.6M) and Cash (the non-custodial credit card, spend/collateral/borrow, $116.0M, plus a $148.4M Borrowing Market) are the parts actually generating the fees now. Trailing 365 days, that's $227.5M in fees and $52.5M in revenue on a protocol trading at a $407M market cap. If you run the numbers against just the part of the business that monetizes, you're at 0.80x. → On revenue alone, it's 3.04x P/F. So think about what you're actually holding here. A restaking token that everyone's still pricing like a dying narrative, sitting on a fee-generating business priced 3x cheaper than most of its peers, and the token's already up +21% this month. If restaking wakes back up even a little, or the market just starts pricing the Liquid/Cash side of the business properly, this doesn't stay at 3x for long. Some comparisons across peers: → Kelp, Renzo, and Puffer average around 5.6x. Apply that to $ETHFI's current fee run-rate, and the token reprices to roughly $1.30

Name & Symbol: PUFFER ($PUFFER)
Address: 0x87d00066cf131ff54b72b134a217d5401e5392b6

Your job for the rest of this quarter is to accumulate tokens of strong business with improving fundamentals, redirecting revenue back to tokenholders, and trading at a discounted valuation. My watchlist: - $PENDLE - $AERO - $AAVE - $SKY - $PUMP - $HYPE - $RAIL Any others I missed?

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

Your job for the rest of this quarter is to accumulate tokens of strong business with improving fundamentals, redirecting revenue back to tokenholders, and trading at a discounted valuation. My watchlist: - $PENDLE - $AERO - $AAVE - $SKY - $PUMP - $HYPE - $RAIL Any others I missed?

Name & Symbol: Aerodrome ($AERO)
Address: 0x940181a94a35a4569e4529a3cdfb74e38fd98631

A look at the DeFi tokens $ETH has outperformed over the past month: - HYPE: -9.8% - ASTER: -1.2% - AAVE: +4.7% - SKY: +14.0% - MORPHO: +8.7% - ENA: +12.2% - JUP: -20.0% - CAKE: +4.1% - AERO: -5.9% - CRV: +6.4% - JTO: -25.6% - DYDX: -24.1% - LINK: +15.0% Even several DeFi tokens that finished the month green still failed to keep pace with ETH. Starting to feel like $ETH season.

Name & Symbol: Morpho Token ($MORPHO)
Address: 0x58d97b57bb95320f9a05dc918aef65434969c2b2

A look at the DeFi tokens $ETH has outperformed over the past month: - HYPE: -9.8% - ASTER: -1.2% - AAVE: +4.7% - SKY: +14.0% - MORPHO: +8.7% - ENA: +12.2% - JUP: -20.0% - CAKE: +4.1% - AERO: -5.9% - CRV: +6.4% - JTO: -25.6% - DYDX: -24.1% - LINK: +15.0% Even several DeFi tokens that finished the month green still failed to keep pace with ETH. Starting to feel like $ETH season.

Name & Symbol: Aster ($ASTER)
Address: 0x000ae314e2a2172a039b26378814c252734f556a

A look at the DeFi tokens $ETH has outperformed over the past month: - HYPE: -9.8% - ASTER: -1.2% - AAVE: +4.7% - SKY: +14.0% - MORPHO: +8.7% - ENA: +12.2% - JUP: -20.0% - CAKE: +4.1% - AERO: -5.9% - CRV: +6.4% - JTO: -25.6% - DYDX: -24.1% - LINK: +15.0% Even several DeFi tokens that finished the month green still failed to keep pace with ETH. Starting to feel like $ETH season.

Name & Symbol: Aerodrome ($AERO)
Address: 0x940181a94a35a4569e4529a3cdfb74e38fd98631

Your job for the rest of this quarter is to accumulate tokens of strong business with improving fundamentals, redirecting revenue back to tokenholders, and trading at a discounted valuation. My watchlist: - $PENDLE - $AERO - $AAVE - $SKY - $PUMP - $HYPE - $RAIL Any others I missed?

Name & Symbol: Aerodrome ($AERO)
Address: 0x940181a94a35a4569e4529a3cdfb74e38fd98631

Your job for the rest of this quarter is to accumulate tokens of strong business with improving fundamentals, redirecting revenue back to tokenholders, and trading at a discounted valuation. My watchlist: - $PENDLE - $AERO - $AAVE - $SKY - $PUMP - $HYPE - $RAIL Any others I missed?

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

$PUMP is up 59% over the past 30 days. The perfect example of a highly reflexive token on virality across the ecosystem. > 30d fees: $79.8M, up 27% month over month. > 30d revenue: $29.9M, up 13%. > 30d DEX volume on the app: $18.4B. Market cap sits at $851.7M, which puts $PUMP at a 0.89x P/F ratio. Recent catalysts line up too: → Ansem disclosed a long position last week near $0.0017. → Jimothy went viral, pulling fresh attention back to Solana. → A 57B token unlock hit 121 wallets on July 25, and price barely moved, which tells you something about how absorbed the float already is. This likely continues: fees are still outpacing the token price, the token trades at under 1x forward fees, and the market hasn't repriced the platform for what it's actually doing in volume right now. Bullish for the trenches imo.

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

$PUMP is up 59% over the past 30 days. The perfect example of a highly reflexive token on virality across the ecosystem. > 30d fees: $79.8M, up 27% month over month. > 30d revenue: $29.9M, up 13%. > 30d DEX volume on the app: $18.4B. Market cap sits at $851.7M, which puts $PUMP at a 0.89x P/F ratio. Recent catalysts line up too: → Ansem disclosed a long position last week near $0.0017. → Jimothy went viral, pulling fresh attention back to Solana. → A 57B token unlock hit 121 wallets on July 25, and price barely moved, which tells you something about how absorbed the float already is. This likely continues: fees are still outpacing the token price, the token trades at under 1x forward fees, and the market hasn't repriced the platform for what it's actually doing in volume right now. Bullish for the trenches imo.

