CRYPTO MARKET INTELLIGENCE / MILESTONE 2

Research universe.

Classification, fundamentals, deterministic signals, and exclusions.

RESEARCH QUESTIONS · NOT RECOMMENDATIONS
Every denominator below is the frozen CoinGecko registry. DeFiLlama is a protocol-focused source and does not represent fundamental coverage of the entire cryptocurrency market.

Denominator: 22,335 assets · registry observed 2026-10-18T03:18:40.126Z · research snapshot 2026-10-21T06:49:51.159Z

Canonical sector memberships

Assets may have more than one sector membership.

layer 160
layer 20
decentralized exchanges339
lending borrowing137
stablecoin infrastructure1
stablecoins15
yield protocols251
decentralized computing storage16
real world assets45
memecoins4
wrapped bridged assets94
tokenized traditional securities0
other703
unclassified20,823
AssetClassificationFundamentalsResearch statusSignalsReview
88mph mphcoingecko:88mphlending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
Aave aavecoingecko:aavelending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, requires manual investigationrevenue growth declining multiple, peer valuation differenceUnreviewed
ABEL Finance abelcoingecko:abel-financelending borrowing, protocol tokentvlinsufficient historical dataNoneUnreviewed
Agave agvecoingecko:agave-tokenlending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
Ajna Protocol ajnacoingecko:ajna-protocollending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical dataNoneUnreviewed
Alpaca Finance alpacacoingecko:alpaca-financeother, lending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
Alpha Fi alphacoingecko:alpha-filending borrowing, yield protocols, other, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical data, requires manual investigationpeer valuation differenceUnreviewed
Ambit Finance ambtcoingecko:ambit-financelending borrowing, protocol tokentvlinsufficient historical dataNoneUnreviewed
AMPLY amplycoingecko:amplylending borrowing, protocol tokentvlanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
ApeBond abondcoingecko:abonddecentralized exchanges, lending borrowing, yield protocols, protocol tokentvl, fees, revenue, holders_revenue, dex_volumeanalyzable, insufficient historical dataNoneUnreviewed
Aquarius Loan arscoingecko:aquarius-loanlending borrowing, protocol tokentvlinsufficient historical dataNoneUnreviewed
Aso Finance asocoingecko:aso-financelending borrowing, protocol tokentvlinsufficient historical dataNoneUnreviewed
Aurigami plycoingecko:aurigamilending borrowing, protocol tokentvlanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
BANX banxcoingecko:banxlending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
BendDAO bendcoingecko:benddaolending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, requires manual investigationpeer valuation difference, high dilutionUnreviewed
BENQI qicoingecko:benqiother, lending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical data, requires manual investigationpeer valuation differenceUnreviewed
BiFi bificoingecko:bifilending borrowing, protocol tokentvlanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Blend blndcoingecko:blendlending borrowing, other, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical dataNoneUnreviewed
Bluefin bluecoingecko:bluefinlending borrowing, protocol tokentvlanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Blur blurcoingecko:blurother, lending borrowing, protocol tokentvl, fees, revenue, dex_volumeanalyzable, insufficient historical dataNoneUnreviewed
BNPL Pay [OLD] bnplcoingecko:bnpl-paylending borrowing, protocol tokentvlmissing fundamental data, analyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Borro.Markets borrocoingecko:borro-marketslending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
Cap capcoingecko:cap-4lending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, requires manual investigationpeer valuation difference, fundamental deterioration, high dilutionUnreviewed
Carrot crtcoingecko:carrot-2lending borrowing, yield protocols, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
Channels cancoingecko:channelslending borrowing, protocol tokentvlmissing fundamental data, analyzable, insufficient historical dataNoneUnreviewed
Colend clndcoingecko:colendlending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Compound compcoingecko:compound-governance-tokenlending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical data, requires manual investigationpeer valuation differenceUnreviewed
Cream creamcoingecko:cream-2other, lending borrowing, decentralized exchanges, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
CygnusDAO cygcoingecko:cygnusdaolending borrowing, protocol tokentvlinsufficient historical dataNoneUnreviewed
DEEPR deeprcoingecko:deeprlending borrowing, protocol tokentvl, fees, revenue, holders_revenueinsufficient historical dataNoneUnreviewed
DefiTuna tunacoingecko:defitunadecentralized exchanges, lending borrowing, other, protocol tokentvl, fees, revenue, holders_revenue, dex_volumeanalyzable, requires manual investigationimproving tokenholder value capture, peer valuation difference, fundamental deterioration, high dilutionUnreviewed
Dolomite dolocoingecko:dolomitelending borrowing, protocol tokentvl, fees, revenueanalyzable, requires manual investigationrevenue growth declining multiple, activity growth stagnant market cap, peer valuation difference, high dilutionUnreviewed
