The numbers are in 🫣Your top swaps last week on Uniswap Apps https://t.co/blZ4ejdKkV ...

Your top swaps this week on MetaMask:$SPX - @spx6900$ONDO - @OndoFinance$PEPE - @pepecoineth$MOG - @mogcoin$LINK - @chainlink🦊 https://t.co/J7AbpfV2ct ...

Promotion Details - WalletConnect 与 1inch 合作推出奖励活动，奖池为 50,000 WCT [1] - 用户需要在 8 月 6 日结束前在 Solana 链上通过 1inch dApp 或 1inch Wallet 交易至少 50 WCT 才有资格参与 [1] - 交易量越大，获奖机会越高 [1] Action Required - 用户可以通过提供的链接参与活动 [1]

Promotion Details - WalletConnect 与 1inch 合作推出奖励活动，奖池为 50,000 WCT [1] - 用户需要在 8 月 6 日结束前在 Solana 链上通过 1inch dApp 或 1inch Wallet 交易至少 50 WCT 才有资格参与 [1] - 交易量越大，获奖机会越高 [1] Action Required - 用户可以通过提供的链接参与活动 [1]

Uniswap Protocol Performance - The Uniswap Protocol saw 640881736 swaps this year, compared to 670717783 swaps last year [1] - The number of swaps decreased by approximately 44% year-over-year, considering only the first 7 months of this year [1]

Decentralized Finance (DeFi) Activity - Uniswap Apps 平台上的顶级交易互换活动是上周的关注点 [1]

Swaps are derivative contracts where two parties agree to exchange cash flows for a period of time. Here's how these contracts are used in the market. https://t.co/SvrpNHT480 ...

Financial Data and Key Metrics Changes - The company invested over $375 million in the first quarter of 2025, marking the largest investment volume since Q3 2023 [6][11] - Core FFO per share was $1.04, a 3.1% increase year-over-year, while AFFO per share was $1.06, representing a 3% year-over-year increase [20][22] - The company raised the low end of its full-year AFFO per share guidance to a range of $4.27 to $4.30, indicating over 3.5% growth at the midpoint [9][20] Business Line Data and Key Metrics Changes - The company acquired 69 properties across three platforms during Q1, with a weighted average cap rate of 7.3% and a weighted average lease term of 13.4 years [11][12] - The acquisition activity focused on necessity-based retailers, with nearly 69% of base rent derived from investment-grade retailers [12][15] - The company commenced four new development projects with anticipated costs of approximately $24 million and continued construction on 14 projects with aggregate costs of about $80 million [12][13] Market Data and Key Metrics Changes - The company reported a decline in pharmacy and dollar store exposure by 20 and 30 basis points, respectively, indicating a proactive approach to managing tenant risk [15] - The portfolio comprised 2,422 properties across all 50 states, with an investment-grade exposure of 68.3% and occupancy at 99.2% [15][16] Company Strategy and Development Direction - The company has increased its investment guidance range for the year from $1.1 billion to $1.5 billion, reflecting a 47% increase over last year's investment volume [9][10] - The focus remains on recession-resistant retailers that have adapted to an omni-channel strategy, with confidence in the portfolio's resilience against economic downturns [8][9] - The company aims to maintain a robust balance sheet with $1.9 billion in liquidity and no material debt maturities until 2028, allowing for flexibility in capital markets [7][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's stability and growth potential despite a volatile macroeconomic environment [6][10] - The company anticipates continued opportunities in the retail sector, particularly among dominant grocers and necessity-based retailers, as economic conditions evolve [35][82] - Management highlighted the importance of maintaining a conservative approach to asset underwriting and portfolio construction during uncertain times [9][10] Other Important Information - The company raised $181 million of forward equity via its ATM program and established a $625 million commercial paper program to diversify its balance sheet [17][19] - The monthly cash dividend was increased to $0.0256 per common share for April, representing a 2.4% year-over-year increase [22][23] Q&A Session Summary Question: Why was the AFFO guidance not raised more despite the increase in investment guidance? - Management indicated that the only offset to the investment increase was the anticipated treasury stock method dilution of approximately $0.02 [26][27] Question: What is the current strategy regarding grocery exposure? - Management noted that the increase in grocery exposure was primarily due to a one-off opportunity and emphasized the focus on dominant grocers [34][35] Question: How is the company managing tenant exposure amid tariff concerns? - Management stated that there are no significant concerns regarding tariff impacts on the portfolio, as necessity-based retailers are expected to benefit [36][82] Question: What is the outlook for construction costs and yield requirements? - Management anticipates a 2% to 5% increase in construction costs due to tariffs but does not expect material changes in overall construction costs [90] Question: How does the commercial paper program affect investment strategies? - Management clarified that the commercial paper program provides cheaper short-term capital but does not impact the overall weighted average cost of capital [124]