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

This week’s DeFi watchlist 👇 @SushiSwap Revenue is up 53.2% over 30 days and 23.5% this week, with 56.5% flowing to holders. Strong numbers coming from Robinhood Chain. @Balancer Revenue is up 42.9% this week and 35.5% over 30 days. The most likely driver is the BIP-918/BIP-919 tokenomics overhaul, which began implementation in April. The changes route 100% of fees to the Treasury and reduce V3 fees to attract more TVL. @Pumpfun Revenue is up 29.3% this week. BOOST launched July 21, reinjecting roughly 20% of liquidity into newly migrated coins through buybacks and burns. The team has also reported $5.9M to $7.2M in weekly revenue recently, with 50% funding $PUMP buybacks. @SkyEcosystem Revenue is up 7.8% over 30 days. Sky generated $107.35M in gross protocol revenue during Q2, up 10.5% year over year, while net revenue grew 25.1% to $40.09M. sUSDS supply reached $5.52B, up 149% YoY, and Spark is now helping power @RobinhoodApp’s USDG Earn product. @aave Revenue is up 3.1% this week, although it remains down 27.1% over 30 days. The Aave App proposal passed governance on July 13 and projects more than $15M in annual revenue by year two. Stable Vaults for fintech partners also launched July 9. @ethena Revenue rebounded 56.4% this week but remains down 50.9% over 30 days. Ethena launched USDe and sUSDe on Monad on July 16 with an Aave integration, shortly after adding liquidity to Robinhood Chain. @Morpho TVL is up 12.3% over 30 days. @JupiterExchange Still one of the more interesting large-cap distribution plays on Solana. Jupiter Gacha launched July 13 and generated $9M in volume within five days. Jupiter also announced a partnership with Ondo to bring more than 200 tokenized US stocks to Solana. @ConvexFinance Revenue jumped 248% this week but remains down 26.5% over 30 days. Curve TVL increased 7.7% to $1.54B, its strongest weekly gain in months, alongside a proposal to activate Llamalend V2 markets on Ethereum. Since Convex sits on top of Curve liquidity, stronger Curve activity could be feeding through. @OfficialApeXdex Revenue has started moving in the other direction. A $3.76M liquidation on July 20 benefited ApeX Omni’s Insurance & New User Vault, pushing displayed yields above 55%.

Name & Symbol: Ondo ($ONDO)
Address: 0xfaba6f8e4a5e8ab82f62fe7c39859fa577269be3

This week’s DeFi watchlist 👇 @SushiSwap Revenue is up 53.2% over 30 days and 23.5% this week, with 56.5% flowing to holders. Strong numbers coming from Robinhood Chain. @Balancer Revenue is up 42.9% this week and 35.5% over 30 days. The most likely driver is the BIP-918/BIP-919 tokenomics overhaul, which began implementation in April. The changes route 100% of fees to the Treasury and reduce V3 fees to attract more TVL. @Pumpfun Revenue is up 29.3% this week. BOOST launched July 21, reinjecting roughly 20% of liquidity into newly migrated coins through buybacks and burns. The team has also reported $5.9M to $7.2M in weekly revenue recently, with 50% funding $PUMP buybacks. @SkyEcosystem Revenue is up 7.8% over 30 days. Sky generated $107.35M in gross protocol revenue during Q2, up 10.5% year over year, while net revenue grew 25.1% to $40.09M. sUSDS supply reached $5.52B, up 149% YoY, and Spark is now helping power @RobinhoodApp’s USDG Earn product. @aave Revenue is up 3.1% this week, although it remains down 27.1% over 30 days. The Aave App proposal passed governance on July 13 and projects more than $15M in annual revenue by year two. Stable Vaults for fintech partners also launched July 9. @ethena Revenue rebounded 56.4% this week but remains down 50.9% over 30 days. Ethena launched USDe and sUSDe on Monad on July 16 with an Aave integration, shortly after adding liquidity to Robinhood Chain. @Morpho TVL is up 12.3% over 30 days. @JupiterExchange Still one of the more interesting large-cap distribution plays on Solana. Jupiter Gacha launched July 13 and generated $9M in volume within five days. Jupiter also announced a partnership with Ondo to bring more than 200 tokenized US stocks to Solana. @ConvexFinance Revenue jumped 248% this week but remains down 26.5% over 30 days. Curve TVL increased 7.7% to $1.54B, its strongest weekly gain in months, alongside a proposal to activate Llamalend V2 markets on Ethereum. Since Convex sits on top of Curve liquidity, stronger Curve activity could be feeding through. @OfficialApeXdex Revenue has started moving in the other direction. A $3.76M liquidation on July 20 benefited ApeX Omni’s Insurance & New User Vault, pushing displayed yields above 55%.

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

This week’s DeFi watchlist 👇 @SushiSwap Revenue is up 53.2% over 30 days and 23.5% this week, with 56.5% flowing to holders. Strong numbers coming from Robinhood Chain. @Balancer Revenue is up 42.9% this week and 35.5% over 30 days. The most likely driver is the BIP-918/BIP-919 tokenomics overhaul, which began implementation in April. The changes route 100% of fees to the Treasury and reduce V3 fees to attract more TVL. @Pumpfun Revenue is up 29.3% this week. BOOST launched July 21, reinjecting roughly 20% of liquidity into newly migrated coins through buybacks and burns. The team has also reported $5.9M to $7.2M in weekly revenue recently, with 50% funding $PUMP buybacks. @SkyEcosystem Revenue is up 7.8% over 30 days. Sky generated $107.35M in gross protocol revenue during Q2, up 10.5% year over year, while net revenue grew 25.1% to $40.09M. sUSDS supply reached $5.52B, up 149% YoY, and Spark is now helping power @RobinhoodApp’s USDG Earn product. @aave Revenue is up 3.1% this week, although it remains down 27.1% over 30 days. The Aave App proposal passed governance on July 13 and projects more than $15M in annual revenue by year two. Stable Vaults for fintech partners also launched July 9. @ethena Revenue rebounded 56.4% this week but remains down 50.9% over 30 days. Ethena launched USDe and sUSDe on Monad on July 16 with an Aave integration, shortly after adding liquidity to Robinhood Chain. @Morpho TVL is up 12.3% over 30 days. @JupiterExchange Still one of the more interesting large-cap distribution plays on Solana. Jupiter Gacha launched July 13 and generated $9M in volume within five days. Jupiter also announced a partnership with Ondo to bring more than 200 tokenized US stocks to Solana. @ConvexFinance Revenue jumped 248% this week but remains down 26.5% over 30 days. Curve TVL increased 7.7% to $1.54B, its strongest weekly gain in months, alongside a proposal to activate Llamalend V2 markets on Ethereum. Since Convex sits on top of Curve liquidity, stronger Curve activity could be feeding through. @OfficialApeXdex Revenue has started moving in the other direction. A $3.76M liquidation on July 20 benefited ApeX Omni’s Insurance & New User Vault, pushing displayed yields above 55%.