Echelon Token eloncoingecko:echelon-tokenlending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, requires manual investigationpeer valuation difference, high dilutionUnreviewed
Edel edelcoingecko:edellending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical dataNoneUnreviewed
Euler eulcoingecko:eulerlending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
EVAA Protocol evaacoingecko:evaa-protocollending borrowing, protocol tokentvlanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Everything evcoingecko:everythinglending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
Exactly Protocol exacoingecko:exalending borrowing, other, protocol tokentvl, fees, revenue, holders_revenue, dex_volumeanalyzable, requires manual investigationfundamental deterioration, high dilutionUnreviewed
Extra Finance extracoingecko:extra-financeother, lending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, requires manual investigationpeer valuation difference, high dilutionUnreviewed
Famous Fox Federation foxycoingecko:famous-fox-federationlending borrowing, protocol tokentvlinsufficient historical dataNoneUnreviewed
FluidTokens fldtcoingecko:fluidtokenslending borrowing, protocol tokentvl, fees, revenue, holders_revenueinsufficient historical dataNoneUnreviewed
Flying Tulip ftcoingecko:flying-tuliplending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical data, requires manual investigationpeer valuation differenceUnreviewed
FOLKS folkscoingecko:folksother, lending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, requires manual investigationpeer valuation difference, high dilutionUnreviewed
ForTube forcoingecko:force-protocollending borrowing, protocol tokentvlanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Fringe Finance frincoingecko:fringe-financelending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
Gearbox gearcoingecko:gearboxlending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical data, requires manual investigationpeer valuation differenceUnreviewed
Goldfinch gficoingecko:goldfinchlending borrowing, protocol tokentvl, fees, revenueanalyzable, insufficient historical data, requires manual investigationpeer valuation differenceUnreviewed
Green Planet gammacoingecko:green-planetlending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
Hatom htmcoingecko:hatomlending borrowing, other, wrapped bridged assets, yield protocols, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
Hydro Protocol hdrocoingecko:hydro-protocol-2other, lending borrowing, yield protocols, protocol tokentvl, fees, revenue, holders_revenueanalyzable, requires manual investigationpeer valuation difference, high dilutionUnreviewed
HyperLend hplcoingecko:hyperlendlending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, requires manual investigationpeer valuation difference, fundamental deterioration, high dilutionUnreviewed
Ionic Protocol ioncoingecko:ionic-protocollending borrowing, protocol tokentvlmissing fundamental data, analyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Iron Bank ibcoingecko:iron-banklending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical data, requires manual investigationfundamental deterioration, high dilutionUnreviewed
JOE joecoingecko:joedecentralized exchanges, yield protocols, lending borrowing, protocol tokentvl, fees, revenue, holders_revenue, dex_volumeanalyzable, requires manual investigationpeer valuation differenceUnreviewed
Joule joulecoingecko:joule-2lending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical data, requires manual investigationpeer valuation differenceUnreviewed
Jupiter jupcoingecko:jupiter-exchange-solanalending borrowing, other, decentralized exchanges, protocol tokentvl, fees, revenue, holders_revenue, dex_volumeanalyzable, requires manual investigationfundamental deterioration, high dilutionUnreviewed
Juris Protocol juriscoingecko:juris-protocollending borrowing, protocol tokentvlanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
JUST jstcoingecko:justlending borrowing, other, wrapped bridged assets, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical data, requires manual investigationpeer valuation differenceUnreviewed
Kamino kmnocoingecko:kaminolending borrowing, other, real world assets, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Kaskad kskdcoingecko:kaskadlending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical dataNoneUnreviewed
Kava Lend hardcoingecko:kava-lendlending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
KnightSwap knightcoingecko:knightswapdecentralized exchanges, lending borrowing, protocol tokentvl, dex_volumeinsufficient historical dataNoneUnreviewed
Larix larixcoingecko:larixlending borrowing, protocol tokentvlinsufficient historical dataNoneUnreviewed
Lendle lendcoingecko:lendlelending borrowing, yield protocols, other, protocol tokentvl, fees, revenue, holders_revenueinsufficient historical dataNoneUnreviewed
Lenfi lenficoingecko:aada-financelending borrowing, protocol tokentvlinsufficient historical dataNoneUnreviewed
LIQUIDIUM•TOKEN (Runes) liqcoingecko:liquidium-tokenlending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, requires manual investigationrevenue growth declining multipleUnreviewed
