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"CAKE", "products": { "spot": { "symbol": "CAKEUSDT", "stage": 2, "rank": 65, "close": 2.252 }, "futures": { "symbol": "CAKEUSDT", "stage": 2, "rank": 114, "close": 2.2498 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 10, "B": 7.0, "C": 3.5, "D": 6, "E": 5 }, "total": 71.3, "capped": false, "no_revenue": false, "metrics": { "market_cap": 712507278, "fdv": 738460865, "fdv_mc": 1.0364257149384515, "fees30": 19790196.240000006, "rev30": 6487746.97, "hr30": 4351766.02, "hr90": 10813014.91, "hr_prev90": 6586506.03, "hr_ann": 43852782.69055556, "holder_yield": 0.06154713649192445, "quarters": 12, "fee_growth": 1.6627120192393101, "tvl_growth": null, "tvl_now": 2249768975.7812963, "tvl_days": 0, "pe": 16.247709592975283, "pe_median_1y": 14.044333564958716, "accel": 1.6416920990809447, "davis": "accel", "unlock_12m": 0.0, "mechanism": true, "llama": [ "PancakeSwap AMM", "PancakeSwap AMM V3", "PancakeSwap Infinity", "PancakeSwap Lottery", "PancakeSwap Prediction", "PancakeSwap StableSwap" ], "gecko_id": "pancakeswap-token" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "PancakeSwap 是 BNB Chain 为主的多链 DEX（现货/永续/发射台/彩票/预测），交易者按笔付手续费，协议把 15~23% 现货手续费、20% 永续利润、100% CAKE.PAD 费用等拿去市场回购并销毁 CAKE。", "one_sentence_en": "PancakeSwap is a multi-chain DEX (spot, perps, launchpad, lottery, prediction) centred on BNB Chain; traders pay per-trade fees and the protocol routes 15-23% of spot fees, 20% of perp profits and 100% of CAKE.PAD fees into weekly market buy-and-burn of CAKE.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 1 }, { "base": "UNI", "products": { "spot": { "symbol": "UNIUSDT", "stage": 2, "rank": 10, "close": 7.91 }, "futures": { "symbol": "UNIUSDT", "stage": 2, "rank": 10, "close": 7.907 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 8, "B": 8.0, "C": 3.0, "D": 6, "E": 9 }, "total": 69.5, "capped": false, "no_revenue": false, "metrics": { "market_cap": 4883268100, "fdv": 6932047447, "fdv_mc": 1.4195508632835456, "fees30": 150264011.19, "rev30": 11923233.0, "hr30": 11923233.0, "hr90": 29728794.0, "hr_prev90": 13300638.0, "hr_ann": 120566775.66666667, "holder_yield": 0.024689771930946545, "quarters": 4, "fee_growth": 2.8708583446458826, "tvl_growth": null, "tvl_now": 3951549048.0658407, "tvl_days": 0, "pe": 40.502601757393485, "pe_median_1y": 45.79669477033204, "accel": 2.2351404496536182, "davis": "both", "unlock_12m": 0.032, "mechanism": true, "llama": [ "Uniswap V1", "Uniswap V2", "Uniswap V3", "Uniswap V4" ], "gecko_id": "uniswap" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Uniswap 是多链上最大的去中心化交易所协议，交易者为每笔兑换向 LP 支付手续费，2025-12-28 起协议从中抽取一部分（v2 0.05%、v3 LP 费的 1/4~1/6）用于回购并销毁 UNI。", "one_sentence_en": "Uniswap is the largest multi-chain DEX protocol: traders pay swap fees to LPs, and since 28 Dec 2025 the protocol takes a cut (0.05% on v2, 1/4-1/6 of LP fees on v3) to buy back and burn UNI.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 2 }, { "base": "AERO", "products": { "futures": { "symbol": "AEROUSDT", "stage": 2, "rank": 88, "close": 0.795 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 10, "B": 7.5, "C": 4.0, "D": 3, "E": 5 }, "total": 67.0, "capped": false, "no_revenue": false, "metrics": { "market_cap": 782248938, "fdv": 1555392316, "fdv_mc": 1.9883597668751325, "fees30": 19463329.0, "rev30": 15399745.0, "hr30": 15399745.0, "hr90": 24406791.0, "hr_prev90": 16085676.0, "hr_ann": 98983096.83333333, "holder_yield": 0.12653656914690925, "quarters": 12, "fee_growth": 1.1076878879684517, "tvl_growth": null, "tvl_now": 374530064.48779255, "tvl_days": 0, "pe": 7.902853750041205, "pe_median_1y": 4.990236337695325, "accel": 1.5172996770542935, "davis": "accel", "unlock_12m": null, "mechanism": true, "llama": [ "Aero Lite", "Aerodrome Slipstream", "Aerodrome V1" ], "gecko_id": "aerodrome-finance" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Aerodrome 是 Base 链上最大的 DEX（ve(3,3) 模型），交易者为每笔兑换支付手续费、项目方为引导流动性支付贿选，100% 手续费与贿选按投票分给锁仓的 veAERO 持有者。", "one_sentence_en": "Aerodrome is the dominant DEX on Base (ve(3,3) model): traders pay swap fees and protocols pay bribes to direct emissions, and 100% of those fees/bribes are distributed weekly to veAERO lockers who vote.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 3 }, { "base": "SKY", "products": { "spot": { "symbol": "SKYUSDT", "stage": 2, "rank": 106, "close": 0.08022 }, "futures": { "symbol": "SKYUSDT", "stage": 2, "rank": 131, "close": 0.08011 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 8, "B": 7.5, "C": 4.3, "D": 5, "E": 5 }, "total": 64.4, "capped": false, "no_revenue": false, "metrics": { "market_cap": 1856338582, "fdv": 1858952213, "fdv_mc": 1.0014079495116586, "fees30": 27223311.0, "rev30": 13474595.0, "hr30": 5549240.0, "hr90": 9761073.0, "hr_prev90": 3350596.0, "hr_ann": 39586573.833333336, "holder_yield": 0.021325082728541455, "quarters": 8, "fee_growth": 0.8621899019455929, "tvl_growth": null, "tvl_now": 6086170527.754999, "tvl_days": 0, "pe": 46.893135784256614, "pe_median_1y": 23.670583059179016, "accel": 2.9132348394136445, "davis": "accel", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Sky Lending", "Sky Money" ], "gecko_id": "sky" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Sky（原 MakerDAO）发行 USDS/DAI 稳定币：借款人支付稳定费、国库 RWA 产生利息收益，协议盈余经 Smart Burn Engine 在公开市场回购 SKY。", "one_sentence_en": "Sky (formerly MakerDAO) issues the USDS/DAI stablecoins; borrowers pay stability fees and treasury RWAs earn yield, and the surplus is routed through the Smart Burn Engine to buy SKY on the open market.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 4 }, { "base": "ORCA", "products": { "spot": { "symbol": "ORCAUSDT", "stage": 2, "rank": 98, "close": 2.855 }, "futures": { "symbol": "ORCAUSDT", "stage": 2, "rank": 87, "close": 2.848 } }, "status": "ok", "red_lines": [], "audit": { "file": "2026-10-08.json", "B_first": 7.0, "B_audit": 5.5, "C_first": 1.5, "C_audit": 2.5 }, "scores": { "A": 8, "B": 7.0, "C": 2.0, "D": 5, "E": 5 }, "total": 60.0, "capped": false, "no_revenue": false, "metrics": { "market_cap": 166503835, "fdv": 205394149, "fdv_mc": 1.2335700796320999, "fees30": 10590678.0, "rev30": 1376787.0, "hr30": 508353.0, "hr90": 830905.0, "hr_prev90": 245749.0, "hr_ann": 3369781.388888889, "holder_yield": 0.020238461107450704, "quarters": 8, "fee_growth": 1.8009937377936196, "tvl_growth": null, "tvl_now": 322397355.9324834, "tvl_days": 0, "pe": 49.41087144377071, "pe_median_1y": 42.49094900930358, "accel": 3.3811124358593525, "davis": "accel", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Orca DEX" ], "gecko_id": "orca" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Orca 是 Solana 上的集中流动性 DEX（Whirlpools），交易者为换币支付 swap 费，87% 归 LP、13% 归协议，协议份额的一部分用于回购 ORCA 分给 xORCA 质押者。", "one_sentence_en": "Orca is a concentrated-liquidity DEX on Solana (Whirlpools); traders pay swap fees, 87% to LPs and 13% to the protocol, part of which buys back ORCA for xORCA stakers.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 5 }, { "base": "BNB", "products": { "spot": { "symbol": "BNBUSDT", "stage": 2, "rank": 7, "close": 772.45 }, "futures": { "symbol": "BNBUSDT", "stage": 2, "rank": 11, "close": 772.68 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 8.0, "C": 3.5, "D": 7, "E": 9 }, "total": 58.2, "capped": false, "no_revenue": false, "metrics": { "market_cap": 102225550259, "fdv": 102225548148, "fdv_mc": 0.9999999793495854, "fees30": 22655124.0, "rev30": 3944801.0, "hr30": 2078923.0, "hr90": 5044861.0, "hr_prev90": 3118370.0, "hr_ann": 20459714.055555556, "holder_yield": 0.00020014286060303471, "quarters": 6, "fee_growth": 1.5837977987281147, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 4996.431034247131, "pe_median_1y": 5495.707391647917, "accel": 1.6177878186360182, "davis": "both", "unlock_12m": 0.0, "mechanism": true, "llama": [ "BSC", "Binance Alpha" ], "gecko_id": "binancecoin" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "BNB 是币安交易所与 BNB Chain 的通用代币：链上用户付 gas（部分实时销毁），交易所用户用它抵扣手续费/参与 Launchpool，另有季度 Auto-Burn 把总供应压向 1 亿。", "one_sentence_en": "BNB is the token of Binance exchange and BNB Chain: chain users pay gas (a share burned in real time), exchange users use it for fee discounts/Launchpool, and quarterly Auto-Burn drives supply toward 100M.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 6 }, { "base": "PUMP", "products": { "spot": { "symbol": "PUMPUSDT", "stage": 2, "rank": 19, "close": 0.006238 }, "futures": { "symbol": "PUMPUSDT", "stage": 2, "rank": 17, "close": 0.006234 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 10, "B": 6.0, "C": 3.5, "D": 2.0, "E": 1 }, "total": 57.3, "capped": false, "no_revenue": false, "metrics": { "market_cap": 2786475695, "fdv": 4982449607, "fdv_mc": 1.7880829235081486, "fees30": 186203689.0, "rev30": 61633675.0, "hr30": 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"confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 7 }, { "base": "RAY", "products": { "spot": { "symbol": "RAYUSDT", "stage": 2, "rank": 54, "close": 2.4678 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 8, "B": 7.0, "C": 2.75, "D": 3, "E": 5 }, "total": 57.1, "capped": false, "no_revenue": false, "metrics": { "market_cap": 656435831, "fdv": 1350022386, "fdv_mc": 2.0565946010951373, "fees30": 43523859.0, "rev30": 7225465.0, "hr30": 4408447.0, "hr90": 6571275.0, "hr_prev90": 2013667.0, "hr_ann": 26650170.833333332, "holder_yield": 0.040598287867277205, "quarters": 6, "fee_growth": 3.6932777952634126, "tvl_growth": null, "tvl_now": 1301168432.1881301, "tvl_days": 0, "pe": 24.63158060431445, "pe_median_1y": 16.801343168732984, "accel": 3.263337483307816, "davis": "accel", "unlock_12m": 0.0, "mechanism": true, "llama": [ "LaunchLab", "Raydium AMM" ], "gecko_id": "raydium" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Raydium 是 Solana 上的 AMM 现货交易所兼代币发射台（LaunchLab），交易者为撮合流动性支付 0.25% 左右的手续费，其中 12% 自动在二级市场回购 RAY。", "one_sentence_en": "Raydium is Solana's AMM DEX plus token launchpad (LaunchLab); traders pay ~0.25% swap fees for liquidity, and 12% of fees are routed to on-chain RAY buybacks.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 8 }, { "base": "VVV", "products": { "futures": { "symbol": "VVVUSDT", "stage": 2, "rank": 40, "close": 25.539 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 6, "B": 4.0, "C": 3.5, "D": 6, "E": 9 }, "total": 55.2, "capped": false, "no_revenue": false, "metrics": { "market_cap": 1201644352, "fdv": 2017546084, "fdv_mc": 1.6789876976844476, "fees30": 1268899.0, "rev30": 1268899.0, "hr30": 1268899.0, "hr90": 2225655.0, "hr_prev90": 795635.79, "hr_ann": 9026267.5, 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"2026-10-08.json" }, "notes": [], "rank": 9 }, { "base": "TRX", "products": { "spot": { "symbol": "TRXUSDT", "stage": 2, "rank": 23, "close": 0.3354 }, "futures": { "symbol": "TRXUSDT", "stage": 2, "rank": 67, "close": 0.33516 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 6, "B": 7.5, "C": 4.0, "D": 6, "E": 1 }, "total": 55.0, "capped": false, "no_revenue": false, "metrics": { "market_cap": 31814697076, "fdv": 31815071515, "fdv_mc": 1.0000117693718442, "fees30": 24003345.0, "rev30": 24003345.0, "hr30": 24003345.0, "hr90": 75563021.0, "hr_prev90": 87459985.0, "hr_ann": 306450029.6111111, "holder_yield": 0.009632341583484298, "quarters": 12, "fee_growth": 0.8639724898192013, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 103.81691630564777, "pe_median_1y": 84.77592248433818, "accel": 0.8639724898192013, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Tron" ], "gecko_id": "tron" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "TRON 是以 USDT 结算为核心用途的公链（稳定币供应 $89B、季度结算 $2.08T），转账与合约用户以 TRX 支付或质押换取带宽/能量，支付的 TRX 手续费被销毁。", "one_sentence_en": "TRON is a public chain whose core use is USDT settlement ($89B stablecoin supply, $2.08T quarterly settlement); users pay or stake TRX for bandwidth/energy, and paid TRX fees are burned.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 10 }, { "base": "SPK", "products": { "spot": { "symbol": "SPKUSDT", "stage": 2, "rank": 184, "close": 0.022567 } }, "status": "ok", "red_lines": [], "audit": { "file": "2026-10-08.json", "B_first": 7.5, "B_audit": 7.0, "C_first": 2.25, "C_audit": 2.0 }, "scores": { "A": 8, "B": 7.5, "C": 2.75, "D": 3.0, "E": 1 }, "total": 54.1, "capped": false, "no_revenue": false, "metrics": { "market_cap": 75907475, "fdv": 221751167, "fdv_mc": 2.921335046383772, "fees30": 18031833.0, "rev30": 1008186.0, "hr30": 726846.0, "hr90": 1850234.0, "hr_prev90": 1341160.0, "hr_ann": 7503726.777777778, "holder_yield": 0.09885359482419588, "quarters": 3, "fee_growth": 0.9163122959007267, "tvl_growth": null, "tvl_now": 8187915164.257372, "tvl_days": 0, "pe": 10.11597000370527, "pe_median_1y": 9.609644231003134, "accel": 1.3795773807748517, "davis": "none", "unlock_12m": 0.088, "mechanism": true, "llama": [ "Spark Liquidity Layer", "SparkLend" ], "gecko_id": "spark-2" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Spark 是 Sky(MakerDAO) 生态的链上资本分配器+借贷协议(SparkLend)：借款人付利息、Spark 把 Sky 的稳定币储备部署到 DeFi/CeFi/RWA 赚利差，净收入一部分按治理参数回购 SPK；SPK 承担治理与质押。", "one_sentence_en": "Spark is Sky's onchain capital allocator plus lending market: borrowers pay interest and Spark deploys Sky's stablecoin reserves across DeFi/CeFi/RWA for spread; part of net revenue buys back SPK, which governs and can be staked.