Name & Symbol: Morpho Token ($MORPHO)
Address: 0x58d97b57bb95320f9a05dc918aef65434969c2b2

This week’s DeFi watchlist 👇 @SushiSwap Revenue is up 53.2% over 30 days and 23.5% this week, with 56.5% flowing to holders. Strong numbers coming from Robinhood Chain. @Balancer Revenue is up 42.9% this week and 35.5% over 30 days. The most likely driver is the BIP-918/BIP-919 tokenomics overhaul, which began implementation in April. The changes route 100% of fees to the Treasury and reduce V3 fees to attract more TVL. @Pumpfun Revenue is up 29.3% this week. BOOST launched July 21, reinjecting roughly 20% of liquidity into newly migrated coins through buybacks and burns. The team has also reported $5.9M to $7.2M in weekly revenue recently, with 50% funding $PUMP buybacks. @SkyEcosystem Revenue is up 7.8% over 30 days. Sky generated $107.35M in gross protocol revenue during Q2, up 10.5% year over year, while net revenue grew 25.1% to $40.09M. sUSDS supply reached $5.52B, up 149% YoY, and Spark is now helping power @RobinhoodApp’s USDG Earn product. @aave Revenue is up 3.1% this week, although it remains down 27.1% over 30 days. The Aave App proposal passed governance on July 13 and projects more than $15M in annual revenue by year two. Stable Vaults for fintech partners also launched July 9. @ethena Revenue rebounded 56.4% this week but remains down 50.9% over 30 days. Ethena launched USDe and sUSDe on Monad on July 16 with an Aave integration, shortly after adding liquidity to Robinhood Chain. @Morpho TVL is up 12.3% over 30 days. @JupiterExchange Still one of the more interesting large-cap distribution plays on Solana. Jupiter Gacha launched July 13 and generated $9M in volume within five days. Jupiter also announced a partnership with Ondo to bring more than 200 tokenized US stocks to Solana. @ConvexFinance Revenue jumped 248% this week but remains down 26.5% over 30 days. Curve TVL increased 7.7% to $1.54B, its strongest weekly gain in months, alongside a proposal to activate Llamalend V2 markets on Ethereum. Since Convex sits on top of Curve liquidity, stronger Curve activity could be feeding through. @OfficialApeXdex Revenue has started moving in the other direction. A $3.76M liquidation on July 20 benefited ApeX Omni’s Insurance & New User Vault, pushing displayed yields above 55%.

Name & Symbol: Ondo ($ONDO)
Address: 0xfaba6f8e4a5e8ab82f62fe7c39859fa577269be3

This week’s DeFi watchlist 👇 @SushiSwap Revenue is up 53.2% over 30 days and 23.5% this week, with 56.5% flowing to holders. Strong numbers coming from Robinhood Chain. @Balancer Revenue is up 42.9% this week and 35.5% over 30 days. The most likely driver is the BIP-918/BIP-919 tokenomics overhaul, which began implementation in April. The changes route 100% of fees to the Treasury and reduce V3 fees to attract more TVL. @Pumpfun Revenue is up 29.3% this week. BOOST launched July 21, reinjecting roughly 20% of liquidity into newly migrated coins through buybacks and burns. The team has also reported $5.9M to $7.2M in weekly revenue recently, with 50% funding $PUMP buybacks. @SkyEcosystem Revenue is up 7.8% over 30 days. Sky generated $107.35M in gross protocol revenue during Q2, up 10.5% year over year, while net revenue grew 25.1% to $40.09M. sUSDS supply reached $5.52B, up 149% YoY, and Spark is now helping power @RobinhoodApp’s USDG Earn product. @aave Revenue is up 3.1% this week, although it remains down 27.1% over 30 days. The Aave App proposal passed governance on July 13 and projects more than $15M in annual revenue by year two. Stable Vaults for fintech partners also launched July 9. @ethena Revenue rebounded 56.4% this week but remains down 50.9% over 30 days. Ethena launched USDe and sUSDe on Monad on July 16 with an Aave integration, shortly after adding liquidity to Robinhood Chain. @Morpho TVL is up 12.3% over 30 days. @JupiterExchange Still one of the more interesting large-cap distribution plays on Solana. Jupiter Gacha launched July 13 and generated $9M in volume within five days. Jupiter also announced a partnership with Ondo to bring more than 200 tokenized US stocks to Solana. @ConvexFinance Revenue jumped 248% this week but remains down 26.5% over 30 days. Curve TVL increased 7.7% to $1.54B, its strongest weekly gain in months, alongside a proposal to activate Llamalend V2 markets on Ethereum. Since Convex sits on top of Curve liquidity, stronger Curve activity could be feeding through. @OfficialApeXdex Revenue has started moving in the other direction. A $3.76M liquidation on July 20 benefited ApeX Omni’s Insurance & New User Vault, pushing displayed yields above 55%.

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

$AERO is down 19.8% over the past 30 days; meanwhile, $UNI is up +26% over the same timeframe. Uniswap's launch on Robinhood chain has already generated over $6B in cumulative swap volume. You can see the AERO fundamentals shift over the past month: - Fees: -32.8% - Revenue: -15.2% - DEX volume: -30.1% - TVL: -1.0% - $AERO Price: -19.8% But if you zoom out, the fundamentals actually still look quite healthy - Fees: +9.3% - Revenue: +2.0% - DEX volume: +21.4% - $AERO 1.4% Price fell 6x harder than the underlying 90d fundamentals over the shorter window, something to consider. Still, we're seeing some positive catalysts this month that the market had ignored completely. > AER's buyback engine launched with 214,000 $AERO bought back, 190M locked total. > A New economics dashboard shipped > $35M distributed to voters YTD Most importantly, the Unification upgrade is rolling out: Predictive Allocation, Slipstream V3, Metaswaps, MEV-resistant execution. I remain convinced the market is overreacting; Aerodrome continues to trade at discounted valuations.