LiquidOps lqdcoingecko:liquidopslending borrowing, protocol tokentvlmissing fundamental data, insufficient historical dataNoneUnreviewed
Liqwid Finance lqcoingecko:liqwid-financelending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical dataNoneUnreviewed
Lista DAO listacoingecko:listalending borrowing, other, decentralized exchanges, real world assets, yield protocols, protocol tokentvl, fees, revenue, holders_revenue, dex_volumeanalyzable, requires manual investigationimproving tokenholder value capture, peer valuation difference, high dilutionUnreviewed
Loan Protocol loancoingecko:proton-loanlending borrowing, protocol tokentvlanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Longbow bowcoingecko:longbow-2lending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
Magnify Cash magcoingecko:magnify-cashlending borrowing, protocol tokentvlmissing fundamental data, analyzable, insufficient historical dataNoneUnreviewed
Magpie magpiecoingecko:permission-less-lendinglending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
Mendi Finance mendicoingecko:mendi-financelending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, requires manual investigationpeer valuation difference, high dilutionUnreviewed
Minterest mintycoingecko:minterestlending borrowing, protocol tokentvlinsufficient historical dataNoneUnreviewed
Moonwell wellcoingecko:moonwell-artemislending borrowing, other, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical dataNoneUnreviewed
Morpho morphocoingecko:morpholending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
NAVI Protocol navxcoingecko:navilending borrowing, other, decentralized exchanges, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical data, requires manual investigationpeer valuation differenceUnreviewed
Nearlend DAO neldcoingecko:nearlend-daolending borrowing, protocol tokentvlinsufficient historical dataNoneUnreviewed
Neptune neptcoingecko:neptune-2lending borrowing, protocol tokentvlanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Nolus nlscoingecko:noluslending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
Notional Finance notecoingecko:notional-financeother, lending borrowing, protocol tokentvlanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
NUSA nusacoingecko:nusa-financelending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
Olympus ohmcoingecko:olympuslending borrowing, other, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical data, requires manual investigationpeer valuation differenceUnreviewed
Omni Consumer Protocol ocpcoingecko:omni-consumer-protocollending borrowing, protocol tokentvlanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Omnipair omfgcoingecko:omnipairlending borrowing, protocol tokentvl, fees, revenue, holders_revenue, dex_volumeanalyzable, requires manual investigationpeer valuation difference, fundamental deteriorationUnreviewed
Onyxcoin xcncoingecko:chain-2lending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
Ooki ookicoingecko:ookilending borrowing, protocol tokentvlmissing fundamental data, analyzable, insufficient historical dataNoneUnreviewed
Oxygen (Solana) oxycoingecko:oxygenlending borrowing, protocol tokentvlmissing fundamental data, analyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Paribus pbxcoingecko:paribuslending borrowing, protocol tokentvlmissing fundamental data, analyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Phiat Protocol phiatcoingecko:phiat-protocollending borrowing, protocol tokentvlinsufficient historical dataNoneUnreviewed
Pike Finance pcoingecko:pike-financelending borrowing, protocol tokentvlmissing fundamental data, analyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Pine pinecoingecko:pinelending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
Pixie Dust dustcoingecko:pixie-dustlending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, requires manual investigationrevenue growth declining multiple, improving tokenholder value capture, peer valuation difference, high dilutionUnreviewed
Port Finance portcoingecko:port-financelending borrowing, protocol tokentvlanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Prime Numbers Labs prficoingecko:primefilending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, requires manual investigationfundamental deterioration, high dilutionUnreviewed
Priors Agents priorscoingecko:priors-agentlending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
QUACKS quackscoingecko:quackslending borrowing, protocol tokentvlinsufficient historical dataNoneUnreviewed
Qubit qbtcoingecko:qubitlending borrowing, protocol tokentvlinsufficient historical dataNoneUnreviewed
Quickswap [OLD] quickcoingecko:quicklending borrowing, protocol tokentvlmissing fundamental data, insufficient historical data, requires identity verification, requires manual investigationdata quality investigationUnreviewed
Rabbit Finance rabbitcoingecko:rabbit-financelending borrowing, protocol tokentvlmissing fundamental data, analyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Radiant Capital rdntcoingecko:radiant-capitallending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical data, requires manual investigationpeer valuation differenceUnreviewed