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 11 }, { "base": "JUP", "products": { "spot": { "symbol": "JUPUSDT", "stage": 2, "rank": 81, "close": 0.359 }, "futures": { "symbol": "JUPUSDT", "stage": 2, "rank": 89, "close": 0.3584 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 8, "B": 7.5, "C": 3.5, "D": 2.0, "E": 1 }, "total": 53.2, "capped": false, "no_revenue": false, "metrics": { "market_cap": 1233931977, "fdv": 2550667597, "fdv_mc": 2.067105516789764, "fees30": 18051109.42, "rev30": 6130023.36, "hr30": 3061880.53, "hr90": 8153905.899999999, "hr_prev90": 6979166.140000001, "hr_ann": 33068618.372222222, "holder_yield": 0.026799385208105538, "quarters": 7, "fee_growth": 1.034578198053606, "tvl_growth": null, "tvl_now": 2633585212.089512, "tvl_days": 0, "pe": 37.314288825459606, "pe_median_1y": 14.675537524497038, "accel": 1.1683209335377707, "davis": 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"stage": 2, "rank": 73, "close": 2.025 }, "futures": { "symbol": "RENDERUSDT", "stage": 2, "rank": 103, "close": 2.021 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 5.5, "C": 3.5, "D": 7, "E": 9 }, "total": 53.2, "capped": false, "no_revenue": false, "metrics": { "market_cap": 1035582259, "fdv": 1065046549, "fdv_mc": 1.02845190688034, "fees30": 252944.0, "rev30": 252944.0, "hr30": 240288.0, "hr90": 543306.0, "hr_prev90": 296203.0, "hr_ann": 2203407.6666666665, "holder_yield": 0.00212769931844368, "quarters": 6, "fee_growth": 1.8341121420393136, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 469.99122071978513, "pe_median_1y": 500.5161520533634, "accel": 1.834235304841612, "davis": "both", "unlock_12m": null, "mechanism": true, "llama": [ "Render Network BME" ], "gecko_id": "render-token" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Render 是去中心化 GPU 渲染/AI 算力网络，创作者为渲染与 AI 任务付费（法币换 RENDER 后销毁），节点运营商按排放领 RENDER，OTOY 抽 5% 服务费。", "one_sentence_en": "Render is a decentralized GPU network where creators pay for rendering/AI jobs (RENDER is burned on job completion under BME), node operators earn emissions, and OTOY takes a 5% service fee.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 13 }, { "base": "LDO", "products": { "spot": { "symbol": "LDOUSDT", "stage": 2, "rank": 95, "close": 0.4593 }, "futures": { "symbol": "LDOUSDT", "stage": 2, "rank": 95, "close": 0.459 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 8, "B": 6.0, "C": 2.5, "D": 4, "E": 1 }, "total": 52.7, "capped": false, "no_revenue": false, "metrics": { "market_cap": 378493995, "fdv": 456254463, "fdv_mc": 1.2054470322574073, "fees30": 52153613.0, "rev30": 3228346.0, "hr30": 2252874.0, "hr90": 3031366.0, "hr_prev90": 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"2026-10-08.json" }, "notes": [], "rank": 14 }, { "base": "CRV", "products": { "spot": { "symbol": "CRVUSDT", "stage": 2, "rank": 94, "close": 0.3815 }, "futures": { "symbol": "CRVUSDT", "stage": 2, "rank": 73, "close": 0.3811 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 8, "B": 6.5, "C": 3.25, "D": 2.0, "E": 1 }, "total": 50.9, "capped": false, "no_revenue": false, "metrics": { "market_cap": 612008383, "fdv": 943548470, "fdv_mc": 1.541724747910847, "fees30": 3884060.5100000002, "rev30": 1734437.0, "hr30": 1672608.0, "hr90": 3716926.0, "hr_prev90": 4940690.0, "hr_ann": 15074199.888888888, "holder_yield": 0.024630708185722494, "quarters": 12, "fee_growth": 0.8960687939145852, "tvl_growth": null, "tvl_now": 1526893163.7731106, "tvl_days": 0, "pe": 40.59972585683357, "pe_median_1y": 12.883849196776985, "accel": 0.7523090904306888, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Curve DEX", "Curve LlamaLend", "Curve LlamaLend V2", "crvUSD" ], "gecko_id": "curve-dao-token" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Curve 是稳定币/同类资产 DEX，外加 crvUSD 稳定币与 LlamaLend 借贷；交易者付交换费、借款人付利息，其中一部分每周以 crvUSD 分给锁仓的 veCRV 持有人。", "one_sentence_en": "Curve is a stable/like-asset DEX plus the crvUSD stablecoin and LlamaLend; traders pay swap fees and borrowers pay interest, part of which is paid out weekly in crvUSD to locked veCRV holders.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 15 }, { "base": "SOL", "products": { "spot": { "symbol": "SOLUSDT", "stage": 2, "rank": 4, "close": 116.3 }, "futures": { "symbol": "SOLUSDT", "stage": 2, "rank": 4, "close": 116.24 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 8.0, "C": 5.0, "D": 6, "E": 1 }, "total": 50.5, "capped": false, "no_revenue": false, "metrics": { "market_cap": 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memecoin trading.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 16 }, { "base": "ETH", "products": { "spot": { "symbol": "ETHUSDT", "stage": 2, "rank": 2, "close": 2574.14 }, "futures": { "symbol": "ETHUSDT", "stage": 2, "rank": 2, "close": 2572.88 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 9.0, "C": 4.25, "D": 5, "E": 1 }, "total": 49.4, "capped": false, "no_revenue": false, "metrics": { "market_cap": 312743345076, "fdv": 312743345076, "fdv_mc": 1.0, "fees30": 17696812.0, "rev30": 6035557.0, "hr30": 6035557.0, "hr90": 10472489.0, "hr_prev90": 16917754.0, "hr_ann": 42471760.94444445, "holder_yield": 0.00013580388396153834, "quarters": 12, "fee_growth": 0.7108865219904825, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 7363.559648140952, "pe_median_1y": 5394.886360595729, "accel": 0.6190236008869735, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Ethereum" ], "gecko_id": "ethereum" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "以太坊是最大的通用智能合约结算层，用户与 L2 为区块空间付 gas，基础费销毁、小费与增发给质押者。", "one_sentence_en": "Ethereum is the largest general-purpose smart-contract settlement layer; users and L2s pay gas for blockspace, with base fees burned and tips plus issuance going to stakers.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 17 }, { "base": "NEAR", "products": { "spot": { "symbol": "NEARUSDT", "stage": 2, "rank": 6, "close": 5.335 }, "futures": { "symbol": "NEARUSDT", "stage": 2, "rank": 7, "close": 5.334 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 6.5, "C": 3.5, "D": 6, "E": 5 }, "total": 49.3, "capped": false, "no_revenue": false, "metrics": { "market_cap": 7036292578, "fdv": 7036292653, "fdv_mc": 1.0000000106590223, "fees30": 7458652.0, "rev30": 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revenue funds open-market NEAR buybacks.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 18 }, { "base": "LINK", "products": { "spot": { "symbol": "LINKUSDT", "stage": 2, "rank": 16, "close": 13.326 }, "futures": { "symbol": "LINKUSDT", "stage": 2, "rank": 20, "close": 13.319 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 6, "B": 7.0, "C": 3.5, "D": 4, "E": 1 }, "total": 49.2, "capped": false, "no_revenue": false, "metrics": { "market_cap": 9818635119, "fdv": 13124763411, "fdv_mc": 1.3367197428084812, "fees30": 4452210.0, "rev30": 4394742.0, "hr30": 4394742.0, "hr90": 13474469.0, "hr_prev90": 15004599.0, "hr_ann": 54646457.61111111, "holder_yield": 0.005565585944360533, "quarters": 5, "fee_growth": 0.8921058782581064, "tvl_growth": null, "tvl_now": 0.0, "tvl_days": 0, "pe": 179.67560109520446, "pe_median_1y": 123.30237996719742, "accel": 0.8980225996042946, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Chainlink Requests", "Chainlink Staking" ], "gecko_id": "chainlink" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Chainlink 是去中心化预言机/跨链网络：DeFi 协议与企业客户为价格数据、CCIP 跨链、VRF 等服务付费（可用稳定币，经 Payment Abstraction 兑换为 LINK），链上与链下收入被买成 LINK 存入 Chainlink Reserve；LINK 还用于节点质押。", "one_sentence_en": "Chainlink is a decentralized oracle/cross-chain network: DeFi protocols and enterprises pay for price feeds, CCIP and VRF (payable in stablecoins, converted to LINK via Payment Abstraction); onchain and offchain revenue is swapped into LINK and deposited into the Chainlink Reserve; LINK is also staked by nodes.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 19 }, { "base": "PENDLE", "products": { "spot": { "symbol": "PENDLEUSDT", "stage": 2, "rank": 84, "close": 2.245 }, "futures": { "symbol": "PENDLEUSDT", "stage": 2, "rank": 100, "close": 2.2434 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 6, "B": 7.5, "C": 2.5, "D": 2.0, "E": 1 }, "total": 44.8, "capped": false, "no_revenue": false, "metrics": { "market_cap": 386136547, "fdv": 625681526, "fdv_mc": 1.6203633944030684, "fees30": 431996.0, "rev30": 425340.0, "hr30": 312455.0, "hr90": 1398788.0, "hr_prev90": 2875149.0, "hr_ann": 5672862.444444444, "holder_yield": 0.014691337788454517, "quarters": 12, "fee_growth": 0.4962153964117309, "tvl_growth": null, "tvl_now": 1233489577.1041474, "tvl_days": 0, "pe": 68.06732064835307, "pe_median_1y": 20.883668654489664, "accel": 0.4865097426255126, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Boros", "Pendle V2" ], "gecko_id": "pendle" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "把生息资产拆成本金/收益两半的收益交易所（V2）+ 资金费率衍生品（Boros）；收益交易者和 LP 支付收益抽成（5%）与交易手续费，因为它是 DeFi 固定收益/积分对冲最深的市场。", "one_sentence_en": "Yield-splitting exchange (V2) plus funding-rate derivatives (Boros); yield traders and LPs pay a 5% yield fee and swap fees because it is the deepest venue for fixed yield and points hedging in DeFi.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 20 }, { "base": "AVAX", "products": { "spot": { "symbol": "AVAXUSDT", "stage": 2, "rank": 12, "close": 11.13 }, "futures": { "symbol": "AVAXUSDT", "stage": 2, "rank": 19, "close": 11.123 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 4.0, "C": 3.5, "D": 6, "E": 5 }, "total": 44.3, "capped": false, "no_revenue": false, "metrics": { "market_cap": 4771847464, "fdv": 5058923328, "fdv_mc": 1.0601603186534716, "fees30": 415954.0, "rev30": 415954.0, "hr30": 415954.0, "hr90": 591698.0, "hr_prev90": 299519.0, "hr_ann": 2399664.111111111, "holder_yield": 0.000502879467379201, "quarters": 12, "fee_growth": 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"close": 0.7197 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 5.5, "C": 4.5, "D": 5, "E": 1 }, "total": 42.7, "capped": false, "no_revenue": false, "metrics": { "market_cap": 233495024, "fdv": 251489900, "fdv_mc": 1.0770674924532868, "fees30": 3385957.0, "rev30": 972490.26, "hr30": 49465.74, "hr90": 125693.73999999999, "hr_prev90": 116840.0, "hr_ann": 509757.9455555555, "holder_yield": 0.002183164064153913, "quarters": 9, "fee_growth": 1.614972451479776, "tvl_growth": null, "tvl_now": 69179156.4878416, "tvl_days": 0, "pe": 458.0507788760945, "pe_median_1y": 277.0899406522128, "accel": 1.0757766175967134, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "THORChain DEX" ], "gecko_id": "thorchain" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "THORChain 是原生跨链兑换网络（BTC/ETH 等无包装互换），兑换者付 swap 费，费用分给节点、LP、TCY 持有人，并销毁 5% 作为 RUNE 的通缩回报。", "one_sentence_en": "THORChain is a native cross-chain swap network (BTC/ETH etc. without wrapping); swappers pay swap fees that flow to nodes, LPs and TCY holders, with 5% of fees burned as RUNE's deflationary return.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 22 }, { "base": "DODO", "products": { "spot": { "symbol": "DODOUSDT", "stage": 2, "rank": 160, "close": 0.01804 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 6, "B": 4.0, "C": 1.75, "D": 5, "E": 1 }, "total": 42.6, "capped": false, "no_revenue": false, "metrics": { "market_cap": 18028504, "fdv": 18028504, "fdv_mc": 1.0, "fees30": 237371.0, "rev30": 47456.0, "hr30": 0.0, "hr90": 69175.0, "hr_prev90": 89444.0, "hr_ann": 280543.05555555556, "holder_yield": 0.015561083468465024, "quarters": 2, "fee_growth": 0.8084781885309544, "tvl_growth": null, "tvl_now": 12580796.175302327, "tvl_days": 0, "pe": 64.2628774549361, "pe_median_1y": 45.06133253537551, "accel": 0.7733889360940924, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [ "DODO AMM" ], "gecko_id": "dodo" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "DODO 是多链 PMM（主动做市）算法 DEX 与聚合器，交易者支付 swap 手续费，其中 20% 归协议国库；但 30 日总手续费仅 $23.8 万，生意规模很小。", "one_sentence_en": "DODO is a multi-chain PMM (proactive market maker) DEX and aggregator; traders pay swap fees of which 20% goes to the protocol treasury, but 30-day fees are only ~$238k.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [ "机制执行情况未核" ], "rank": 23 }, { "base": "ALGO", "products": { "spot": { "symbol": "ALGOUSDT", "stage": 2, "rank": 87, "close": 0.1188 }, "futures": { "symbol": "ALGOUSDT", "stage": 2, "rank": 104, "close": 0.11857 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 6.0, "C": 2.25, "D": 5, "E": 1 }, "total": 40.4, "capped": false, "no_revenue": false, "metrics": { "market_cap": 1066782483, "fdv": 1066794826, "fdv_mc": 1.0000115703062216, "fees30": 505.0, "rev30": 505.0, "hr30": 505.0, "hr90": 1351.22, "hr_prev90": 1363.0, "hr_ann": 5479.947777777777, "holder_yield": 5.136893289030297e-06, "quarters": 7, "fee_growth": 0.9913573000733676, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 194670.19144343023, "pe_median_1y": 144503.42691596044, "accel": 0.9913573000733676, "davis": "none", "unlock_12m": 0.02, "mechanism": false, "llama": [ "Algorand" ], "gecko_id": "algorand" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Algorand 是纯 PoS L1，用户用 ALGO 付交易费，质押者按月领取奖励（2026-06 共 6.57M ALGO，主要来自奖励池而非手续费）；企业/机构（VersaBank 存款凭证试点等）为其确定性最终性与低费买单。", "one_sentence_en": "Algorand is a pure-PoS L1; users pay fees in ALGO and stakers receive monthly rewards (6.57M ALGO in June 2026, mostly from the rewards pool rather than fees); enterprises and institutions pay for its deterministic finality and low fees.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [ "评审：分享机制未在执行" ], "rank": 24 }, { "base": "PYTH", "products": { "spot": { "symbol": "PYTHUSDT", "stage": 2, "rank": 111, "close": 0.0738 }, "futures": { "symbol": "PYTHUSDT", "stage": 2, "rank": 127, "close": 0.07372 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 6.0, "C": 3.25, "D": 4.0, "E": 1 }, "total": 39.9, "capped": false, "no_revenue": false, "metrics": { "market_cap": 578401446, "fdv": 734481832, "fdv_mc": 1.2698478488935174, "fees30": 723979.4, "rev30": 434200.5900000001, "hr30": 0.0, "hr90": 1.16, "hr_prev90": 0.0, "hr_ann": 4.704444444444444, "holder_yield": 8.1335281524252e-09, "quarters": 1, "fee_growth": 0.946014273581385, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 122947874.68115258, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.05, "mechanism": true, "llama": [ "Pyth Core", "Pyth Entropy", "Pyth Express Relay", "Pyth Pro" ], "gecko_id": "pyth-network" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Pyth 是第一方金融数据预言机，链上应用按次付更新费、机构按年订阅 Pyth Pro 数据；DAO 份额收入持续买入 PYTH 存入国库。", "one_sentence_en": "Pyth is a first-party financial data oracle; on-chain apps pay per-update fees and institutions subscribe to Pyth Pro, with the DAO's revenue share continuously buying PYTH into the treasury.