Name & Symbol: Aerodrome ($AERO)
Address: 0x940181a94a35a4569e4529a3cdfb74e38fd98631

DeFi fee momentum this month by : Lending ($105M in fees): - @Morpho +37% - @maplefinance +4% - @0xfluid +3.4% DEX Aggregators ($6.4M in fees): - @JupiterExchange +25% - @MayanFinance +12% - @SushiSwap +10% Liquid Staking ($84M in fees): - @jito_sol +5.6% The fees are telling you where the market has been moving the past month, with Solana and Robinhood leading.

Name & Symbol: Morpho Token ($MORPHO)
Address: 0x58d97b57bb95320f9a05dc918aef65434969c2b2

.@maplefinance has been outperforming this month, so I took a closer look at what’s driving $SYRUP higher and whether there’s still an opportunity here. The protocol is generating $118.2M in annualized fees against a $217.3M market cap. That puts $SYRUP at just 1.84x fees. The token is up +36% over the past 30 days, but it is still down 19.4% over 90 days. The recent move is tied to fundamentals: > MIP-021 passed with 99.97% approval, turning $SYRUP buybacks into a rules-based process funded by a fixed share of protocol revenue. This went live July 13, with the first purchases scheduled for August. The underlying business is also growing nicely: • TVL sits at $2.28B, up 8.2% in 30 days • $1.91B is actively borrowed • Fees are up 16.6% over the same period That level of borrowing suggests Maple’s capital is being put to work. More demand for loans means more fees, more revenue, and more capital available for buybacks. This is where the valuation gets interesting: Aave generates around 2.9x Maple’s annualized fees, but trades at 6.8x the market cap. • Aave: 4.29x P/F • Morpho: 4.18x P/F • Maple: 1.84x P/F At Aave’s multiple, Maple would be worth roughly $507M. At Morpho’s, around $494M. Both are about 2.3x above where $SYRUP trades today. The price jump is pricing in the August buybacks; imo this is the start of a rerating for what is a very profitable and sustainable business.

Name & Symbol: Syrup Token ($SYRUP)
Address: 0x643c4e15d7d62ad0abec4a9bd4b001aa3ef52d66

.@maplefinance has been outperforming this month, so I took a closer look at what’s driving $SYRUP higher and whether there’s still an opportunity here. The protocol is generating $118.2M in annualized fees against a $217.3M market cap. That puts $SYRUP at just 1.84x fees. The token is up +36% over the past 30 days, but it is still down 19.4% over 90 days. The recent move is tied to fundamentals: > MIP-021 passed with 99.97% approval, turning $SYRUP buybacks into a rules-based process funded by a fixed share of protocol revenue. This went live July 13, with the first purchases scheduled for August. The underlying business is also growing nicely: • TVL sits at $2.28B, up 8.2% in 30 days • $1.91B is actively borrowed • Fees are up 16.6% over the same period That level of borrowing suggests Maple’s capital is being put to work. More demand for loans means more fees, more revenue, and more capital available for buybacks. This is where the valuation gets interesting: Aave generates around 2.9x Maple’s annualized fees, but trades at 6.8x the market cap. • Aave: 4.29x P/F • Morpho: 4.18x P/F • Maple: 1.84x P/F At Aave’s multiple, Maple would be worth roughly $507M. At Morpho’s, around $494M. Both are about 2.3x above where $SYRUP trades today. The price jump is pricing in the August buybacks; imo this is the start of a rerating for what is a very profitable and sustainable business.

Name & Symbol: Morpho Token ($MORPHO)
Address: 0x58d97b57bb95320f9a05dc918aef65434969c2b2

There's a case to be made that as $ETH reclaims $2000 and continues to outperform BTC, alts will continue to push higher. So far, price is moving: > 7d: ETH +8.5% vs BTC +6.9% > 30d: ETH +10.6% vs BTC +3.5% > Still watching 90d as it's negative with ETH -17.3% vs BTC -12.9% Some alts to watch that have been outperforming this past month. → $KAITO: +106.4% → $ADI: +66.2% → $LIT: +48.8% → $LDO: +44.1% → $SYRUP: +39.5% → $PUMP: +38.8% → $ETHFI: +30.1% → $AAVE: +25.5% → $UNI: +22.0% → $ONDO: +18.9% → $PENDLE: +16.5% → $MORPHO: +11.2%

Name & Symbol: Morpho Token ($MORPHO)
Address: 0x58d97b57bb95320f9a05dc918aef65434969c2b2

There's a case to be made that as $ETH reclaims $2000 and continues to outperform BTC, alts will continue to push higher. So far, price is moving: > 7d: ETH +8.5% vs BTC +6.9% > 30d: ETH +10.6% vs BTC +3.5% > Still watching 90d as it's negative with ETH -17.3% vs BTC -12.9% Some alts to watch that have been outperforming this past month. → $KAITO: +106.4% → $ADI: +66.2% → $LIT: +48.8% → $LDO: +44.1% → $SYRUP: +39.5% → $PUMP: +38.8% → $ETHFI: +30.1% → $AAVE: +25.5% → $UNI: +22.0% → $ONDO: +18.9% → $PENDLE: +16.5% → $MORPHO: +11.2%

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

There's a case to be made that as $ETH reclaims $2000 and continues to outperform BTC, alts will continue to push higher. So far, price is moving: > 7d: ETH +8.5% vs BTC +6.9% > 30d: ETH +10.6% vs BTC +3.5% > Still watching 90d as it's negative with ETH -17.3% vs BTC -12.9% Some alts to watch that have been outperforming this past month. → $KAITO: +106.4% → $ADI: +66.2% → $LIT: +48.8% → $LDO: +44.1% → $SYRUP: +39.5% → $PUMP: +38.8% → $ETHFI: +30.1% → $AAVE: +25.5% → $UNI: +22.0% → $ONDO: +18.9% → $PENDLE: +16.5% → $MORPHO: +11.2%

Name & Symbol: Ondo ($ONDO)
Address: 0xfaba6f8e4a5e8ab82f62fe7c39859fa577269be3

There's a case to be made that as $ETH reclaims $2000 and continues to outperform BTC, alts will continue to push higher. So far, price is moving: > 7d: ETH +8.5% vs BTC +6.9% > 30d: ETH +10.6% vs BTC +3.5% > Still watching 90d as it's negative with ETH -17.3% vs BTC -12.9% Some alts to watch that have been outperforming this past month. → $KAITO: +106.4% → $ADI: +66.2% → $LIT: +48.8% → $LDO: +44.1% → $SYRUP: +39.5% → $PUMP: +38.8% → $ETHFI: +30.1% → $AAVE: +25.5% → $UNI: +22.0% → $ONDO: +18.9% → $PENDLE: +16.5% → $MORPHO: +11.2%

