Comparables
Every perp DEX that has already listed: what it launched at, what points actually paid, and how the multiple has held up since.
Launches studied
10
Median FDV / volumeMedian ratio of FDV at launch to annualised trading volume at launch.
0.00×
90d FDV retentionMedian FDV 90 days after listing, relative to the FDV on day one.
106%
Model median errorMedian absolute error of the model's out-of-sample FDV prediction across these launches.
+149%
Multiple decay after listing
Median FDV at each point after listing, relative to day one. Launch valuations have historically compressed, which is why the model offers a decay haircut — the multiple a venue lists at is not the multiple it holds.
Volume vs FDV at launch Past launches Live forecasts
Where past tokens priced against the flow they were doing, with today's programmes plotted as forecasts on the same axes. Both scales are logarithmic and the trend line is fitted in log space.
Past launches10 tokens
 GRVTGRVT | 2026-07-30 | 28.0% | 444.7M | $0.1461 | $231.99M | $164.94M | 71% | $360.00M | $1.20B | 0.00× |
 EdgeXEDGE | 2026-03-31 | 30.0% | 7.31M | $4.61 | ||||||
Model scorecardout of sample
| GRVTGRVT | $705.69M | $231.99M | +204% | $0.3399 | $0.1461 | +133% |
 BackpackBP | $773.64M | $214.89M | ||||
| EdgeXEDGE | $4.67B | $673.38M | +594% | $146.66 | $4.61 | +3081% |
