It's said that CRCL's price-to-earnings ratio is too high to buy, but look at SPK's size, is it making money? Isn't it over 200...

In the past, I would have considered taking over, but now in this cycle, I don't know who will take over after me, so I've given up.

What is SPK's positioning? It's Fork Aave to leverage SKY (MakerDAO), and it's said that 10% of the protocol revenue is shared with Aave, but it seems most of the protocol revenue has been earned by SKY. SPK and AAVE even had a dispute in July 2024, didn't they agree to share 10%? How come only 1% has been received?

I looked through both forums, and it seems that now SPK only pays 0.25M to Aave each quarter.