Name & Symbol: Ondo ($ONDO)
Address: 0xfaba6f8e4a5e8ab82f62fe7c39859fa577269be3

There's a case to be made that as $ETH reclaims $2000 and continues to outperform BTC, alts will continue to push higher. So far, price is moving: > 7d: ETH +8.5% vs BTC +6.9% > 30d: ETH +10.6% vs BTC +3.5% > Still watching 90d as it's negative with ETH -17.3% vs BTC -12.9% Some alts to watch that have been outperforming this past month. → $KAITO: +106.4% → $ADI: +66.2% → $LIT: +48.8% → $LDO: +44.1% → $SYRUP: +39.5% → $PUMP: +38.8% → $ETHFI: +30.1% → $AAVE: +25.5% → $UNI: +22.0% → $ONDO: +18.9% → $PENDLE: +16.5% → $MORPHO: +11.2%

Name & Symbol: Syrup Token ($SYRUP)
Address: 0x643c4e15d7d62ad0abec4a9bd4b001aa3ef52d66

There's a case to be made that as $ETH reclaims $2000 and continues to outperform BTC, alts will continue to push higher. So far, price is moving: > 7d: ETH +8.5% vs BTC +6.9% > 30d: ETH +10.6% vs BTC +3.5% > Still watching 90d as it's negative with ETH -17.3% vs BTC -12.9% Some alts to watch that have been outperforming this past month. → $KAITO: +106.4% → $ADI: +66.2% → $LIT: +48.8% → $LDO: +44.1% → $SYRUP: +39.5% → $PUMP: +38.8% → $ETHFI: +30.1% → $AAVE: +25.5% → $UNI: +22.0% → $ONDO: +18.9% → $PENDLE: +16.5% → $MORPHO: +11.2%

Name & Symbol: Morpho Token ($MORPHO)
Address: 0x58d97b57bb95320f9a05dc918aef65434969c2b2

There's a case to be made that as $ETH reclaims $2000 and continues to outperform BTC, alts will continue to push higher. So far, price is moving: > 7d: ETH +8.5% vs BTC +6.9% > 30d: ETH +10.6% vs BTC +3.5% > Still watching 90d as it's negative with ETH -17.3% vs BTC -12.9% Some alts to watch that have been outperforming this past month. → $KAITO: +106.4% → $ADI: +66.2% → $LIT: +48.8% → $LDO: +44.1% → $SYRUP: +39.5% → $PUMP: +38.8% → $ETHFI: +30.1% → $AAVE: +25.5% → $UNI: +22.0% → $ONDO: +18.9% → $PENDLE: +16.5% → $MORPHO: +11.2%

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

$PUMP is a live case study in unlock-driven shilling. On July 14, 92.5B tokens unlocked: → 32.5B to investors → 50B to the team → 10B to the community and ecosystem Supply expands by 86.6B tokens this month. You would expect significant selling pressure. Instead, $PUMP is up 42% this month and 30% over the past week. Then the bullish posts started with Ansem disclosing a position. The mechanism is simple. Team and investors just got a fresh batch of tokens they can sell. They need buyers and KOLs create buyers. To be fair, the fundamentals give bulls something real to push. $PUMP generated $28M in revenue over the last 30 days, against a $786M market cap; that puts it near 2.3x annualized sales. Cheap compared with names like $HYPE. But the other side of the trade is just as clear. Weekly volume has been trending lower for months; Solana launchpad activity is cooling, and another 6.875B tokens unlock on August 12. That's roughly $14M in new supply at current prices.

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

Here's your Crypto Watchlist for the Week: $OVER: Revenue is up 16.5% over 30 days. The World Cup final helped push prediction-market volume above $50B this month. Watching how much activity sticks once the event ends. $APEX: Revenue jumped 263% over the past week. New TradFi perpetuals, including Lumentum, Rocket Lab, and SOXL, launched this month alongside KYC-free fiat deposits. $PENDLE: TVL is up 20.5% to $1.11B over 30 days, while @boros_fi crossed $20B in cumulative notional volume. $YB: Fees are down 48.5%, but price continues to hold up. Deposits reportedly increased 120% in two weeks as BTC holders looked for yield without selling. $VIRTUAL: Robinhood Chain reportedly crossed $100M in AI-agent trading volume within two weeks of launch. Virtuals sits underneath that activity as the agent infrastructure layer. $ZRO: A $19.2M unlock arrives July 20 for Strategic Partners and Core Contributors. $PUMP: Generated $24.5M in revenue over 30 days, with cumulative buybacks burning 15% of supply. Also watching the July 14 unlock of 82.5B tokens and the reduction in buybacks from 100% to 50% of net revenue. $SUSHI: Launched a Robinhood Chain launchpad that distributes SUSHI to launch-token holders. It also shipped decentralized stop-loss orders across four chains in late June. $JUP: The final community feedback round for its spot redesign closed July 16. The public rollout should be the next catalyst. $AERO: The Velodrome merger is targeted for later this month. Big themes I’m watching: • Whether prediction-market volume holds after the World Cup final • Robinhood Chain’s early agent activity turns into durable liquidity • How markets absorb the $ZRO and $PUMP supply events • Whether the Aero/Velodrome migration creates volatility around liquidity and emissions What am I missing?

