Top 10 Projects by Market Cap-to-Revenue Ratio

@AerodromeFi stands out as one of the most efficient protocols, generating ~$147M in annualized revenue on a ~$570M market cap at the time of writing.

Meanwhile, @StargateFinance is valued at ~$190M despite pulling in just $1.7M in revenue.

@AerodromeFi — 3.9x

@metaplex — 6.1x

@Bifrost — 7x

@DriftProtocol — 12.8x

@jito_sol — 14.4x

@RaydiumProtocol — 14.5x

@HyperliquidX — 17.4x

@maplefinance — 44.3x

@stride_zone — 80.3x

@StargateFinance — 111x