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 25 }, { "base": "SUI", "products": { "spot": { "symbol": "SUIUSDT", "stage": 2, "rank": 8, "close": 1.1283 }, "futures": { "symbol": "SUIUSDT", "stage": 2, "rank": 9, "close": 1.1275 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 6.5, "C": 2.75, "D": 3, "E": 1 }, "total": 38.1, "capped": false, "no_revenue": false, "metrics": { "market_cap": 4648152231, "fdv": 11286660966, "fdv_mc": 2.4282038119848317, "fees30": 434818.0, "rev30": 310375.0, "hr30": 76222.0, "hr90": 140461.0, "hr_prev90": 142875.0, "hr_ann": 569647.3888888889, "holder_yield": 0.000122553513865086, "quarters": 10, "fee_growth": 1.0829763934087504, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 8159.700758159068, "pe_median_1y": 5284.824308834731, "accel": 0.9831041119860018, "davis": "none", "unlock_12m": 0.19, "mechanism": true, "llama": [ "Sui", "Sui Foundation" ], "gecko_id": "sui" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Sui 是 Mysten Labs 主导的 Move 语言 L1 公链，用户用 SUI 支付计算/存储 gas 给验证者与质押者，开发者和稳定币发行方为其高吞吐与对象模型买单。", "one_sentence_en": "Sui is a Move-based L1 led by Mysten Labs; users pay computation/storage gas in SUI to validators and stakers, and developers and stablecoin issuers pay for its throughput and object model.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 26 }, { "base": "BTC", "products": { "spot": { "symbol": "BTCUSDT", "stage": 2, "rank": 1, "close": 83321.81 }, "futures": { "symbol": "BTCUSDT", "stage": 2, "rank": 1, "close": 83281.9 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 9.5, "C": 4.0, "D": 3, "E": 0 }, "total": 38.0, "capped": false, "no_revenue": true, "metrics": { "market_cap": 1659710599988, "fdv": 1659710599988, "fdv_mc": 1.0, "fees30": 7308230.0, "rev30": 0.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 1.0631628041726378, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [ "Bitcoin" ], "gecko_id": "bitcoin" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "比特币是去中心化的数字货币/价值存储网络，转账者为打包进区块支付手续费给矿工，持有者为获得不可没收、总量固定的货币属性而买入；代币本身不承载分红，收入归矿工。", "one_sentence_en": "Bitcoin is a decentralized monetary network: senders pay fees to miners for block inclusion, and holders buy it for a fixed-supply, censorship-resistant store of value; fees go to miners, not to a token treasury.", "confidence": "high", "_file": "2026-10-08.json" }, "notes": [], "rank": 27 }, { "base": "ICP", "products": { "spot": { "symbol": "ICPUSDT", "stage": 2, "rank": 60, "close": 3.242 }, "futures": { "symbol": "ICPUSDT", "stage": 2, "rank": 72, "close": 3.238 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 4.5, "C": 2.25, "D": 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into cycles (burning ICP) to pay for compute/storage, while node providers and NNS stakers receive issuance that currently far exceeds the burn.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [], "rank": 28 }, { "base": "MET", "products": { "spot": { "symbol": "METUSDT", "stage": 2, "rank": 101, "close": 0.4454 }, "futures": { "symbol": "METUSDT", "stage": 2, "rank": 86, "close": 0.4443 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 6.0, "C": 3.5, "D": 2.0, "E": 1 }, "total": 36.2, "capped": false, "no_revenue": false, "metrics": { "market_cap": 251029231, "fdv": 448980842, "fdv_mc": 1.7885600024006767, "fees30": 34172497.82, "rev30": 4179567.8200000003, "hr30": 100382.0, "hr90": 149237.0, "hr_prev90": 382031.0, "hr_ann": 605238.9444444445, "holder_yield": 0.0024110297515289943, "quarters": 7, "fee_growth": 1.4329951799728837, "tvl_growth": null, "tvl_now": 270467175.79540986, "tvl_days": 0, "pe": 414.76053929481105, "pe_median_1y": 13.62653143418708, "accel": 0.39064107363015044, "davis": "none", "unlock_12m": 0.054, "mechanism": true, "llama": [ "Meteora DAMM V1", "Meteora DAMM V2", "Meteora DLMM", "Meteora Dynamic Bonding Curve", "Metronome Synth" ], "gecko_id": "meteora" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Meteora 是 Solana 上的 DEX/流动性协议（DLMM、DAMM、发射台曲线），交易者为换币支付手续费，大头给 LP、协议抽成一部分，其中 10% 的 DLMM 协议费以 USDC 分给 MET 质押者并用于回购 MET。", "one_sentence_en": "Meteora is a Solana DEX/liquidity protocol (DLMM, DAMM, launch curves); traders pay swap fees, mostly to LPs, and the protocol's cut partly funds USDC rewards to MET stakers (10% of DLMM protocol fees) and MET buybacks.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 29 }, { "base": "INJ", "products": { "spot": { "symbol": "INJUSDT", "stage": 2, "rank": 39, "close": 7.465 }, "futures": { "symbol": "INJUSDT", "stage": 2, "rank": 46, "close": 7.46 } }, "status": "ok", "red_lines": [], "audit": { "file": "2026-10-08.json", "B_first": 5.0, "B_audit": 5.5, "C_first": 1.0, "C_audit": 3.0 }, "scores": { "A": 4, "B": 5.0, "C": 1.5, "D": 4.0, "E": 1 }, "total": 35.2, "capped": false, "no_revenue": false, "metrics": { "market_cap": 736512652, "fdv": 736512652, "fdv_mc": 1.0, "fees30": 225694.0, "rev30": 225694.0, "hr30": 225694.0, "hr90": 690157.0, "hr_prev90": 845242.0, "hr_ann": 2798970.0555555555, "holder_yield": 0.0038003013905531053, "quarters": 12, "fee_growth": 0.8165200025554812, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 263.1370244701717, "pe_median_1y": 108.52145461238703, "accel": 0.8165200025554812, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Injective" ], "gecko_id": "injective-protocol" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Injective 是一条面向金融应用的 L1，链上 dApp（交易所等）的用户付手续费，部分生态收入每月通过 Community BuyBack 分给承诺并销毁 INJ 的持币人。", "one_sentence_en": "Injective is a finance-focused L1; users of on-chain dApps pay fees, and a share of ecosystem revenue is distributed monthly via the Community BuyBack to holders who commit INJ that is then burned.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 30 } ], "changes": { "first": true, "new": [ "AERO", "ALGO", "AVAX", "BNB", "BTC", "CAKE", "CRV", "DODO", "ETH", "ICP", "INJ", "JUP", "LDO", "LINK", "MET", "NEAR", "ORCA", "PENDLE", "PUMP", "PYTH", "RAY", "RENDER", "RUNE", "SKY", "SOL", "SPK", "SUI", "TRX", "UNI", "VVV" ], "dropped": [], "moved": [], "davis": [ "UNI", "BNB", "VVV", "RENDER" ] }, "red_line_list": [ { "base": "4", "red_lines": [ "R4" ], "one_sentence_zh": "“4”是 2025-10 BNB Chain 官方 X 账号被盗事件后诞生的社区 meme 币，借 CZ 的“4=ignore FUD”梗传播；10 亿总量全流通，无任何功能、治理或收入，没有人为它付钱。" }, { "base": "AKE", "red_lines": [ "R3" ], "one_sentence_zh": "Akedo 是 BNB Chain 上用多智能体 AI 把自然语言提示生成游戏的创作平台与发射台，据称创作者用 AKE 支付提示/发布费；但付费规模与收入完全没有公开数据。" }, { "base": "ALLO", "red_lines": [ "R3" ], "one_sentence_zh": "Allora 是去中心化机器学习推理网络，消费者按「随意付费」模式用 ALLO 购买预测推理、worker/reputer 质押并获增发奖励；付费规模无可核数据。" }, { "base": "BABY", "red_lines": [ "R3" ], "one_sentence_zh": "Babylon 是原生比特币质押/信用基础设施：BTC 持有人自托管锁仓为 PoS 链提供安全并取酬，被保护的链（BSN）与借贷应用理论上为此付费；BABY 是 Babylon Genesis 链代币，但谁在付、付多少本次未能核实。" }, { "base": "BOME", "red_lines": [ "R4" ], "one_sentence_zh": "BOME 是 Pepe 画师 Darkfarms 于 2024-03 在 Solana 预售发行的 meme 币，叙事是用 Arweave/IPFS 永久存档 meme 文化；没有收入，没有人为它付钱。" }, { "base": "BR", "red_lines": [ "R3" ], "one_sentence_zh": "Bedrock 是多资产流动性再质押协议（uniBTC/uniETH/uniIOTX），存款人把 BTC/ETH/IOTX 质押换取流动凭证，协议从质押收益抽成与 uniBTC 赎回费获利；BR 是治理代币，目前不承接收入。" }, { "base": "BROCCOLI714", "red_lines": [ "R4" ], "one_sentence_zh": "BROCCOLI714 是 2025-02-21 经 four.meme 在 BNB Chain 发行、以 CZ 的狗 Broccoli 命名的社区 meme 币，没有任何人为它付钱，价值完全来自投机与 BNB 生态吉祥物叙事。" }, { "base": "DOGE", "red_lines": [ "R4" ], "one_sentence_zh": "Dogecoin 是 2013 年起的 PoW 支付型 meme 币：用户付转账手续费、矿工每块领 10,000 DOGE（年增≈50 亿、无上限）；没有协议收入，也没有任何现金流回到持币人。" }, { "base": "EIGEN", "red_lines": [ "R3" ], "one_sentence_zh": "EigenCloud（原 EigenLayer）是以太坊再质押平台，AVS/应用方付费租用再质押的 ETH/EIGEN 安全性与 EigenDA/EigenCompute 云服务，运营者与质押者分得报酬；目前对 AVS 的 EIGEN 激励排放（~$57M/年）远大于实际费用（~$12M/年），回购仍是提案阶段。" }, { "base": "FARTCOIN", "red_lines": [ "R4", "R5" ], "one_sentence_zh": "Fartcoin 是 2024-10 由 AI 聊天机器人 Truth Terminal 提议、社区在 Pump.fun 上发行的 Solana meme 币，无产品、无收入、无人为任何服务付钱，价值完全来自注意力与投机。" }, { "base": "FLOCK", "red_lines": [ "R1", "R3" ], "one_sentence_zh": "FLock.io 是去中心化 AI 模型训练/验证网络（AI Arena 质押+FOMO 发射台），理论上由任务发起方和发射台交易者付费，但 30 天链上费用仅 $247，几乎没人付钱。" }, { "base": "GIGGLE", "red_lines": [ "R4" ], "one_sentence_zh": "GIGGLE 是 BNB 链社区发起的慈善 meme 币，每笔交易抽 5% 捐给 Giggle Academy；没有产品、没有客户付费，买家只是在投机。" }, { "base": "HOLO", "red_lines": [ "R1", "R3" ], "one_sentence_zh": "Holoworld 是 AI 角色/视频创作与代币发射平台（Ava Studio、HoloLaunch），创作者为生成内容付费、项目方为发射付费，但收入未证实流回 HOLO。" }, { "base": "HUMA", "red_lines": [ "R3" ], "one_sentence_zh": "PayFi 网络：跨境汇款/支付机构（如 Arf、Rain）借用链上稳定币流动性做 T+0 结算并按天付费，LP 拿这笔费用做收益；HUMA 是其治理与激励代币。" }, { "base": "HYPE", "red_lines": [ "R3" ], "one_sentence_zh": "Hyperliquid 是一条自带链上订单簿的永续合约/现货交易所 L1，交易者为撮合与杠杆付手续费，约 97% 的手续费由系统地址自动换成 HYPE 并销毁。" }, { "base": "JST", "red_lines": [ "R2" ], "one_sentence_zh": "TRON 上最大借贷协议 JustLend 及 USDJ/USDD 稳定币套件的治理代币；借款人付利息、能量租赁用户付租金，因为它是 TRON 上几乎唯一成规模的借贷场所。" }, { "base": "KMNO", "red_lines": [ "R3" ], "one_sentence_zh": "Kamino 是 Solana 上最大的借贷与流动性管理协议（TVL $1.43B），借款人付利息、清算费和开仓费，协议留存利差；KMNO 目前只是治理/积分加成代币，收入不回流。" }, { "base": "LIT", "red_lines": [ "R3" ], "one_sentence_zh": "Lighter 是 zk 订单簿永续合约 DEX（Robinhood Wallet 内置），做市商/高频交易者付 maker/taker 费，零售零手续费；协议用手续费回购并销毁 LIT。" }, { "base": "LSK", "red_lines": [ "R4" ], "one_sentence_zh": "Lisk 原是 OP Stack 以太坊 L2，已宣布 2026-10-31 关停链并转型为面向企业的法币/稳定币财务平台，LSK 将变成该平台的‘忠诚度代币’（企业用平台可赚 LSK、可抵扣费用），DAO 拟解散、治理合约暂停。" }, { "base": "MON", "red_lines": [ "R3" ], "one_sentence_zh": "Monad 是高性能并行执行的 EVM 兼容 L1：用户用 MON 付 gas，base fee 销毁、priority fee 归验证者；MON 同时是质押与验证者奖励代币。" }, { "base": "MUBARAK", "red_lines": [ "R4" ], "one_sentence_zh": "MUBARAK 是 2025-03 在 BNB 链 Four.meme 发射、后被 Binance 投票上币的阿拉伯语'祝福'主题 meme 币，没有产品、没有收入，没有人为它付钱。" }, { "base": "NEIRO", "red_lines": [ "R4" ], "one_sentence_zh": "以 Kabosu（Doge 原型）主人新收养的柴犬 Neiro 为题材的以太坊 meme 币；没有人为它付钱，价值完全来自投机与社区注意力。" }, { "base": "NIL", "red_lines": [ "R3" ], "one_sentence_zh": "Nillion 是「盲计算/加密市场」隐私基础设施网络（nilDB、nilAI、Covenants 条件密封交易），开发者与应用理论上用 NIL 付费购买加密存储与计算，但目前没有可核实的付费规模。" }, { "base": "ONE", "red_lines": [ "R5", "R6" ], "one_sentence_zh": "Harmony 原是分片 PoS 公链（ONE 付 gas 与质押），2026-08 遭增发漏洞攻击后提议关停自有 L1、把 ONE 迁成以太坊 ERC-20 并转向“AI 视频 Remix 经济”，新业务谁付钱尚无落地。" }, { "base": "ORDI", "red_lines": [ "R4", "R5" ], "one_sentence_zh": "ORDI 是 2023-03 由匿名开发者 domo 部署的第一个 BRC-20 铭文代币（2100 万枚固定），余额由链下索引器解析铭文推断，没有团队、国库、收入或任何权利，只是比特币铭文经济的交易标的。" }, { "base": "PEOPLE", "red_lines": [ "R4" ], "one_sentence_zh": "PEOPLE 是 2021 年 ConstitutionDAO 竞拍美国宪法副本失败后留下的退款凭证代币（100 万 PEOPLE 可赎 1 ETH 原始出资），官方明确“除赎回 ETH 外无任何权利、治理或用途”，现为历史性 meme 资产，没有人为它付钱。" }, { "base": "PEPE", "red_lines": [ "R4", "R6" ], "one_sentence_zh": "PEPE 是以太坊上基于青蛙 Pepe 表情包的 meme 币：固定供应 420.69 万亿，无产品、无收入、无治理，匿名团队多签持有 6.9% 初始分配用于上所与推广，没有人为任何服务付钱。" }, { "base": "PIEVERSE", "red_lines": [ "R3" ], "one_sentence_zh": "Pieverse 自述为 BNB Chain/以太坊上的 web3 AI 智能体平台（官网：部署带技能的 AI 代理到消息渠道，含加密支付/发票/收据流程），早期宣传为「链上支付合规时间戳」；谁付钱、付多少、代币承载什么权利均无可核实信息。" }, { "base": "PLUME", "red_lines": [ "R1" ], "one_sentence_zh": "Plume 是面向 RWA 代币化的 EVM 公链，用户以 PLUME 付 gas、质押保护网络，但链上 30 天 gas 费仅 $2,395，付费几乎不存在。" }, { "base": "RAYSOL", "red_lines": [ "R4", "R5" ], "one_sentence_zh": "RAYSOL 只能查到是 Binance 的一个 USDT 本位永续合约（RAYSOLUSDT，未平仓约 $1,600 万），CoinGlass 显示流通量 0、市值 0、现货成交 0；我无法确认它对应什么项目、是否有现货代币、谁付钱——说不清。" }, { "base": "SHIB", "red_lines": [ "R4" ], "one_sentence_zh": "SHIB 是 2020 年匿名创始人 Ryoshi 发行的以太坊 meme 币；生态 L2 Shibarium 用 BONE 付 gas 并把一小部分手续费换成 SHIB 销毁，但没有人为 SHIB 本身付钱、SHIB 也不承载治理（治理在 BONE）。" }, { "base": "SOLV", "red_lines": [ "R3" ], "one_sentence_zh": "Solv Protocol 是 BTC 收益平台：BTC 持有人存入换取 SolvBTC/xSolvBTC 并进入收益金库，Solv 从金库收益中抽绩效费及申购/赎回费；SOLV 代币目前只有治理与期权价值，不分享这些现金流。" }, { "base": "SPX", "red_lines": [ "R4" ], "one_sentence_zh": "SPX6900 是以太坊上的 meme 币（亦桥至 Solana/Base），叙事是“6900 > 500”戏仿标普 500；10 亿总量 93% 流通、23.6 万持有人，没有任何功能、治理或收入，没有人为它付钱。" }, { "base": "TAKE", "red_lines": [ "R3" ], "one_sentence_zh": "OVERTAKE 是 BNB 链上的游戏资产 P2P 交易市场（智能合约托管+AI 工具）：买卖双方按 GMV 付约 10% 手续费（白皮书称为“示意模型”）；TAKE 用于质押、治理与费用折扣，目前无可核的收入。" }, { "base": "TST", "red_lines": [ "R4" ], "one_sentence_zh": "TST 是 BNB Chain 团队 2025-02 在 Four.meme 教学视频里无意暴露的'测试币'，被炒作成 meme 币：无产品、无收入、无团队（创建者私钥已被删除），没有人为任何东西付钱。" }, { "base": "TUT", "red_lines": [ "R4" ], "one_sentence_zh": "TUT 源自一个'教你在 BNB 链发币'的教学视频演示代币，经 Four.meme 发射后演变为带 AI 教学助手叙事的 meme 币；没有收入，没有人为它付钱。" }, { "base": "USELESS", "red_lines": [ "R4", "R5" ], "one_sentence_zh": "USELESS 是 2025 年 5 月经 LetsBONK 发射的 Solana meme 币，自我定义为'什么都不做'，没有任何人为任何服务付钱，价格完全靠社区情绪与投机接盘。" }, { "base": "WIF", "red_lines": [ "R4" ], "one_sentence_zh": "WIF 是 Solana 上的'戴帽子的狗'meme 币：没有产品、没有收入、没有人为任何服务付钱，价值完全来自投机与文化传播。" }, { "base": "WLD", "red_lines": [ "R1" ], "one_sentence_zh": "World 是用虹膜扫描 Orb 发放'人类证明'身份（World ID）并配套钱包 World App 的网络，WLD 是其治理/支付代币；目前没有人为 World ID 付钱，运营靠基金会卖币（2026-03 卖出 2.39 亿 WLD 换 $65M）。" }, { "base": "XPL", "red_lines": [ "R3" ], "one_sentence_zh": "Plasma 是为稳定币支付定制的 EVM L1：USDT 转账零手续费（协议补贴），其他交易付 XPL gas 且 base fee 永久销毁；XPL 用于验证者质押与奖励（5%→3% 年通胀）。" }, { "base": "ZAMA", "red_lines": [ "R3" ], "one_sentence_zh": "Zama 是全同态加密（FHE）保密计算协议，dApp 为加密/解密/协处理服务以 ZAMA（按美元计价）付费且 100% 销毁，运营者与质押者靠每年约 5% 的增发获酬；代币 2026-02 上线，目前未找到任何可核的付费用量。" }, { "base": "币安人生", "red_lines": [ "R4" ], "one_sentence_zh": "币安人生是 2025-10 在 BNB Chain（Four.meme 生态）诞生的中文 meme 币，玩'过上币安人生'的梗：无产品、无收入、无团队、无治理，10 亿枚上线即全流通，没有人为任何服务付钱。" }, { "base": "我踏马来了", "red_lines": [ "R4" ], "one_sentence_zh": "我踏马来了 是 2026 年初在 BNB 链出现的中文谐音梗（'我他妈来了'）马年主题 meme 币，标准 BEP-20，没有产品、没有收入，没有人为它付钱。" } ], "pending_list": [ "BULLA" ], "all": [ { "base": "4", "products": { "futures": { "symbol": "4USDT", "stage": 2, "rank": 138, "close": 0.017689 } }, "status": "red_line", "red_lines": [ "R4" ], "audit": null, "scores": { "A": 0, "B": 1.5, "C": 0.5, "D": 3, "E": 0 }, "total": 9.