Name & Symbol: Aerodrome ($AERO)
Address: 0x940181a94a35a4569e4529a3cdfb74e38fd98631

Here's your Crypto Watchlist for the Week: $OVER: Revenue is up 16.5% over 30 days. The World Cup final helped push prediction-market volume above $50B this month. Watching how much activity sticks once the event ends. $APEX: Revenue jumped 263% over the past week. New TradFi perpetuals, including Lumentum, Rocket Lab, and SOXL, launched this month alongside KYC-free fiat deposits. $PENDLE: TVL is up 20.5% to $1.11B over 30 days, while @boros_fi crossed $20B in cumulative notional volume. $YB: Fees are down 48.5%, but price continues to hold up. Deposits reportedly increased 120% in two weeks as BTC holders looked for yield without selling. $VIRTUAL: Robinhood Chain reportedly crossed $100M in AI-agent trading volume within two weeks of launch. Virtuals sits underneath that activity as the agent infrastructure layer. $ZRO: A $19.2M unlock arrives July 20 for Strategic Partners and Core Contributors. $PUMP: Generated $24.5M in revenue over 30 days, with cumulative buybacks burning 15% of supply. Also watching the July 14 unlock of 82.5B tokens and the reduction in buybacks from 100% to 50% of net revenue. $SUSHI: Launched a Robinhood Chain launchpad that distributes SUSHI to launch-token holders. It also shipped decentralized stop-loss orders across four chains in late June. $JUP: The final community feedback round for its spot redesign closed July 16. The public rollout should be the next catalyst. $AERO: The Velodrome merger is targeted for later this month. Big themes I’m watching: • Whether prediction-market volume holds after the World Cup final • Robinhood Chain’s early agent activity turns into durable liquidity • How markets absorb the $ZRO and $PUMP supply events • Whether the Aero/Velodrome migration creates volatility around liquidity and emissions What am I missing?

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

Here's your Crypto Watchlist for the Week: $OVER: Revenue is up 16.5% over 30 days. The World Cup final helped push prediction-market volume above $50B this month. Watching how much activity sticks once the event ends. $APEX: Revenue jumped 263% over the past week. New TradFi perpetuals, including Lumentum, Rocket Lab, and SOXL, launched this month alongside KYC-free fiat deposits. $PENDLE: TVL is up 20.5% to $1.11B over 30 days, while @boros_fi crossed $20B in cumulative notional volume. $YB: Fees are down 48.5%, but price continues to hold up. Deposits reportedly increased 120% in two weeks as BTC holders looked for yield without selling. $VIRTUAL: Robinhood Chain reportedly crossed $100M in AI-agent trading volume within two weeks of launch. Virtuals sits underneath that activity as the agent infrastructure layer. $ZRO: A $19.2M unlock arrives July 20 for Strategic Partners and Core Contributors. $PUMP: Generated $24.5M in revenue over 30 days, with cumulative buybacks burning 15% of supply. Also watching the July 14 unlock of 82.5B tokens and the reduction in buybacks from 100% to 50% of net revenue. $SUSHI: Launched a Robinhood Chain launchpad that distributes SUSHI to launch-token holders. It also shipped decentralized stop-loss orders across four chains in late June. $JUP: The final community feedback round for its spot redesign closed July 16. The public rollout should be the next catalyst. $AERO: The Velodrome merger is targeted for later this month. Big themes I’m watching: • Whether prediction-market volume holds after the World Cup final • Robinhood Chain’s early agent activity turns into durable liquidity • How markets absorb the $ZRO and $PUMP supply events • Whether the Aero/Velodrome migration creates volatility around liquidity and emissions What am I missing?

Name & Symbol: Virtuals Protocol ($VIRTUAL)
Address: 0x0b3e328455c4059eeb9e3f84b5543f74e24e7e1b

I think @virtuals_io is quietly becoming one of the most interesting plays on Robinhood Chain. Most people looking at the ecosystem are focused on TVL, where Morpho, Uniswap, and Spark dominate. Fees tell a different story. Over the last 30 days, Virtuals generated roughly $1.1M in fees on @RobinhoodApp, making it the second-largest fee generator on the chain behind Uniswap. More interestingly, Robinhood Chain is now generating 6.6x more fees for Virtuals than Base. The volume gap is even wider: → Robinhood Chain: $13.9M → Base: $52.8K That is a meaningful shift for a protocol whose activity has historically been concentrated on Base. The fees come from Virtuals’ new 1% platform fee, collected in USDG and routed directly to its tax wallet. That is real treasury revenue, although it does not flow directly to $VIRTUAL holders. The token captures value through a separate flywheel: → Agent launches pair with locked $VIRTUAL → Buying agent tokens routes through $VIRTUAL → ACP taxes fund buybacks and burns The remaining question is whether Robinhood Chain’s growing fee stream eventually feeds directly into that mechanism. Virtuals has gone from barely registering on Base to becoming Robinhood Chain’s second-largest fee-generating protocol. Feels like the market is still sleeping on it.

Name & Symbol: Virtuals Protocol ($VIRTUAL)
Address: 0x0b3e328455c4059eeb9e3f84b5543f74e24e7e1b

Price action since: Since the post (July 9 → July 14) ‑3.96% Since the unlock day (July 12 → July 14)-2.80% Current price: $0.00142, market cap ~$570M $PUMP transfers are on the move.

Name & Symbol: Pump.fun ($PUMP)
Address: pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn

DeFi's Q3 rally decoupled from revenue. Most of the top performers this quarter moved on narrative, not fees. $VELVET was up 487% despite generating $0 in revenue. $DEXE also rose +312% with no tracked revenue either. Across the 57 largest DeFi tokens, the correlation between price returns and 90 day revenue growth was just 0.29. The correlation between price and total revenue was actually negative at -0.09. Even more telling: > Tokens with tracked revenue returned an average of 25.7% this quarter. > Tokens with no tracked revenue returned 28.3%. Just generating revenue gave investors no advantage. Some of DeFi’s highest-revenue protocols rallied even as their businesses slowed: > $HYPE: price +49%, revenue -9.7% > $JTO: price +110%, revenue -53.7% > $LIT: price +144%, revenue -43.1% > $JUP: price +25%, revenue -33.9% The market was willing to look past shrinking revenue and price in future growth, tokenomics updates, upcoming catalysts, or a stronger narrative. Fundamentals only seemed to matter at the extremes: > $PENDLE: price +44%, revenue +38% > $RAIN: price +85%, revenue +857% > $EDGE: price -57%, revenue -66% When the business suffered a dramatic change, price generally followed. For everything in the middle, revenue and price did not matter. This quarter was driven by expectations, positioning, and narrative. Current cash flow was mostly background noise.

