gains network burns 608k gns tokens monthly at $0.91 with $6.14m in protocol fees. that's a 3.31 p/s ratio vs hyperliquid at 7.64 p/s. supply dropped from 31m to 27m tokens in 8 months. burns accelerate with volume. bloomberg terminal integration live, commodities hit 45.8% of volume. the market prices this like a dead protocol when it's eating 27% of its supply annually. ...

gains network burns 750k gns tokens in one november competition. supply down from 31m to 27m in 9 months. generates $7.4m annual revenue trading at 6x multiple with $25m market cap. protocol executing perfect deflationary tokenomics at $0.96 but market pricing it like a dead project. either revenue collapses or this reprices violently when bitcoin finds a floor. ...