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 17435517, "fdv": 17435517, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": "4-2" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "“4”是 2025-10 BNB Chain 官方 X 账号被盗事件后诞生的社区 meme 币，借 CZ 的“4=ignore FUD”梗传播；10 亿总量全流通，无任何功能、治理或收入，没有人为它付钱。", "one_sentence_en": "'4' is a BNB Chain memecoin born from the Oct-2025 BNB Chain X-account hijack, riding CZ's '4 = ignore FUD' meme; 1B fully circulating, with no utility, governance or revenue and nobody paying for it.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "AAVE", "products": { "spot": { "symbol": "AAVEUSDT", "stage": 2, "rank": 28, "close": 174.08 }, "futures": { "symbol": "AAVEUSDT", "stage": 2, "rank": 29, "close": 173.98 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 8.5, "C": 3.0, "D": 3, "E": 0 }, "total": 34.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 2673023676, "fdv": 2770768209, "fdv_mc": 1.0365670285218977, "fees30": 37842529.0, "rev30": 4942618.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 732104.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 0.6724673396527701, "tvl_growth": null, "tvl_now": 18474681196.6101, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Aave V2", "Aave V3", "Aave V4" ], "gecko_id": "aave" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Aave 是最大的链上借贷协议，借款人付利息、被清算者付清算罚金、GHO 借款人付铸造费，协议抽成进 DAO 国库，并自 2025-04 起用国库收入在二级市场回购 AAVE（2026-06-27 起改为不可变的自动化回购）。", "one_sentence_en": "Aave is the largest on-chain lending protocol; borrowers pay interest, liquidated users pay penalties and GHO minters pay fees, the protocol's cut goes to the DAO treasury, which has bought back AAVE on secondary markets since April 2025 (automated and immutable since 27 June 2026).", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 31 }, { "base": "ACE", "products": { "spot": { "symbol": "ACEUSDT", "stage": 2, "rank": 71, "close": 0.1773 }, "futures": { "symbol": "ACEUSDT", "stage": 2, "rank": 121, "close": 0.17716 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 3.0, "C": 1.0, "D": 2, "E": 0 }, "total": 11.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 21094743, "fdv": 27194574, "fdv_mc": 1.2891635607980623, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.15, "mechanism": null, "llama": [], "gecko_id": "endurance" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Fusionist 是 Unity 制作的 Web3 机甲游戏加其专属 EVM 侧链 Endurance，ACE 是链的 gas 与游戏内道具/门票支付代币；理论上由玩家付费，但目前查不到任何可核实的收入或活跃玩家数据。", "one_sentence_en": "Fusionist is a Unity-built Web3 mech game with its own EVM sidechain Endurance; ACE is the chain's gas and in-game item/ticket currency, nominally paid by players, but no verifiable revenue or active-player data could be found.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 75 }, { "base": "AERO", "products": { "futures": { "symbol": "AEROUSDT", "stage": 2, "rank": 88, "close": 0.795 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 10, "B": 7.5, "C": 4.0, "D": 3, "E": 5 }, "total": 67.0, "capped": false, "no_revenue": false, "metrics": { "market_cap": 782248938, "fdv": 1555392316, "fdv_mc": 1.9883597668751325, "fees30": 19463329.0, "rev30": 15399745.0, "hr30": 15399745.0, "hr90": 24406791.0, "hr_prev90": 16085676.0, "hr_ann": 98983096.83333333, "holder_yield": 0.12653656914690925, "quarters": 12, "fee_growth": 1.1076878879684517, "tvl_growth": null, "tvl_now": 374530064.48779255, "tvl_days": 0, "pe": 7.902853750041205, "pe_median_1y": 4.990236337695325, "accel": 1.5172996770542935, "davis": "accel", "unlock_12m": null, "mechanism": true, "llama": [ "Aero Lite", "Aerodrome Slipstream", "Aerodrome V1" ], "gecko_id": "aerodrome-finance" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Aerodrome 是 Base 链上最大的 DEX（ve(3,3) 模型），交易者为每笔兑换支付手续费、项目方为引导流动性支付贿选，100% 手续费与贿选按投票分给锁仓的 veAERO 持有者。", "one_sentence_en": "Aerodrome is the dominant DEX on Base (ve(3,3) model): traders pay swap fees and protocols pay bribes to direct emissions, and 100% of those fees/bribes are distributed weekly to veAERO lockers who vote.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 3 }, { "base": "AGT", "products": { "futures": { "symbol": "AGTUSDT", "stage": 2, "rank": 200, "close": 0.025557 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 2.5, "C": 0.75, "D": 1, "E": 0 }, "total": 8.1, "capped": false, "no_revenue": true, "metrics": { "market_cap": null, "fdv": null, "fdv_mc": null, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.08, "mechanism": false, "llama": [], "gecko_id": null }, "review": { "review_date": "2026-10-08", "model_id": "claude-opus-5-5", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Alaya AI 是 BNB Chain 上的游戏化 AI 数据采集/标注平台：用户做标注任务赚积分（AIA）再兑换 AGT，项目方称向需要训练数据的企业/AI 开发者收费，但收费规模无法独立核实。", "one_sentence_en": "Alaya AI is a gamified AI data collection/labeling platform on BNB Chain: contributors earn AIA points for labeling tasks that convert into AGT, and the project claims to charge enterprises/AI developers for datasets, but that revenue cannot be independently verified.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 89 }, { "base": "AKE", "products": { "futures": { "symbol": "AKEUSDT", "stage": 2, "rank": 23, "close": 0.027448 } }, "status": "red_line", "red_lines": [ "R3" ], "audit": null, "scores": { "A": 0, "B": 1.5, "C": 0.5, "D": 0.0, "E": 0 }, "total": 3.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 610729511, "fdv": 2679078843, "fdv_mc": 4.386686404941058, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.77, "mechanism": null, "llama": [], "gecko_id": "akedo" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Akedo 是 BNB Chain 上用多智能体 AI 把自然语言提示生成游戏的创作平台与发射台，据称创作者用 AKE 支付提示/发布费；但付费规模与收入完全没有公开数据。", "one_sentence_en": "Akedo is a BNB Chain multi-agent AI platform and launchpad that turns natural-language prompts into games; creators are said to pay prompting/publishing fees in AKE, but there is no public data on payers or revenue.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "ALGO", "products": { "spot": { "symbol": "ALGOUSDT", "stage": 2, "rank": 87, "close": 0.1188 }, "futures": { "symbol": "ALGOUSDT", "stage": 2, "rank": 104, "close": 0.11857 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 6.0, "C": 2.25, "D": 5, "E": 1 }, "total": 40.4, "capped": false, "no_revenue": false, "metrics": { "market_cap": 1066782483, "fdv": 1066794826, "fdv_mc": 1.0000115703062216, "fees30": 505.0, "rev30": 505.0, "hr30": 505.0, "hr90": 1351.22, "hr_prev90": 1363.0, "hr_ann": 5479.947777777777, "holder_yield": 5.136893289030297e-06, "quarters": 7, "fee_growth": 0.9913573000733676, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 194670.19144343023, "pe_median_1y": 144503.42691596044, "accel": 0.9913573000733676, "davis": "none", "unlock_12m": 0.02, "mechanism": false, "llama": [ "Algorand" ], "gecko_id": "algorand" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Algorand 是纯 PoS L1，用户用 ALGO 付交易费，质押者按月领取奖励（2026-06 共 6.57M ALGO，主要来自奖励池而非手续费）；企业/机构（VersaBank 存款凭证试点等）为其确定性最终性与低费买单。", "one_sentence_en": "Algorand is a pure-PoS L1; users pay fees in ALGO and stakers receive monthly rewards (6.57M ALGO in June 2026, mostly from the rewards pool rather than fees); enterprises and institutions pay for its deterministic finality and low fees.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [ "评审：分享机制未在执行" ], "rank": 24 }, { "base": "ALICE", "products": { "spot": { "symbol": "ALICEUSDT", "stage": 2, "rank": 154, "close": 0.1755 }, "futures": { "symbol": "ALICEUSDT", "stage": 2, "rank": 159, "close": 0.1753 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 2.5, "C": 1.0, "D": 3, "E": 0 }, "total": 12.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 17210137, "fdv": 17210137, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": "my-neighbor-alice" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "My Neighbor Alice 是 Chromia 链上的全链 3D 多人经营游戏，玩家用 ALICE 购买土地/NFT 与在游戏内交易，ALICE 也可质押与参与治理；玩家规模与付费数据未找到。", "one_sentence_en": "My Neighbor Alice is a fully on-chain 3D multiplayer builder game on Chromia; players spend ALICE on land/NFTs and in-game trades, and ALICE can be staked and used for governance, but no player or revenue data was found.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 72 }, { "base": "ALLO", "products": { "spot": { "symbol": "ALLOUSDT", "stage": 2, "rank": 156, "close": 0.2577 }, "futures": { "symbol": "ALLOUSDT", "stage": 2, "rank": 152, "close": 0.25768 } }, "status": "red_line", "red_lines": [ "R3" ], "audit": { "file": "2026-10-08.json", "B_first": 3.0, "B_audit": 2.5, "C_first": 1.25, "C_audit": 1.0 }, "scores": { "A": 0, "B": 3.0, "C": 1.25, "D": 0.0, "E": 0 }, "total": 7.9, "capped": false, "no_revenue": true, "metrics": { "market_cap": 65660724, "fdv": 203012242, "fdv_mc": 3.0918367881536, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 1.18, "mechanism": null, "llama": [], "gecko_id": "allora" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Allora 是去中心化机器学习推理网络，消费者按「随意付费」模式用 ALLO 购买预测推理、worker/reputer 质押并获增发奖励；付费规模无可核数据。", "one_sentence_en": "Allora is a decentralized ML inference network where consumers buy predictions with ALLO under pay-what-you-want pricing and workers/reputers stake for emissions; paying demand has no verifiable data.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "APE", "products": { "spot": { "symbol": "APEUSDT", "stage": 2, "rank": 166, "close": 0.1504 }, "futures": { "symbol": "APEUSDT", "stage": 2, "rank": 166, "close": 0.1502 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 2.0, "C": 1.0, "D": 3, "E": 0 }, "total": 11.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 146867509, "fdv": 146867509, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [], "gecko_id": "apecoin" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "APE 是 Yuga Labs 生态（BAYC/Otherside/ApeChain）的代币，2025-06 Yuga 提议解散 ApeCoin DAO、把约 1.69 亿 APE 国库移交其设立的 ApeCo 并取消持币人全部治理权；APE 目前的用途是 ApeChain gas 与国库补贴的质押，没有外部付费方为 APE 付钱。", "one_sentence_en": "APE is the token of the Yuga Labs ecosystem (BAYC/Otherside/ApeChain); in June 2025 Yuga proposed dissolving the ApeCoin DAO, moving its ~169M-APE treasury to Yuga-run ApeCo and removing all tokenholder governance rights; APE's remaining uses are ApeChain gas and treasury-subsidised staking, with no external party paying for APE.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 76 }, { "base": "AR", "products": { "spot": { "symbol": "ARUSDT", "stage": 2, "rank": 74, "close": 4.242 }, "futures": { "symbol": "ARUSDT", "stage": 2, "rank": 91, "close": 4.238 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 5.5, "C": 2.0, "D": 3, "E": 0 }, "total": 20.0, "capped": false, "no_revenue": true, "metrics": { "market_cap": 272283993, "fdv": 272283993, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [], "gecko_id": "arweave" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Arweave 是'一次付费、永久存储'的去中心化存储网络：上传数据的用户/应用用 AR 支付一次性存储费，大部分进入存储捐赠基金（endowment）、其余付给矿工，AR 同时是矿工奖励代币；AO 是建在其上的计算层。", "one_sentence_en": "Arweave is a pay-once, store-forever decentralized storage network: uploaders pay a one-time fee in AR, most of which goes into the storage endowment and the rest to miners; AR is also the mining reward token; AO is the compute layer built on it.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 51 }, { "base": "ARB", "products": { "spot": { "symbol": "ARBUSDT", "stage": 2, "rank": 21, "close": 0.1858 }, "futures": { "symbol": "ARBUSDT", "stage": 2, "rank": 24, "close": 0.18556 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 8.0, "C": 2.5, "D": 2, "E": 0 }, "total": 30.7, "capped": false, "no_revenue": true, "metrics": { "market_cap": 1241260467, "fdv": 1829263606, "fdv_mc": 1.473714546328172, "fees30": 1713392.0, "rev30": 1502133.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 3.5581779317589777, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.14, "mechanism": false, "llama": [ "Arbitrum", "Arbitrum Nitro", "Arbitrum Timeboost" ], "gecko_id": "arbitrum" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Arbitrum 是以太坊 Optimistic Rollup L2，用户为交易支付 gas（ETH）、搜索者为 Timeboost 优先排序竞价付 ETH、Orbit/Expansion 链付许可费，收入归 DAO 国库；ARB 是 DAO 治理代币，目前不分收入。", "one_sentence_en": "Arbitrum is an Ethereum optimistic rollup; users pay gas in ETH, searchers pay ETH for Timeboost priority auctions, Orbit/Expansion chains pay licence fees, all accruing to the DAO treasury; ARB is the governance token and currently receives no revenue.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 36 }, { "base": "ARK", "products": { "spot": { "symbol": "ARKUSDT", "stage": 2, "rank": 90, "close": 0.2143 }, "futures": { "symbol": "ARKUSDT", "stage": 2, "rank": 70, "close": 0.2136 } }, "status": "ok", "red_lines": [], "audit": { "file": "2026-10-08.json", "B_first": 2.0, "B_audit": 2.0, "C_first": 0.0, "C_audit": 0.5 }, "scores": { "A": 0, "B": 2.0, "C": 0.0, "D": 3, "E": 0 }, "total": 10.0, "capped": false, "no_revenue": true, "metrics": { "market_cap": 41921906, "fdv": 41922190, "fdv_mc": 1.0000067745011403, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [], "gecko_id": "ark" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "ARK 是 2016 年起的 DPoS L1 与链开发框架（正迁往 EVM 兼容的 Mainsail），ARK 用于付链上手续费与投票给验证者，验证者按区块奖励分润；但链上使用极少（累计 570 万笔交易、20.6 万地址），没有外部付费方。", "one_sentence_en": "ARK is a DPoS L1 and blockchain-development framework from 2016 (migrating to the EVM-compatible Mainsail); ARK pays on-chain fees and votes for validators who share block rewards, but usage is minimal (5.7M lifetime txs, 206K addresses) with no external paying customer.