Name & Symbol: edgeX ($EDGE)
Address: 0x70f2eadf1ca1969ff42b0c78e9da519e8937cbaf

DeFi's Q3 rally decoupled from revenue. Most of the top performers this quarter moved on narrative, not fees. $VELVET was up 487% despite generating $0 in revenue. $DEXE also rose +312% with no tracked revenue either. Across the 57 largest DeFi tokens, the correlation between price returns and 90 day revenue growth was just 0.29. The correlation between price and total revenue was actually negative at -0.09. Even more telling: > Tokens with tracked revenue returned an average of 25.7% this quarter. > Tokens with no tracked revenue returned 28.3%. Just generating revenue gave investors no advantage. Some of DeFi’s highest-revenue protocols rallied even as their businesses slowed: > $HYPE: price +49%, revenue -9.7% > $JTO: price +110%, revenue -53.7% > $LIT: price +144%, revenue -43.1% > $JUP: price +25%, revenue -33.9% The market was willing to look past shrinking revenue and price in future growth, tokenomics updates, upcoming catalysts, or a stronger narrative. Fundamentals only seemed to matter at the extremes: > $PENDLE: price +44%, revenue +38% > $RAIN: price +85%, revenue +857% > $EDGE: price -57%, revenue -66% When the business suffered a dramatic change, price generally followed. For everything in the middle, revenue and price did not matter. This quarter was driven by expectations, positioning, and narrative. Current cash flow was mostly background noise.

Name & Symbol: Velvet ($VELVET)
Address: 0x8b194370825e37b33373e74a41009161808c1488

Robinhood Chain is one week old, but the numbers already look interesting. The chain now holds $150.9M in TVL, with @Morpho, @Uniswap, and @Noxa_Fi accounting for 96% of it. Against that liquidity, it is processing $875.5M in daily DEX volume. → For context, Solana does roughly $1.57B per day with $4.86B in TVL. That means Robinhood Chain is producing more than half of Solana’s daily volume with just 3% of the capital. The difference becomes even clearer when you look at capital velocity. Daily DEX volume is equal to 580% of Robinhood Chain’s TVL. → Solana sits at 32% →Base is closer to 19% In other words, every dollar on @RobinhoodApp Chain is turning over far more frequently. Capital is constantly moving through trades, pools, and launches. Fee generation tells a similar story. Robinhood Chain’s 30-day app fees are equal to 16.7% of TVL. → Solana, already one of the strongest fee-generating ecosystems in crypto, sits at 3.8%. → Base is at 1.1%. But the concentration is impossible to ignore. Solana’s three largest protocols, Jupiter, Sanctum, and Kamino, represent roughly 30% of tracked TVL across an ecosystem with hundreds of applications. Robinhood Chain’s top three control 96%. Chain-level revenue is still small. Robinhood Chain generated $644K over the last 30 days, compared with $1.59M for Solana and $2.21M for Base. So the real question is what happens next. Robinhood Chain is already generating Solana-scale dollar volume on a fraction of the liquidity, but most of that activity is concentrated in a handful of protocols and driven by a market that is only one week old. When the launch excitement and memecoin activity cool down, does the volume hold, or was this just hype mistaken for adoption?

Name & Symbol: Kamino ($KMNO)
Address: KMNo3nJsBXfcpJTVhZcXLW7RmTwTt4GVFE7suUBo9sS

A list of interesting projects building across AI agents for trading, yield automation, on-chain commerce, and DeFi infrastructure on @RobinhoodApp chain. $RANGER ( @RangerAI_tech) The AI intelligence layer for Robinhood Chain. It helps users identify opportunities across DeFi, RWAs, and on-chain commerce, with token holders unlocking premium models, advanced analytics, and ecosystem-wide AI tools. $RPP402 ( @rpp402) An open commerce protocol that lets AI agents discover services, negotiate pricing, and settle payments on Robinhood Chain. If AI agents become real economic participants, they'll need a standard way to transact, and that's exactly what RPP402 is building. $4663 ( @4663fun) Launchpad on Robinhood using single-sided concentrated liquidity on Uniswap V3, offering deployers 50% fees along with the fees supply of the tokens they deploy; traders earn Feather points. $HOODETF ( @Hood_ETF) An on-chain ETF giving users diversified exposure to the Robinhood ecosystem through a single asset, with AI-assisted portfolio management reducing the need for manual rebalancing. $RAXOL ( @axol_io) A privacy-first AI commerce agent built around the Agent Commerce Protocol, enabling autonomous agents to safely discover services, negotiate, and transact on-chain without sacrificing user control. $VEX ( @ProjectVEXai) A local-first AI trading runtime where the model proposes trades, your rules decide what executes, and every action is recorded on-chain. Built for traders who want AI automation without giving up custody or control. $MLY ( @GoMintly) An AI yield agent that automatically moves capital across audited DeFi strategies while your assets remain in contracts only you control. Designed to automate yield without introducing custodial risk. $STAR ( @Stargazer_did) An AI intelligence layer that analyzes holders, insiders, bots, and wallet behavior to help traders understand who's actually behind a token before the market catches on. $VENA ( @VenaHub) An NFT-powered mining ecosystem built around VPICK NFTs, creating long-term participation and on-chain incentives within the Robinhood Chain ecosystem. Feather ( @feather_fi) Permissionless staking infrastructure for Robinhood Chain. Any Noxa-launched token can create a staking pool with pre-funded rewards, giving projects an easy way to bootstrap long-term holder incentives. $BURGERS ( @BurgersOnBase) A transparent on-chain charity initiative bringing verifiable donations and real-world impact to Robinhood Chain through fully traceable DeFi infrastructure. Data: @RangerAI_tech

Name & Symbol: Starpower Network ($STAR)
Address: 0x8fce7206e3043dd360f115afa956ee31b90b787c

Here's your Crypto Watchlist for the Week: The main theme I'm watching: security scares versus real adoption. One can erase months of trust overnight, while the other takes time to show up in price. This week gives us both. $HBAR: Hedera is still dealing with the fallout from the Bonzo Finance exploit. Chain TVL has fallen 45% over the last month, Bonzo has lost nearly 78% of its TVL, and HBAR is down 10.5% on the month. The market is still pricing in the damage. $SUPRA: Supra supplied the oracle involved in the Bonzo exploit. The token is down 22.9% over the month, chain TVL continues to shrink, and there's still no confirmed reimbursement or governance response. Until that changes, sentiment stays weak. $ONDO: Ondo launched perpetuals backed by tokenized stocks, letting users trade names like Nvidia, Tesla, Apple, Microsoft, Coinbase and Circle with up to 20x leverage. Meaningful expansion with no token reaction thus far. $LINK: If tokenized assets keep growing, Chainlink remains one of the clearest ways to play the infrastructure behind them. Revenue is still trending higher than price, so I'm watching to see if the market eventually catches up. $MORPHO: Robinhood Chain's biggest winner so far. It now holds nearly 64% of all TVL on the network; still, none of its protocol revenue reaches token holders. This is an adoption story, not a rev share story. $UNI: Uniswap controls almost all of the trading activity on Robinhood Chain while already sitting up nearly 55% over the last month. The business has improved meaningfully, but so have the expectations. $STRK: Starknet helped launch Internet Court, a dispute resolution layer for AI agents backed by a 27-member coalition including OKX, MetaMask and ZKsync. Macro this week: The merged draft of the CLARITY Act is expected this week ahead of a targeted Senate floor vote next week. If the final language is well received, expect regulatory headlines to become one of the biggest drivers of crypto sentiment. Security incidents can shake confidence quickly. Adoption usually takes longer to price in. This week should give us a better idea of which narrative the market wants to reward. What am I missing this week?