RealToken Ecosystem Governance regcoingecko:realtoken-ecosystem-governancereal world assets, lending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, requires manual investigationrevenue growth declining multiple, peer valuation difference, high dilutionUnreviewed
Resupply rsupcoingecko:resupplylending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, requires manual investigationrevenue growth declining multiple, peer valuation difference, high dilutionUnreviewed
Revest Finance rvstcoingecko:revest-financelending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
Ribbon Finance rbncoingecko:ribbon-financeother, lending borrowing, protocol tokentvlanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Ripe DAO Governance Token ripecoingecko:ripe-dao-governance-tokenlending borrowing, protocol tokentvlanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Rujira rujicoingecko:rujirayield protocols, lending borrowing, other, decentralized exchanges, protocol tokentvl, fees, revenue, holders_revenue, dex_volumeanalyzable, insufficient historical dataNoneUnreviewed
Save savecoingecko:savelending borrowing, other, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical dataNoneUnreviewed
Scallop scacoingecko:scallop-2lending borrowing, yield protocols, decentralized exchanges, protocol tokentvl, fees, revenueanalyzable, insufficient historical data, requires manual investigationpeer valuation differenceUnreviewed
Seamless Protocol seamcoingecko:seamless-protocollending borrowing, other, protocol tokentvl, fees, revenue, holders_revenueanalyzable, requires manual investigationpeer valuation difference, high dilutionUnreviewed
Sharky sharkcoingecko:sharky-filending borrowing, protocol tokentvl, fees, revenue, holders_revenueinsufficient historical dataNoneUnreviewed
Shroomy shroomycoingecko:shroomylending borrowing, decentralized exchanges, protocol tokentvl, fees, revenue, holders_revenue, dex_volumeanalyzable, insufficient historical dataNoneUnreviewed
SmartCredit smartcreditcoingecko:smartcredit-tokenlending borrowing, protocol tokentvlanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
SONE sonecoingecko:sonelending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical data, requires manual investigationpeer valuation differenceUnreviewed
Strike strikecoingecko:strikelending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical dataNoneUnreviewed
Surf Lending surfcoingecko:flow-lendinglending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
Sync Network synccoingecko:sync-networklending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
Tarot tarotcoingecko:tarot-2lending borrowing, protocol tokentvl, fees, revenueanalyzable, insufficient historical dataNoneUnreviewed
Tectonic toniccoingecko:tectoniclending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, requires manual investigationrevenue growth declining multiple, improving tokenholder value capture, peer valuation difference, high dilutionUnreviewed
TermMax tmxcoingecko:termmaxlending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Trava Finance travacoingecko:trava-financelending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
TrueFi trucoingecko:truefilending borrowing, protocol tokentvlanalyzable, insufficient historical dataNoneUnreviewed
UniLend Finance [OLD] uftcoingecko:unlend-financelending borrowing, protocol tokentvlmissing fundamental data, insufficient historical dataNoneUnreviewed
Vee Finance veecoingecko:vee-financelending borrowing, protocol tokentvlinsufficient historical dataNoneUnreviewed
Venus xvscoingecko:venuslending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
VinuChain vccoingecko:vinuchaindecentralized exchanges, lending borrowing, other, protocol tokentvl, dex_volumeanalyzable, insufficient historical dataNoneUnreviewed
Wefi weficoingecko:wefi-financelending borrowing, protocol tokentvlanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
Weft Finance weftcoingecko:weft-financelending borrowing, protocol tokentvlinsufficient historical dataNoneUnreviewed
Wing Finance wingcoingecko:wing-financelending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical data, requires manual investigationpeer valuation differenceUnreviewed
World Liberty Financial wlficoingecko:world-liberty-financiallending borrowing, protocol tokenfees, revenue, holders_revenueanalyzable, requires manual investigationpeer valuation difference, high dilutionUnreviewed
WXT Token wxtcoingecko:wirexlending borrowing, protocol tokentvlanalyzable, insufficient historical data, requires manual investigationhigh dilutionUnreviewed
X2Y2 x2y2coingecko:x2y2lending borrowing, protocol tokentvl, fees, revenueanalyzable, insufficient historical dataNoneUnreviewed
XCarnival xcvcoingecko:xcarnivallending borrowing, protocol tokentvlinsufficient historical dataNoneUnreviewed
XOXNO xoxnocoingecko:xoxnolending borrowing, other, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical dataNoneUnreviewed
ZeroLend zerocoingecko:zerolendlending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, insufficient historical data, requires manual investigationpeer valuation differenceUnreviewed
Zest Protocol zestcoingecko:zest-protocollending borrowing, protocol tokentvl, fees, revenue, holders_revenueanalyzable, requires manual investigationpeer valuation difference, high dilutionUnreviewed