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 84 }, { "base": "AVA", "products": { "spot": { "symbol": "AVAUSDT", "stage": 2, "rank": 131, "close": 0.2263 }, "futures": { "symbol": "AVAUSDT", "stage": 2, "rank": 108, "close": 0.226 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 5.5, "C": 1.5, "D": 1, "E": 0 }, "total": 15.3, "capped": false, "no_revenue": true, "metrics": { "market_cap": null, "fdv": null, "fdv_mc": null, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": null, "mechanism": true, "llama": [], "gecko_id": null }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Travala 是接受加密支付的在线旅行社（220 万酒店/600 家航司），旅客为订房订票付钱；锁 AVA 成为 AVA Smart 会员可拿折扣与返利，基金会与 Travala 每月按返利量在公开市场回购 AVA（一半补充奖励池、一半永久锁入储备）。", "one_sentence_en": "Travala is a crypto-accepting online travel agency (2.2M hotels/600 airlines); travelers pay for bookings. Locking AVA for AVA Smart membership gives discounts and givebacks, and the Foundation plus Travala buy back AVA monthly in proportion to givebacks (half replenishing rewards, half permanently locked in a reserve).", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 61 }, { "base": "AVAX", "products": { "spot": { "symbol": "AVAXUSDT", "stage": 2, "rank": 12, "close": 11.13 }, "futures": { "symbol": "AVAXUSDT", "stage": 2, "rank": 19, "close": 11.123 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 4.0, "C": 3.5, "D": 6, "E": 5 }, "total": 44.3, "capped": false, "no_revenue": false, "metrics": { "market_cap": 4771847464, "fdv": 5058923328, "fdv_mc": 1.0601603186534716, "fees30": 415954.0, "rev30": 415954.0, "hr30": 415954.0, "hr90": 591698.0, "hr_prev90": 299519.0, "hr_ann": 2399664.111111111, "holder_yield": 0.000502879467379201, "quarters": 12, "fee_growth": 1.9754940421141898, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 1988.5480813356426, "pe_median_1y": 1554.2882030224446, "accel": 1.9754940421141898, "davis": "accel", "unlock_12m": null, "mechanism": true, "llama": [ "Avalanche" ], "gecko_id": "avalanche-2" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Avalanche 是支持自定义 L1（子网）的 PoS 公链，用户和应用为每笔交易支付 AVAX 手续费（全部销毁），验证者靠质押增发获得奖励。", "one_sentence_en": "Avalanche is a PoS L1 with customizable L1s (subnets); users and apps pay AVAX transaction fees which are fully burned, while validators are paid via staking issuance.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 21 }, { "base": "BABY", "products": { "spot": { "symbol": "BABYUSDT", "stage": 1, "rank": 47, "close": 0.01316 } }, "status": "red_line", "red_lines": [ "R3" ], "audit": null, "scores": { "A": 0, "B": 4.0, "C": 1.0, "D": 1, "E": 0 }, "total": 11.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 62937992, "fdv": 141767301, "fdv_mc": 2.252491642885588, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.34, "mechanism": null, "llama": [], "gecko_id": "babylon" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Babylon 是原生比特币质押/信用基础设施：BTC 持有人自托管锁仓为 PoS 链提供安全并取酬，被保护的链（BSN）与借贷应用理论上为此付费；BABY 是 Babylon Genesis 链代币，但谁在付、付多少本次未能核实。", "one_sentence_en": "Babylon is native-Bitcoin staking/credit infrastructure: BTC holders self-custodially lock coins to secure PoS chains for rewards, and secured chains (BSNs) and lending apps are meant to pay for it; BABY is the Babylon Genesis chain token, but who pays and how much could not be verified here.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "BIO", "products": { "spot": { "symbol": "BIOUSDT", "stage": 2, "rank": 180, "close": 0.02994 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 4.5, "C": 2.0, "D": 1, "E": 0 }, "total": 14.0, "capped": false, "no_revenue": true, "metrics": { "market_cap": 63412042, "fdv": 98146913, "fdv_mc": 1.5477645870479932, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.12, "mechanism": false, "llama": [], "gecko_id": "bio-protocol" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Bio Protocol 是 DeSci 发射台与资金层：科研项目/BioDAO 通过 Ignition 销售向社区募资，质押 BIO 得到 veBIO 的人按比例分到新项目代币并对新 BioDAO 与 IP 提案投票；目前没有可核实的协议收入回到 BIO。", "one_sentence_en": "Bio Protocol is a DeSci launchpad and funding layer: research projects/BioDAOs raise from the community via Ignition sales, and BIO stakers (veBIO) receive pro-rata allocations of new project tokens and vote on new BioDAOs and IP proposals; there is no verifiable protocol revenue flowing back to BIO today.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 65 }, { "base": "BNB", "products": { "spot": { "symbol": "BNBUSDT", "stage": 2, "rank": 7, "close": 772.45 }, "futures": { "symbol": "BNBUSDT", "stage": 2, "rank": 11, "close": 772.68 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 8.0, "C": 3.5, "D": 7, "E": 9 }, "total": 58.2, "capped": false, "no_revenue": false, "metrics": { "market_cap": 102225550259, "fdv": 102225548148, "fdv_mc": 0.9999999793495854, "fees30": 22655124.0, "rev30": 3944801.0, "hr30": 2078923.0, "hr90": 5044861.0, "hr_prev90": 3118370.0, "hr_ann": 20459714.055555556, "holder_yield": 0.00020014286060303471, "quarters": 6, "fee_growth": 1.5837977987281147, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 4996.431034247131, "pe_median_1y": 5495.707391647917, "accel": 1.6177878186360182, "davis": "both", "unlock_12m": 0.0, "mechanism": true, "llama": [ "BSC", "Binance Alpha" ], "gecko_id": "binancecoin" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "BNB 是币安交易所与 BNB Chain 的通用代币：链上用户付 gas（部分实时销毁），交易所用户用它抵扣手续费/参与 Launchpool，另有季度 Auto-Burn 把总供应压向 1 亿。", "one_sentence_en": "BNB is the token of Binance exchange and BNB Chain: chain users pay gas (a share burned in real time), exchange users use it for fee discounts/Launchpool, and quarterly Auto-Burn drives supply toward 100M.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 6 }, { "base": "BOME", "products": { "spot": { "symbol": "BOMEUSDT", "stage": 2, "rank": 167, "close": 0.0010433 }, "futures": { "symbol": "BOMEUSDT", "stage": 2, "rank": 134, "close": 0.0010421 } }, "status": "red_line", "red_lines": [ "R4" ], "audit": null, "scores": { "A": 0, "B": 1.25, "C": 0.5, "D": 3, "E": 0 }, "total": 9.2, "capped": false, "no_revenue": true, "metrics": { "market_cap": 71667105, "fdv": 71667105, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": "book-of-meme" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "BOME 是 Pepe 画师 Darkfarms 于 2024-03 在 Solana 预售发行的 meme 币，叙事是用 Arweave/IPFS 永久存档 meme 文化；没有收入，没有人为它付钱。", "one_sentence_en": "BOME is a Solana meme coin presold in Mar 2024 by Pepe artist Darkfarms, with a narrative of archiving meme culture on Arweave/IPFS; it has no revenue and nobody pays for anything.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "BR", "products": { "futures": { "symbol": "BRUSDT", "stage": 2, "rank": 27, "close": 0.49565 } }, "status": "red_line", "red_lines": [ "R3" ], "audit": null, "scores": { "A": 2, "B": 3.5, "C": 1.0, "D": 0.0, "E": 0 }, "total": 15.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 151711497, "fdv": 511387070, "fdv_mc": 3.3707865264819055, "fees30": 59056.75999999999, "rev30": 6044.55, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 0.8176638316342718, "tvl_growth": null, "tvl_now": 383612244.1612634, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.38, "mechanism": false, "llama": [ "Bedrock uniBTC", "Bedrock uniETH", "Bedrock uniIOTX" ], "gecko_id": "bedrock-token" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Bedrock 是多资产流动性再质押协议（uniBTC/uniETH/uniIOTX），存款人把 BTC/ETH/IOTX 质押换取流动凭证，协议从质押收益抽成与 uniBTC 赎回费获利；BR 是治理代币，目前不承接收入。", "one_sentence_en": "Bedrock is a multi-asset liquid restaking protocol (uniBTC/uniETH/uniIOTX); depositors stake BTC/ETH/IOTX for liquid receipts, and the protocol earns a cut of staking rewards plus uniBTC redemption fees; BR is a governance token that currently receives no revenue.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [] }, { "base": "BROCCOLI714", "products": { "spot": { "symbol": "BROCCOLI714USDT", "stage": 2, "rank": 130, "close": 0.02398 }, "futures": { "symbol": "BROCCOLI714USDT", "stage": 2, "rank": 139, "close": 0.02398 } }, "status": "red_line", "red_lines": [ "R4" ], "audit": null, "scores": { "A": 0, "B": 1.0, "C": 0.5, "D": 1, "E": 0 }, "total": 4.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": null, "fdv": null, "fdv_mc": null, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": null }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "BROCCOLI714 是 2025-02-21 经 four.meme 在 BNB Chain 发行、以 CZ 的狗 Broccoli 命名的社区 meme 币，没有任何人为它付钱，价值完全来自投机与 BNB 生态吉祥物叙事。", "one_sentence_en": "BROCCOLI714 is a community meme coin launched 2025-02-21 via four.meme on BNB Chain, named after CZ's dog Broccoli; nobody pays for it, and its value rests entirely on speculation and the BNB-ecosystem mascot narrative.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "BTC", "products": { "spot": { "symbol": "BTCUSDT", "stage": 2, "rank": 1, "close": 83321.81 }, "futures": { "symbol": "BTCUSDT", "stage": 2, "rank": 1, "close": 83281.9 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 9.5, "C": 4.0, "D": 3, "E": 0 }, "total": 38.0, "capped": false, "no_revenue": true, "metrics": { "market_cap": 1659710599988, "fdv": 1659710599988, "fdv_mc": 1.0, "fees30": 7308230.0, "rev30": 0.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 1.0631628041726378, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [ "Bitcoin" ], "gecko_id": "bitcoin" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "比特币是去中心化的数字货币/价值存储网络，转账者为打包进区块支付手续费给矿工，持有者为获得不可没收、总量固定的货币属性而买入；代币本身不承载分红，收入归矿工。", "one_sentence_en": "Bitcoin is a decentralized monetary network: senders pay fees to miners for block inclusion, and holders buy it for a fixed-supply, censorship-resistant store of value; fees go to miners, not to a token treasury.", "confidence": "high", "_file": "2026-10-08.json" }, "notes": [], "rank": 27 }, { "base": "BULLA", "products": { "futures": { "symbol": "BULLAUSDT", "stage": 2, "rank": 94, "close": 0.08044 } }, "status": "unstable", "red_lines": [], "audit": { "file": "2026-10-08.json", "B_first": 2.5, "B_audit": 0.0, "C_first": 0.75, "C_audit": 0.5 }, "scores": { "A": 0, "B": 2.5, "C": 0.75, "D": 0.0, "E": 0 }, "total": 6.1, "capped": false, "no_revenue": true, "metrics": { "market_cap": 31797855, "fdv": 79934190, "fdv_mc": 2.513823338083654, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": null, "mechanism": null, "llama": [], "gecko_id": "bulla-3" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Bulla 是 Berachain 上基于 Algebra Integral 的集中流动性 DEX，交易者付手续费、75% 分给 LP、25% 归协议；BULLA 为其治理/质押代币。", "one_sentence_en": "Bulla is a concentrated-liquidity DEX on Berachain built on Algebra Integral; traders pay fees split 75% to LPs and 25% to the protocol, with BULLA as its governance/staking token.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）", "独立复评分差 > 阈值：待评" ] }, { "base": "CAKE", "products": { "spot": { "symbol": "CAKEUSDT", "stage": 2, "rank": 65, "close": 2.252 }, "futures": { "symbol": "CAKEUSDT", "stage": 2, "rank": 114, "close": 2.2498 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 10, "B": 7.0, "C": 3.5, "D": 6, "E": 5 }, "total": 71.3, "capped": false, "no_revenue": false, "metrics": { "market_cap": 712507278, "fdv": 738460865, "fdv_mc": 1.0364257149384515, "fees30": 19790196.240000006, "rev30": 6487746.97, "hr30": 4351766.02, "hr90": 10813014.91, "hr_prev90": 6586506.03, "hr_ann": 43852782.69055556, "holder_yield": 0.06154713649192445, "quarters": 12, "fee_growth": 1.6627120192393101, "tvl_growth": null, "tvl_now": 2249768975.7812963, "tvl_days": 0, "pe": 16.247709592975283, "pe_median_1y": 14.044333564958716, "accel": 1.6416920990809447, "davis": "accel", "unlock_12m": 0.0, "mechanism": true, "llama": [ "PancakeSwap AMM", "PancakeSwap AMM V3", "PancakeSwap Infinity", "PancakeSwap Lottery", "PancakeSwap Prediction", "PancakeSwap StableSwap" ], "gecko_id": "pancakeswap-token" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "PancakeSwap 是 BNB Chain 为主的多链 DEX（现货/永续/发射台/彩票/预测），交易者按笔付手续费，协议把 15~23% 现货手续费、20% 永续利润、100% CAKE.PAD 费用等拿去市场回购并销毁 CAKE。", "one_sentence_en": "PancakeSwap is a multi-chain DEX (spot, perps, launchpad, lottery, prediction) centred on BNB Chain; traders pay per-trade fees and the protocol routes 15-23% of spot fees, 20% of perp profits and 100% of CAKE.PAD fees into weekly market buy-and-burn of CAKE.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 1 }, { "base": "CELR", "products": { "spot": { "symbol": "CELRUSDT", "stage": 2, "rank": 161, "close": 0.003001 }, "futures": { "symbol": "CELRUSDT", "stage": 2, "rank": 125, "close": 0.002997 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 4.0, "C": 1.0, "D": 2, "E": 0 }, "total": 13.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 23219429, "fdv": 29326999, "fdv_mc": 1.2630370453984894, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": null, "mechanism": null, "llama": [], "gecko_id": "celer-network" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Celer 是跨链桥（cBridge）与跨链消息网络，桥接用户付 0-2% 协议费，xLiquidity 模式下 50% 费用分给 SGN 质押者（CELR）、50% 给 LP；但费用规模无公开可复算数据。", "one_sentence_en": "Celer runs cBridge and a cross-chain messaging network; bridge users pay 0-2% protocol fees, with 50% going to SGN CELR stakers and 50% to LPs under xLiquidity, but fee totals are not publicly reproducible.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 66 }, { "base": "COTI", "products": { "spot": { "symbol": "COTIUSDT", "stage": 2, "rank": 88, "close": 0.01321 }, "futures": { "symbol": "COTIUSDT", "stage": 2, "rank": 92, "close": 0.013187 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 2.5, "C": 1.0, "D": 3, "E": 0 }, "total": 12.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 39119641, "fdv": 39120115, "fdv_mc": 1.0000121166756106, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": null, "mechanism": null, "llama": [], "gecko_id": "coti" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "COTI 是基于 Garbled Circuits 做加密数据计算的隐私 L2/链，COTI 代币用于支付主网 gas，官网同时把它包装成可用于旅行预订、加密卡和 VPN 的'隐私支付币'；谁在真实付费、付了多少未找到任何数据。", "one_sentence_en": "COTI is a privacy L2/chain computing on encrypted data via Garbled Circuits; the COTI token pays mainnet gas and the site also markets it as a spendable privacy coin for travel/card/VPN, but no data on who actually pays or how much was found.