Name & Symbol: Morpho Token ($MORPHO)
Address: 0x58d97b57bb95320f9a05dc918aef65434969c2b2

Robinhood Chain is starting to get interesting. TVL is up 452% in the last 7 days, but what's stood out isn't just the capital flowing in. It's how quickly that capital is being used. Relative to the TVL sitting onchain, @RobinhoodApp is generating fee velocity at roughly 4x @HyperliquidX's pace and more than 30x @Base or @arbitrum. The obvious question becomes: who's actually capturing that activity? Right now, it's mostly $UNI. Uniswap controls 99.7% of DEX volume, generates 52.5% of tracked protocol fees, and does it with just 32.1% of the chain's TVL. $MORPHO tells the opposite story. It holds 67.6% of all TVL, but most of that capital is parked in lending rather than driving transaction volume. Outside the core infrastructure, a few names are already emerging as early category leaders: • Memes: $CASHCAT, $HOOD, $DIH • Games: $YURU • AI/Agents: $VEX, $RANGER It's still early, and things are changing almost daily. But volume is accelerating, liquidity is growing, and a lot of users still haven't bridged over yet. If that capital continues moving onchain, this is the kind of setup that can turn into a very active summer.

Name & Symbol: Morpho Token ($MORPHO)
Address: 0x58d97b57bb95320f9a05dc918aef65434969c2b2

solana:J7nejjwUAxiSbX3DpvTkURscfFSrK33saNoU2ovHpump coded.

Name & Symbol: Meanwhile ($CASHBACK)
Address: J7nejjwUAxiSbX3DpvTkURscfFSrK33saNoU2ovHpump

$ETH finally moved past $1800, but the real signal is not just price. Vitalik’s “Lean Ethereum” thesis just gave the market a new long-term narrative to reprice. Two weeks ago, Ethereum researchers met in Berlin to update the roadmap. Vitalik’s summary framed this as Ethereum’s third major protocol iteration, comparable in importance to the Merge. The roadmap is dense, but the direction is clear: - Recursive STARKs become core infrastructure - Quantum safety moves higher in priority - Privacy becomes a first-class design goal - Gas limits and blob capacity keep expanding over the next 5 years This isn't an overnight revenue catalyst but a change in market psychology. $ETH now has a cleaner 3-5 year story around scaling, privacy, verification, and quantum resistance. Narratives get priced long before fundamentals manifest. So the real question is where attention rotates next. Privacy is the first bucket. - $RAIL: $79.3M TVL, -7.3% 30d, P/F around 33x - $ZAMA: $34.4M TVL, +86.5% 30d - $TORN: $487M TVL, +7.9% 30d, P/F around 5.4x The second bucket is STARK-native scaling. - Base: $4.37B TVL, +9.6% 30d - Starknet: $175M TVL, -7.6% 30d - Arbitrum, Linea, zkSync Era, Scroll: all negative 30d TVL Base is still where capital is flowing, but it has no native token (for now). Starknet is the cleanest thematic fit to the “recursive STARKs enshrined” roadmap, with liquidity yet to materialize. Either capital starts rotating into STARK-native ecosystems as the roadmap builds out, or the trade stays parked in ETH itself and Base. Broad ETH-beta names like $AAVE, $LDO, $CRV, and $SPK will still capture the generic $ETH bid. But the cleaner narrative-specific bet is Privacy + STARK scaling. Either way, the ETH growth story is far from over.

Name & Symbol: Zama ($ZAMA)
Address: 0x6907a5986c4950bdaf2f81828ec0737ce787519f

$ETH finally moved past $1800, but the real signal is not just price. Vitalik’s “Lean Ethereum” thesis just gave the market a new long-term narrative to reprice. Two weeks ago, Ethereum researchers met in Berlin to update the roadmap. Vitalik’s summary framed this as Ethereum’s third major protocol iteration, comparable in importance to the Merge. The roadmap is dense, but the direction is clear: - Recursive STARKs become core infrastructure - Quantum safety moves higher in priority - Privacy becomes a first-class design goal - Gas limits and blob capacity keep expanding over the next 5 years This isn't an overnight revenue catalyst but a change in market psychology. $ETH now has a cleaner 3-5 year story around scaling, privacy, verification, and quantum resistance. Narratives get priced long before fundamentals manifest. So the real question is where attention rotates next. Privacy is the first bucket. - $RAIL: $79.3M TVL, -7.3% 30d, P/F around 33x - $ZAMA: $34.4M TVL, +86.5% 30d - $TORN: $487M TVL, +7.9% 30d, P/F around 5.4x The second bucket is STARK-native scaling. - Base: $4.37B TVL, +9.6% 30d - Starknet: $175M TVL, -7.6% 30d - Arbitrum, Linea, zkSync Era, Scroll: all negative 30d TVL Base is still where capital is flowing, but it has no native token (for now). Starknet is the cleanest thematic fit to the “recursive STARKs enshrined” roadmap, with liquidity yet to materialize. Either capital starts rotating into STARK-native ecosystems as the roadmap builds out, or the trade stays parked in ETH itself and Base. Broad ETH-beta names like $AAVE, $LDO, $CRV, and $SPK will still capture the generic $ETH bid. But the cleaner narrative-specific bet is Privacy + STARK scaling. Either way, the ETH growth story is far from over.

Name & Symbol: Zama ($ZAMA)
Address: 0x6907a5986c4950bdaf2f81828ec0737ce787519f