Financial Performance - Etherfi holds $1163 billion TVL [1] - Etherfi generates $337 million in annualized fees [1] - Etherfi achieves $83 million in revenue [1] - $15 million flows directly to holders [1] Market Valuation - ETHFI feels absurdly underpriced [1] - ETHFI trades at only a $936 million market cap / $181 billion FDV [1] - Valuation is roughly 4x lower than projects with comparable fee capture [1] Staking and Infrastructure - ETHFI has $106 million ETHFI staked, representing 114% of supply [1] - Etherfi is a top-tier on-chain yield and infrastructure protocol [1] Product and Narrative - Etherfi has the best crypto card [1] - Neobank narrative is heating up [1]