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 73 }, { "base": "CRV", "products": { "spot": { "symbol": "CRVUSDT", "stage": 2, "rank": 94, "close": 0.3815 }, "futures": { "symbol": "CRVUSDT", "stage": 2, "rank": 73, "close": 0.3811 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 8, "B": 6.5, "C": 3.25, "D": 2.0, "E": 1 }, "total": 50.9, "capped": false, "no_revenue": false, "metrics": { "market_cap": 612008383, "fdv": 943548470, "fdv_mc": 1.541724747910847, "fees30": 3884060.5100000002, "rev30": 1734437.0, "hr30": 1672608.0, "hr90": 3716926.0, "hr_prev90": 4940690.0, "hr_ann": 15074199.888888888, "holder_yield": 0.024630708185722494, "quarters": 12, "fee_growth": 0.8960687939145852, "tvl_growth": null, "tvl_now": 1526893163.7731106, "tvl_days": 0, "pe": 40.59972585683357, "pe_median_1y": 12.883849196776985, "accel": 0.7523090904306888, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Curve DEX", "Curve LlamaLend", "Curve LlamaLend V2", "crvUSD" ], "gecko_id": "curve-dao-token" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Curve 是稳定币/同类资产 DEX，外加 crvUSD 稳定币与 LlamaLend 借贷；交易者付交换费、借款人付利息，其中一部分每周以 crvUSD 分给锁仓的 veCRV 持有人。", "one_sentence_en": "Curve is a stable/like-asset DEX plus the crvUSD stablecoin and LlamaLend; traders pay swap fees and borrowers pay interest, part of which is paid out weekly in crvUSD to locked veCRV holders.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 15 }, { "base": "DASH", "products": { "spot": { "symbol": "DASHUSDT", "stage": 2, "rank": 33, "close": 53.88 }, "futures": { "symbol": "DASHUSDT", "stage": 2, "rank": 41, "close": 53.85 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 4.0, "C": 1.0, "D": 3, "E": 0 }, "total": 15.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 686559198, "fdv": 686576538, "fdv_mc": 1.000025256380004, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [], "gecko_id": "dash" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Dash 是 2014 年起的支付型 PoW 链加主节点网络，用户付转账手续费给矿工/主节点，约 10% 区块奖励进入由主节点投票的国库；2026 年 Evolution 平台链上线并加入屏蔽交易，试图从纯支付转向应用平台。", "one_sentence_en": "Dash is a 2014-era payments PoW chain with a masternode network; users pay transfer fees to miners/masternodes and ~10% of block rewards fund a masternode-voted treasury; in 2026 the Evolution platform chain went live with shielded transactions, pivoting from pure payments to an app platform.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 60 }, { "base": "DODO", "products": { "spot": { "symbol": "DODOUSDT", "stage": 2, "rank": 160, "close": 0.01804 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 6, "B": 4.0, "C": 1.75, "D": 5, "E": 1 }, "total": 42.6, "capped": false, "no_revenue": false, "metrics": { "market_cap": 18028504, "fdv": 18028504, "fdv_mc": 1.0, "fees30": 237371.0, "rev30": 47456.0, "hr30": 0.0, "hr90": 69175.0, "hr_prev90": 89444.0, "hr_ann": 280543.05555555556, "holder_yield": 0.015561083468465024, "quarters": 2, "fee_growth": 0.8084781885309544, "tvl_growth": null, "tvl_now": 12580796.175302327, "tvl_days": 0, "pe": 64.2628774549361, "pe_median_1y": 45.06133253537551, "accel": 0.7733889360940924, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [ "DODO AMM" ], "gecko_id": "dodo" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "DODO 是多链 PMM（主动做市）算法 DEX 与聚合器，交易者支付 swap 手续费，其中 20% 归协议国库；但 30 日总手续费仅 $23.8 万，生意规模很小。", "one_sentence_en": "DODO is a multi-chain PMM (proactive market maker) DEX and aggregator; traders pay swap fees of which 20% goes to the protocol treasury, but 30-day fees are only ~$238k.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [ "机制执行情况未核" ], "rank": 23 }, { "base": "DOGE", "products": { "spot": { "symbol": "DOGEUSDT", "stage": 1, "rank": 9, "close": 0.08904 }, "futures": { "symbol": "DOGEUSDT", "stage": 1, "rank": 8, "close": 0.08899 } }, "status": "red_line", "red_lines": [ "R4" ], "audit": null, "scores": { "A": 0, "B": 5.0, "C": 1.25, "D": 3, "E": 0 }, "total": 17.9, "capped": false, "no_revenue": true, "metrics": { "market_cap": 13660081500, "fdv": 13660084997, "fdv_mc": 1.000000256001401, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": "dogecoin" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Dogecoin 是 2013 年起的 PoW 支付型 meme 币：用户付转账手续费、矿工每块领 10,000 DOGE（年增≈50 亿、无上限）；没有协议收入，也没有任何现金流回到持币人。", "one_sentence_en": "Dogecoin is a PoW payment memecoin since 2013: users pay transfer fees, miners get 10,000 DOGE per block (~5B/yr, uncapped); there is no protocol revenue and nothing flows back to holders.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "EIGEN", "products": { "spot": { "symbol": "EIGENUSDT", "stage": 2, "rank": 103, "close": 0.2382 }, "futures": { "symbol": "EIGENUSDT", "stage": 2, "rank": 126, "close": 0.2379 } }, "status": "red_line", "red_lines": [ "R3" ], "audit": null, "scores": { "A": 2, "B": 4.5, "C": 2.0, "D": 1, "E": 0 }, "total": 21.0, "capped": false, "no_revenue": true, "metrics": { "market_cap": 230126292, "fdv": 439238838, "fdv_mc": 1.9086860270620447, "fees30": 167135.0, "rev30": 0.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 0.33549186172492595, "tvl_growth": null, "tvl_now": 6716769612.298887, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.49, "mechanism": false, "llama": [ "EigenCloud" ], "gecko_id": "eigenlayer" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "EigenCloud（原 EigenLayer）是以太坊再质押平台，AVS/应用方付费租用再质押的 ETH/EIGEN 安全性与 EigenDA/EigenCompute 云服务，运营者与质押者分得报酬；目前对 AVS 的 EIGEN 激励排放（~$57M/年）远大于实际费用（~$12M/年），回购仍是提案阶段。", "one_sentence_en": "EigenCloud (formerly EigenLayer) is Ethereum's restaking platform; AVSs and apps pay to rent restaked ETH/EIGEN security and EigenDA/EigenCompute cloud services, operators and stakers earn the rewards; EIGEN incentive emissions (~$57M/yr) still dwarf fees (~$12M/yr) and buybacks remain a proposal.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [] }, { "base": "ENA", "products": { "spot": { "symbol": "ENAUSDT", "stage": 2, "rank": 11, "close": 0.2264 }, "futures": { "symbol": "ENAUSDT", "stage": 2, "rank": 14, "close": 0.22634 } }, "status": "ok", "red_lines": [], "audit": { "file": "2026-10-08.json", "B_first": 5.5, "B_audit": 5.0, "C_first": 1.0, "C_audit": 1.5 }, "scores": { "A": 2, "B": 5.5, "C": 1.5, "D": 2, "E": 0 }, "total": 24.2, "capped": false, "no_revenue": true, "metrics": { "market_cap": 2930441860, "fdv": 3278816067, "fdv_mc": 1.1188811188357786, "fees30": 18380159.22, "rev30": 17822.940000000002, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 1.043921952866633, "tvl_growth": null, "tvl_now": 4891571352.588168, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.16, "mechanism": false, "llama": [ "Ethena USDe" ], "gecko_id": "ethena" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Ethena 发行合成美元 USDe（现货+空头永续的基差套利），收益主要付给 sUSDe 持有人；ENA 是治理币，已投票通过在 USDe 供应达 $75 亿后把 95% 净收入用于回购 ENA，目前尚未触发。", "one_sentence_en": "Ethena issues the synthetic dollar USDe (spot + short-perp basis trade); yield goes mainly to sUSDe holders. ENA is the governance token; a passed vote routes 95% of net revenue to ENA buybacks once USDe supply reaches $7.5B, which has not yet happened.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 42 }, { "base": "ENJ", "products": { "spot": { "symbol": "ENJUSDT", "stage": 2, "rank": 175, "close": 0.03069 }, "futures": { "symbol": "ENJUSDT", "stage": 2, "rank": 172, "close": 0.03065 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 3.5, "C": 1.1, "D": 3, "E": 0 }, "total": 14.7, "capped": false, "no_revenue": true, "metrics": { "market_cap": 60357890, "fdv": 61023851, "fdv_mc": 1.0110335367919587, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [], "gecko_id": "enjincoin" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Enjin 是面向游戏/NFT 的 Substrate 公链（2023-09 上线），游戏开发者用 ENJ 付交易费并在铸造 NFT 时锁入 ENJ，质押者靠约 4.9% 年通胀获酬；链上仅约 5.8 万账户、3.2 万持有人，付费规模未找到。", "one_sentence_en": "Enjin is a Substrate-based L1 for games/NFTs (mainnet Sep 2023); game developers pay ENJ for transactions and lock ENJ into minted NFTs, stakers earn ~4.9% annual inflation; the chain has only ~58K accounts and ~32K holders and no fee revenue figures were found.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 63 }, { "base": "ENS", "products": { "spot": { "symbol": "ENSUSDT", "stage": 2, "rank": 186, "close": 6.48 }, "futures": { "symbol": "ENSUSDT", "stage": 2, "rank": 177, "close": 6.479 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 6.0, "C": 1.75, "D": 1, "E": 0 }, "total": 23.6, "capped": false, "no_revenue": true, "metrics": { "market_cap": 279684654, "fdv": 661709041, "fdv_mc": 2.3659111486324167, "fees30": 235614.0, "rev30": 235614.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 0.9069121281854599, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.02, "mechanism": false, "llama": [ "ENS" ], "gecko_id": "ethereum-name-service" }, "review": { "review_date": "2026-10-08", "model_id": "claude-opus-5-5", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "ENS 是以太坊上的域名系统（.eth 名称），用户按年付注册/续费费用换取可读的链上身份，费用进入 DAO 国库/Endowment，ENS 代币只承载治理权、不分配收入。", "one_sentence_en": "ENS is Ethereum's naming system (.eth names): users pay annual registration/renewal fees for a human-readable onchain identity; fees go to the DAO treasury/Endowment, and the ENS token carries governance rights only, with no revenue distribution.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 44 }, { "base": "EPIC", "products": { "spot": { "symbol": "EPICUSDT", "stage": 2, "rank": 183, "close": 0.4792 }, "futures": { "symbol": "EPICUSDT", "stage": 2, "rank": 195, "close": 0.4792 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 1.75, "C": 0.5, "D": 1, "E": 0 }, "total": 6.2, "capped": false, "no_revenue": true, "metrics": { "market_cap": null, "fdv": null, "fdv_mc": null, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": null }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Epic Chain（前 Ethernity）是 OP Stack L2 + 加密旅行预订平台，用户用加密货币订酒店机票拿 XRP 返现；预订收入无法从链上核实。", "one_sentence_en": "Epic Chain (formerly Ethernity) is an OP-Stack L2 plus crypto travel-booking platform where users book hotels/flights with crypto for XRP cashback; booking revenue cannot be verified on-chain.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 92 }, { "base": "ETC", "products": { "spot": { "symbol": "ETCUSDT", "stage": 1, "rank": 86, "close": 8.48 }, "futures": { "symbol": "ETCUSDT", "stage": 1, "rank": 61, "close": 8.479 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 3.0, "C": 0.5, "D": 3, "E": 0 }, "total": 12.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 1326259369, "fdv": 1326465338, "fdv_mc": 1.000155300693676, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [], "gecko_id": "ethereum-classic" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Ethereum Classic 是 2016 年分叉保留的原链 PoW 智能合约平台，用户为交易支付 ETC gas 给矿工，矿工靠区块奖励（每 500 万块减 20%）维持；代币无治理权，收入不回流持币人。", "one_sentence_en": "Ethereum Classic is the original PoW Ethereum chain kept after the 2016 fork; users pay ETC gas to miners who are paid mainly by block rewards (cut 20% every 5M blocks); the token carries no governance and no revenue flows to holders.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 71 }, { "base": "ETH", "products": { "spot": { "symbol": "ETHUSDT", "stage": 2, "rank": 2, "close": 2574.14 }, "futures": { "symbol": "ETHUSDT", "stage": 2, "rank": 2, "close": 2572.88 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 9.0, "C": 4.25, "D": 5, "E": 1 }, "total": 49.4, "capped": false, "no_revenue": false, "metrics": { "market_cap": 312743345076, "fdv": 312743345076, "fdv_mc": 1.0, "fees30": 17696812.0, "rev30": 6035557.0, "hr30": 6035557.0, "hr90": 10472489.0, "hr_prev90": 16917754.0, "hr_ann": 42471760.94444445, "holder_yield": 0.00013580388396153834, "quarters": 12, "fee_growth": 0.7108865219904825, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 7363.559648140952, "pe_median_1y": 5394.886360595729, "accel": 0.6190236008869735, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Ethereum" ], "gecko_id": "ethereum" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "以太坊是最大的通用智能合约结算层，用户与 L2 为区块空间付 gas，基础费销毁、小费与增发给质押者。", "one_sentence_en": "Ethereum is the largest general-purpose smart-contract settlement layer; users and L2s pay gas for blockspace, with base fees burned and tips plus issuance going to stakers.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 17 }, { "base": "ETHFI", "products": { "spot": { "symbol": "ETHFIUSDT", "stage": 2, "rank": 67, "close": 0.7222 }, "futures": { "symbol": "ETHFIUSDT", "stage": 2, "rank": 65, "close": 0.7216 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 4.5, "C": 3.0, "D": 3, "E": 0 }, "total": 26.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 687743067, "fdv": 687743067, "fdv_mc": 1.0, "fees30": 12705846.0, "rev30": 3800528.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 0.9532562024003637, "tvl_growth": null, "tvl_now": 5883235981.39397, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.055, "mechanism": false, "llama": [ "EtherFi Borrowing Market", "EtherFi Cash Liquid", "ether.fi Liquid", "ether.fi Stake" ], "gecko_id": "ether-fi" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "ether.fi 是流动性再质押 + 资管 + 加密卡的'链上新银行'：ETH 存款人（eETH/weETH）、Liquid 金库用户和 Cash 卡用户支付质押/再质押抽成、金库管理费与卡交换费，ETHFI 是治理代币，历史上部分收入用于回购 ETHFI 分给 sETHFI 质押者。", "one_sentence_en": "ether.fi is a liquid restaking + vault + crypto card 'onchain neobank': eETH/weETH depositors, Liquid vault users and Cash card users pay restaking take-rate, vault fees and card interchange; ETHFI governs, and historically part of revenue bought back ETHFI for sETHFI stakers.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 40 }, { "base": "EVAA", "products": { "futures": { "symbol": "EVAAUSDT", "stage": 2, "rank": 179, "close": 0.7096 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 3.5, "C": 1.5, "D": 1, "E": 0 }, "total": 11.2, "capped": false, "no_revenue": true, "metrics": { "market_cap": null, "fdv": null, "fdv_mc": null, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": null, "mechanism": null, "llama": [], "gecko_id": null }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "EVAA 是 TON 上首个借贷协议（Telegram 小程序入口，TVL 约 $8.4M），借款人付利息；EVAA 代币为治理/实用代币，但收入分配、解锁与付费规模均无可核实数据。", "one_sentence_en": "EVAA is the first lending protocol on TON (Telegram mini-app, TVL ~$8.4M) where borrowers pay interest; the EVAA token is a governance/utility token, but revenue flow, unlocks and fee scale are all unverifiable.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 78 }, { "base": "FARTCOIN", "products": { "futures": { "symbol": "FARTCOINUSDT", "stage": 1, "rank": 78, "close": 0.1607 } }, "status": "red_line", "red_lines": [ "R4", "R5" ], "audit": null, "scores": { "A": 0, "B": 1.5, "C": 1.0, "D": 3, "E": 0 }, "total": 10.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 159825604, "fdv": 159825604, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": "fartcoin" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Fartcoin 是 2024-10 由 AI 聊天机器人 Truth Terminal 提议、社区在 Pump.fun 上发行的 Solana meme 币，无产品、无收入、无人为任何服务付钱，价值完全来自注意力与投机。", "one_sentence_en": "Fartcoin is a Solana meme coin launched on Pump.fun in Oct 2024 after being suggested by the AI chatbot Truth Terminal; it has no product, no revenue and no paying customers, with value coming solely from attention and speculation.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "FET", "products": { "spot": { "symbol": "FETUSDT", "stage": 2, "rank": 31, "close": 0.2299 }, "futures": { "symbol": "FETUSDT", "stage": 2, "rank": 52, "close": 0.2297 } }, "status": "ok", "red_lines": [], "audit": { "file": "2026-10-08.json", "B_first": 2.5, "B_audit": 2.5, "C_first": 1.25, "C_audit": 1.5 }, "scores": { "A": 0, "B": 2.5, "C": 1.25, "D": 2, "E": 0 }, "total": 10.9, "capped": false, "no_revenue": true, "metrics": { "market_cap": 527260256, "fdv": 619157214, "fdv_mc": 1.174291456551582, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.01, "mechanism": null, "llama": [], "gecko_id": "fetch-ai" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "FET 是 ASI 联盟（Fetch.ai+SingularityNET+CUDOS）的统一代币，用于 AI agent 平台的质押、支付与网络安全；谁为什么付费缺乏可核数据。", "one_sentence_en": "FET is the unified token of the ASI Alliance (Fetch.ai, SingularityNET, CUDOS) used for staking, payments and security on an AI-agent platform; who pays and why lacks verifiable data.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 80 }, { "base": "FF", "products": { "spot": { "symbol": "FFUSDT", "stage": 2, "rank": 107, "close": 0.11008 }, "futures": { "symbol": "FFUSDT", "stage": 2, "rank": 113, "close": 0.11 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 3.5, "C": 1.25, "D": 0.0, "E": 0 }, "total": 15.9, "capped": false, "no_revenue": true, "metrics": { "market_cap": 355755736, "fdv": 1064163398, "fdv_mc": 2.9912754463641313, "fees30": 249465.0, "rev30": 0.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 0.7530543487983135, "tvl_growth": null, "tvl_now": 1654746868.8636608, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.245, "mechanism": false, "llama": [ "Falcon Finance" ], "gecko_id": "falcon-finance-ff" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Falcon Finance 是'通用抵押'合成美元协议：用户存入 BTC/ETH/山寨币/RWA 铸造超额抵押的 USDf 并质押成生息的 sUSDf，协议靠抵押品的 delta 中性/基差收益赚取利差；FF 是治理与折扣/加成代币，目前没有向 FF 持币人分配收入。", "one_sentence_en": "Falcon Finance is a 'universal collateral' synthetic-dollar protocol: users deposit BTC/ETH/alts/RWAs to mint overcollateralized USDf and stake it into yield-bearing sUSDf, with the protocol earning spread from delta-neutral/basis strategies; FF is a governance and discount/boost token with no revenue currently distributed to FF holders.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [], "rank": 57 }, { "base": "FLOCK", "products": { "futures": { "symbol": "FLOCKUSDT", "stage": 2, "rank": 82, "close": 0.06001 } }, "status": "red_line", "red_lines": [ "R1", "R3" ], "audit": null, "scores": { "A": 2, "B": 2.0, "C": 0.5, "D": 1, "E": 0 }, "total": 13.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 28430073, "fdv": 58754498, "fdv_mc": 2.066631978046627, "fees30": 227.11, "rev30": 227.11, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 0.136342579963837, "tvl_growth": null, "tvl_now": 0.0, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.35, "mechanism": false, "llama": [ "FLock.io" ], "gecko_id": "flock-2" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "FLock.io 是去中心化 AI 模型训练/验证网络（AI Arena 质押+FOMO 发射台），理论上由任务发起方和发射台交易者付费，但 30 天链上费用仅 $247，几乎没人付钱。", "one_sentence_en": "FLock.io is a decentralized AI model training/validation network (AI Arena staking plus a FOMO launchpad); task creators and launchpad traders are supposed to pay, but onchain fees were only $247 in 30 days.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [] }, { "base": "FLOKI", "products": { "spot": { "symbol": "FLOKIUSDT", "stage": 1, "rank": 133, "close": 2.741e-05 }, "futures": { "symbol": "1000FLOKIUSDT", "stage": 1, "rank": 176, "close": 0.02738 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 3.0, "C": 1.0, "D": 3, "E": 0 }, "total": 13.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 261807036, "fdv": 261807036, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": "floki" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "FLOKI 是 ETH/BSC 双链的社区 meme 币，外挂 Valhalla 游戏、FlokiFi 锁仓器、交易机器人、借记卡等产品，产品用户付的服务费有一部分（如锁仓费 25%、机器人费 50%）用于回购销毁 FLOKI，DEX 买卖另收 0.3% 税进国库。", "one_sentence_en": "FLOKI is a community memecoin on ETH/BSC with bolt-on products (Valhalla game, FlokiFi Locker, trading bot, debit card); part of product fees (25% of locker fees, 50% of bot fees) buys back and burns FLOKI, and a 0.3% DEX tax funds the treasury.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 67 }, { "base": "FORM", "products": { "spot": { "symbol": "FORMUSDT", "stage": 2, "rank": 105, "close": 0.2642 }, "futures": { "symbol": "FORMUSDT", "stage": 2, "rank": 109, "close": 0.264 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 2.0, "C": 1.0, "D": 2, "E": 0 }, "total": 9.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 99937242, "fdv": 149775282, "fdv_mc": 1.4986933699851352, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": null, "mechanism": null, "llama": [], "gecko_id": "four" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "FORM 是 BinaryX 2025-03 一比一更名而来的 Four 生态平台币（治理/质押/发射参与权），生态核心是 BNB Chain 上的 meme 发射台 Four.meme，meme 发行者与交易者支付创建费与交易手续费；但平台收入是否流向 FORM、流多少，我未找到可核实证据。", "one_sentence_en": "FORM is the platform token (governance/staking/launch access) of Four, rebranded 1:1 from BinaryX in Mar 2025; the core business is the BNB Chain meme launchpad Four.meme where creators and traders pay creation and trading fees — but whether and how much of that revenue flows to FORM could not be verified.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 86 }, { "base": "G", "products": { "spot": { "symbol": "GUSDT", "stage": 2, "rank": 69, "close": 0.0044 }, "futures": { "symbol": "GUSDT", "stage": 2, "rank": 51, "close": 0.004392 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 3.0, "C": 1.0, "D": 1, "E": 0 }, "total": 9.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 31539036, "fdv": 52327406, "fdv_mc": 1.6591314331864804, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.028, "mechanism": true, "llama": [], "gecko_id": "g-token" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "G 是 Galxe 团队自建 L1 Gravity 的 gas 与治理代币，并作为 Galxe 任务/Passport 等应用的支付代币；但链上 30 日 gas 费仅 $112，实际几乎没有人在为这条链付费。", "one_sentence_en": "G is the gas and governance token of Gravity, an L1 built by Galxe, and the fee token across Galxe apps; but with only $112 of 30-day gas fees, almost nobody is actually paying to use the chain.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 87 }, { "base": "GIGGLE", "products": { "spot": { "symbol": "GIGGLEUSDT", "stage": 2, "rank": 126, "close": 36.0 }, "futures": { "symbol": "GIGGLEUSDT", "stage": 2, "rank": 149, "close": 36.0 } }, "status": "red_line", "red_lines": [ "R4" ], "audit": null, "scores": { "A": 0, "B": 0.75, "C": 0.5, "D": 3, "E": 0 }, "total": 8.3, "capped": false, "no_revenue": true, "metrics": { "market_cap": 35373951, "fdv": 35373951, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": "giggle-fund" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "GIGGLE 是 BNB 链社区发起的慈善 meme 币，每笔交易抽 5% 捐给 Giggle Academy；没有产品、没有客户付费，买家只是在投机。", "one_sentence_en": "GIGGLE is a community-launched charity meme coin on BNB Chain that donates 5% of every trade to Giggle Academy; there is no product and no paying customer, only speculative buyers.", "confidence": "high", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "GRASS", "products": { "futures": { "symbol": "GRASSUSDT", "stage": 2, "rank": 97, "close": 0.6571 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 4.5, "C": 1.5, "D": 2, "E": 0 }, "total": 15.2, "capped": false, "no_revenue": true, "metrics": { "market_cap": 450373639, "fdv": 643857871, "fdv_mc": 1.4296082524492513, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.21, "mechanism": false, "llama": [], "gecko_id": "grass" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "DePIN 带宽/网页数据网络：AI 公司向 Grass DataCo 付 USDC 买网页数据，用户出闲置带宽拿奖励；GRASS 是治理/质押/激励代币，收入目前不流向持币人。", "one_sentence_en": "DePIN bandwidth/web-data network: AI companies pay Grass DataCo in USDC for web data while users contribute idle bandwidth for rewards; GRASS is a governance/staking/incentive token and revenue currently does not flow to holders.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 62 }, { "base": "GRIFFAIN", "products": { "futures": { "symbol": "GRIFFAINUSDT", "stage": 2, "rank": 158, "close": 0.01667 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 1.0, "C": 1.0, "D": 1, "E": 0 }, "total": 5.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": null, "fdv": null, "fdv_mc": null, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": null }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Griffain 是 Solana 上的自然语言 AI 代理应用（2024 年 Solana AI 黑客松项目），用户用‘Energy’付费让代理执行换币、查链上数据等任务；GRIFFAIN 代币号称用于治理/激励/手续费折扣，但未找到收入、回购或 Energy 与代币挂钩的证据，市值已从 2025-01 的 ~$5 亿跌到 $1,700 万。", "one_sentence_en": "Griffain is a natural-language AI-agent app on Solana (born at a 2024 Solana AI hackathon) where users pay 'Energy' for agents to swap tokens or query on-chain data; the GRIFFAIN token is said to serve governance/incentives/fee discounts, but no evidence of revenue, buybacks or an Energy-to-token link was found, and market cap has fallen from ~$500M (Jan 2025) to $17M.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 95 }, { "base": "GTC", "products": { "spot": { "symbol": "GTCUSDT", "stage": 2, "rank": 110, "close": 0.19064 }, "futures": { "symbol": "GTCUSDT", "stage": 2, "rank": 64, "close": 0.18991 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 3.0, "C": 1.5, "D": 1, "E": 0 }, "total": 10.3, "capped": false, "no_revenue": true, "metrics": { "market_cap": null, "fdv": null, "fdv_mc": null, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [], "gecko_id": null }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Gitcoin 是用二次方资助为开源/公共物品发钱的 DAO，钱来自捐赠者与配捐赞助方；GTC 只是治理币（投票决定资助机制与国库），没有任何收入流向持币人。", "one_sentence_en": "Gitcoin is a DAO that funds open-source public goods via quadratic funding paid by donors and matching sponsors; GTC is purely a governance token (votes on grant mechanisms and treasury) with no revenue to holders.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 83 }, { "base": "HEI", "products": { "spot": { "symbol": "HEIUSDT", "stage": 2, "rank": 137, "close": 0.1299 }, "futures": { "symbol": "HEIUSDT", "stage": 2, "rank": 188, "close": 0.1301 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 1.5, "C": 0.5, "D": 1, "E": 0 }, "total": 5.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": null, "fdv": null, "fdv_mc": null, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.015, "mechanism": null, "llama": [], "gecko_id": null }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "由 Litentry 转型的链抽象项目（Omni Account 统一跨链账户 + 意图执行器 + AI agent 工具）；设计上用户可不持 HEI、费用可被代付，没有可核实的收入或付费方。", "one_sentence_en": "Chain-abstraction project pivoted from Litentry (Omni Account unified cross-chain account, intent executor, AI-agent tools); by design users need not hold HEI and fees can be sponsored, with no verifiable revenue or paying customer.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 93 }, { "base": "HOLO", "products": { "spot": { "symbol": "HOLOUSDT", "stage": 1, "rank": 50, "close": 0.0623 } }, "status": "red_line", "red_lines": [ "R1", "R3" ], "audit": null, "scores": { "A": 2, "B": 3.0, "C": 1.5, "D": 0.0, "E": 0 }, "total": 15.2, "capped": false, "no_revenue": true, "metrics": { "market_cap": 48186895, "fdv": 125431397, "fdv_mc": 2.603018870587117, "fees30": 0.07, "rev30": 0.05, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.42, "mechanism": null, "llama": [ "Holoworld AI" ], "gecko_id": "holoworld" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Holoworld 是 AI 角色/视频创作与代币发射平台（Ava Studio、HoloLaunch），创作者为生成内容付费、项目方为发射付费，但收入未证实流回 HOLO。", "one_sentence_en": "Holoworld is an AI character/video creation and token-launch platform (Ava Studio, HoloLaunch); creators pay for generated content and projects pay to launch, but no revenue is shown to flow back to HOLO.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [] }, { "base": "HUMA", "products": { "spot": { "symbol": "HUMAUSDT", "stage": 2, "rank": 194, "close": 0.03027 }, "futures": { "symbol": "HUMAUSDT", "stage": 2, "rank": 194, "close": 0.030262 } }, "status": "red_line", "red_lines": [ "R3" ], "audit": null, "scores": { "A": 2, "B": 5.0, "C": 3.0, "D": 0.0, "E": 0 }, "total": 21.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 52005960, "fdv": 300034386, "fdv_mc": 5.769230795854937, "fees30": 2697192.0, "rev30": 0.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 1.6828784707806237, "tvl_growth": null, "tvl_now": 412297584.61204886, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.35, "mechanism": false, "llama": [ "Huma" ], "gecko_id": "huma-finance" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "PayFi 网络：跨境汇款/支付机构（如 Arf、Rain）借用链上稳定币流动性做 T+0 结算并按天付费，LP 拿这笔费用做收益；HUMA 是其治理与激励代币。", "one_sentence_en": "PayFi network: remittance and payment firms (e.g. Arf, Rain) borrow on-chain stablecoin liquidity for T+0 settlement and pay daily fees that flow to LPs; HUMA is the governance and incentive token.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [] }, { "base": "HYPE", "products": { "futures": { "symbol": "HYPEUSDT", "stage": 2, "rank": 6, "close": 88.488 } }, "status": "red_line", "red_lines": [ "R3" ], "audit": null, "scores": { "A": 8, "B": 7.0, "C": 3.0, "D": 2.0, "E": 1 }, "total": 51.5, "capped": false, "no_revenue": false, "metrics": { "market_cap": 19350922948, "fdv": 83103753033, "fdv_mc": 4.294562758392313, "fees30": 90550220.0, "rev30": 73413287.0, "hr30": 73413287.0, "hr90": 176129965.0, "hr_prev90": 146948313.0, "hr_ann": 714304858.0555556, "holder_yield": 0.03691321907358336, "quarters": 8, "fee_growth": 1.1265751729969362, "tvl_growth": null, "tvl_now": 347055903.7108301, "tvl_days": 0, "pe": 27.09056606541372, "pe_median_1y": 14.725087065873119, "accel": 1.1985844641850363, "davis": "none", "unlock_12m": 0.36, "mechanism": true, "llama": [ "Hyperliquid HLP", "Hyperliquid Perps", "Hyperliquid Spot Orderbook" ], "gecko_id": "hyperliquid" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Hyperliquid 是一条自带链上订单簿的永续合约/现货交易所 L1，交易者为撮合与杠杆付手续费，约 97% 的手续费由系统地址自动换成 HYPE 并销毁。", "one_sentence_en": "Hyperliquid is an L1 running an on-chain order-book perps/spot exchange; traders pay fees for matching and leverage, and ~97% of fees are auto-converted to HYPE and burned via the Assistance Fund.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [] }, { "base": "ICP", "products": { "spot": { "symbol": "ICPUSDT", "stage": 2, "rank": 60, "close": 3.242 }, "futures": { "symbol": "ICPUSDT", "stage": 2, "rank": 72, "close": 3.238 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 4.5, "C": 2.25, "D": 5, "E": 1 }, "total": 37.4, "capped": false, "no_revenue": false, "metrics": { "market_cap": 1776278265, "fdv": 1776278265, "fdv_mc": 1.0, "fees30": 190886.0, "rev30": 190886.0, "hr30": 190886.0, "hr90": 398001.0, "hr_prev90": 443376.0, "hr_ann": 1614115.1666666667, "holder_yield": 0.000908706253108753, "quarters": 12, "fee_growth": 1.1013924627425753, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 1100.4656307568305, "pe_median_1y": 659.4453927705839, "accel": 0.8976602251813359, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "ICP" ], "gecko_id": "internet-computer" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Internet Computer 是链上云计算网络，开发者把 ICP 换成 cycles 付算力/存储（ICP 被销毁），节点商与 NNS 质押者获得增发；目前增发远大于销毁。", "one_sentence_en": "Internet Computer is an on-chain cloud network; developers convert ICP into cycles (burning ICP) to pay for compute/storage, while node providers and NNS stakers receive issuance that currently far exceeds the burn.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [], "rank": 28 }, { "base": "INJ", "products": { "spot": { "symbol": "INJUSDT", "stage": 2, "rank": 39, "close": 7.465 }, "futures": { "symbol": "INJUSDT", "stage": 2, "rank": 46, "close": 7.46 } }, "status": "ok", "red_lines": [], "audit": { "file": "2026-10-08.json", "B_first": 5.0, "B_audit": 5.5, "C_first": 1.0, "C_audit": 3.0 }, "scores": { "A": 4, "B": 5.0, "C": 1.5, "D": 4.0, "E": 1 }, "total": 35.2, "capped": false, "no_revenue": false, "metrics": { "market_cap": 736512652, "fdv": 736512652, "fdv_mc": 1.0, "fees30": 225694.0, "rev30": 225694.0, "hr30": 225694.0, "hr90": 690157.0, "hr_prev90": 845242.0, "hr_ann": 2798970.0555555555, "holder_yield": 0.0038003013905531053, "quarters": 12, "fee_growth": 0.8165200025554812, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 263.1370244701717, "pe_median_1y": 108.52145461238703, "accel": 0.8165200025554812, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Injective" ], "gecko_id": "injective-protocol" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Injective 是一条面向金融应用的 L1，链上 dApp（交易所等）的用户付手续费，部分生态收入每月通过 Community BuyBack 分给承诺并销毁 INJ 的持币人。", "one_sentence_en": "Injective is a finance-focused L1; users of on-chain dApps pay fees, and a share of ecosystem revenue is distributed monthly via the Community BuyBack to holders who commit INJ that is then burned.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 30 }, { "base": "IO", "products": { "spot": { "symbol": "IOUSDT", "stage": 2, "rank": 171, "close": 0.1577 } }, "status": "ok", "red_lines": [], "audit": { "file": "2026-10-08.json", "B_first": 3.5, "B_audit": 3.0, "C_first": 1.0, "C_audit": 1.0 }, "scores": { "A": 0, "B": 3.5, "C": 1.0, "D": 1, "E": 0 }, "total": 10.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 66109332, "fdv": 128529249, "fdv_mc": 1.9441922208501516, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.22, "mechanism": null, "llama": [], "gecko_id": "io" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "io.net 是去中心化 GPU 算力市场，AI/ML 客户租用分布式 GPU 集群付费，GPU 供应方以 IO 领奖励；2026-06 上线的 Incentive Dynamic Engine 声称按网络收益程序化销毁/回购 IO（承诺 12 个月至少销毁 1,200 万枚），但未找到链上记录。", "one_sentence_en": "io.net is a decentralized GPU compute marketplace where AI/ML customers pay to rent distributed GPU clusters and suppliers earn IO; the Incentive Dynamic Engine launched June 2026 claims to burn/buy back IO from network earnings (min. 12M IO over 12 months), but no on-chain record was found.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 81 }, { "base": "JST", "products": { "spot": { "symbol": "JSTUSDT", "stage": 2, "rank": 109, "close": 0.14189 } }, "status": "red_line", "red_lines": [ "R2" ], "audit": null, "scores": { "A": 2, "B": 4.0, "C": 1.5, "D": 3, "E": 0 }, "total": 23.2, "capped": false, "no_revenue": true, "metrics": { "market_cap": 1118132614, "fdv": 1118132614, "fdv_mc": 1.0, "fees30": 1541790.0, "rev30": 47725.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 1.263243774979418, "tvl_growth": null, "tvl_now": 3819992583.3160806, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "JustLend V1" ], "gecko_id": "just" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "TRON 上最大借贷协议 JustLend 及 USDJ/USDD 稳定币套件的治理代币；借款人付利息、能量租赁用户付租金，因为它是 TRON 上几乎唯一成规模的借贷场所。", "one_sentence_en": "Governance token of JustLend, TRON's largest lending protocol, and the USDJ/USDD stablecoin suite; borrowers pay interest and energy renters pay fees because it is nearly the only lending venue of scale on TRON.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [] }, { "base": "JTO", "products": { "spot": { "symbol": "JTOUSDT", "stage": 2, "rank": 120, "close": 0.5473 }, "futures": { "symbol": "JTOUSDT", "stage": 2, "rank": 105, "close": 0.5465 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 7.5, "C": 2.6, "D": 1, "E": 0 }, "total": 27.9, "capped": false, "no_revenue": true, "metrics": { "market_cap": 298010635, "fdv": 562196995, "fdv_mc": 1.8864997720635037, "fees30": 11036423.0, "rev30": 665180.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 1.1954712830897323, "tvl_growth": null, "tvl_now": 1212579269.4648292, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.064, "mechanism": true, "llama": [ "Jito DAO", "Jito Liquid Staking", "Jito MEV Tips" ], "gecko_id": "jito-governance-token" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Jito 是 Solana 最大的流动性质押（JitoSOL）与 MEV 基础设施（Block Engine/BAM/Tip Router）提供者，并新增现货交易平台 JTX；质押者付佣金、搜索者/验证者付 MEV 小费、交易者付手续费，收入归 DAO，其中 JTX 的 DAO 份额 100% 用于回购销毁 JTO。", "one_sentence_en": "Jito runs Solana's largest liquid staking (JitoSOL) and MEV infrastructure (Block Engine/BAM/Tip Router) plus the JTX spot venue; stakers pay commission, searchers pay MEV tips, traders pay fees, all flowing to the DAO, with the DAO's JTX share committed 100% to JTO buyback-and-burn.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 39 }, { "base": "JUP", "products": { "spot": { "symbol": "JUPUSDT", "stage": 2, "rank": 81, "close": 0.359 }, "futures": { "symbol": "JUPUSDT", "stage": 2, "rank": 89, "close": 0.3584 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 8, "B": 7.5, "C": 3.5, "D": 2.0, "E": 1 }, "total": 53.2, "capped": false, "no_revenue": false, "metrics": { "market_cap": 1233931977, "fdv": 2550667597, "fdv_mc": 2.067105516789764, "fees30": 18051109.42, "rev30": 6130023.36, "hr30": 3061880.53, "hr90": 8153905.899999999, "hr_prev90": 6979166.140000001, "hr_ann": 33068618.372222222, "holder_yield": 0.026799385208105538, "quarters": 7, "fee_growth": 1.034578198053606, "tvl_growth": null, "tvl_now": 2633585212.089512, "tvl_days": 0, "pe": 37.314288825459606, "pe_median_1y": 14.675537524497038, "accel": 1.1683209335377707, "davis": "none", "unlock_12m": 0.14, "mechanism": true, "llama": [ "Ape Jupiter", "Jupiter Aggregator", "Jupiter DCA", "Jupiter Lend", "Jupiter Lend DEX", "Jupiter Limit", "Jupiter Offerbook", "Jupiter Perpetual Exchange", "Jupiter Prediction", "Jupiter Staked SOL", "Jupiter Studio" ], "gecko_id": "jupiter-exchange-solana" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Jupiter 是 Solana 上的交易聚合器+永续+借贷全栈 DEX，交易者为更优成交和杠杆付费（聚合/永续/借贷手续费），50% 链上收入经 Litterbox Trust 程序化回购 JUP。", "one_sentence_en": "Jupiter is Solana's full-stack DEX (aggregator, perps, lending); traders pay fees for best execution and leverage, and 50% of onchain revenue programmatically buys JUP via the Litterbox Trust.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 12 }, { "base": "KAS", "products": { "futures": { "symbol": "KASUSDT", "stage": 2, "rank": 184, "close": 0.04053 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 5.5, "C": 1.75, "D": 3, "E": 0 }, "total": 19.6, "capped": false, "no_revenue": true, "metrics": { "market_cap": 1103743416, "fdv": 1103902621, "fdv_mc": 1.0001442409510146, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [], "gecko_id": "kaspa" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Kaspa 是无预挖、无团队/VC 分配的 PoW blockDAG 公链（10 块/秒），用户为转账支付 KAS 手续费给矿工；2026 年 Toccata 硬分叉加入 covenant 可编程性与 KRC-20，但目前仍主要是支付/结算用途。", "one_sentence_en": "Kaspa is a fair-launched PoW blockDAG chain (10 blocks/s) with no premine or team/VC allocation; users pay KAS transaction fees to miners. The 2026 Toccata hard fork added covenant programmability and KRC-20, but it remains mainly a payments/settlement layer.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 52 }, { "base": "KAVA", "products": { "futures": { "symbol": "KAVAUSDT", "stage": 2, "rank": 190, "close": 0.06722 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 3.0, "C": 1.0, "D": 3, "E": 0 }, "total": 13.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 72427894, "fdv": 72427894, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [], "gecko_id": "kava" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Kava 是 Cosmos SDK + EVM 的 DeFi L1，用户为交易支付极低的 KAVA gas（约 $0.0001），验证者靠质押 KAVA 获得来自固定奖励池/社区池的奖励；2024 年起零增发，总量固定 10.8 亿。", "one_sentence_en": "Kava is a Cosmos-SDK + EVM DeFi L1; users pay tiny KAVA gas (~$0.0001) and validators are paid from a fixed reward pool/community pool rather than inflation since 2024, with supply fixed at 1.08B.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 68 }, { "base": "KMNO", "products": { "spot": { "symbol": "KMNOUSDT", "stage": 2, "rank": 195, "close": 0.0375 }, "futures": { "symbol": "KMNOUSDT", "stage": 2, "rank": 189, "close": 0.03744 } }, "status": "red_line", "red_lines": [ "R3" ], "audit": { "file": "2026-10-08.json", "B_first": 6.0, "B_audit": 5.0, "C_first": 2.0, "C_audit": 1.25 }, "scores": { "A": 2, "B": 6.0, "C": 2.5, "D": 1, "E": 0 }, "total": 24.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 214380649, "fdv": 375743547, "fdv_mc": 1.7526933925832084, "fees30": 4877586.0, "rev30": 631809.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 0.8730987283869925, "tvl_growth": null, "tvl_now": 1432075146.3944001, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.27, "mechanism": false, "llama": [ "Kamino Lend", "Kamino Liquidity" ], "gecko_id": "kamino" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Kamino 是 Solana 上最大的借贷与流动性管理协议（TVL $1.43B），借款人付利息、清算费和开仓费，协议留存利差；KMNO 目前只是治理/积分加成代币，收入不回流。", "one_sentence_en": "Kamino is Solana's largest lending/liquidity venue (TVL $1.43B); borrowers pay interest, liquidation and origination fees and the protocol keeps a spread, but KMNO is only a governance/points-boost token with no revenue flow to holders.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [] }, { "base": "LDO", "products": { "spot": { "symbol": "LDOUSDT", "stage": 2, "rank": 95, "close": 0.4593 }, "futures": { "symbol": "LDOUSDT", "stage": 2, "rank": 95, "close": 0.459 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 8, "B": 6.0, "C": 2.5, "D": 4, "E": 1 }, "total": 52.7, "capped": false, "no_revenue": false, "metrics": { "market_cap": 378493995, "fdv": 456254463, "fdv_mc": 1.2054470322574073, "fees30": 52153613.0, "rev30": 3228346.0, "hr30": 2252874.0, "hr90": 3031366.0, "hr_prev90": 4030385.0, "hr_ann": 12293873.222222222, "holder_yield": 0.032481025814484116, "quarters": 2, "fee_growth": 1.0840126155560241, "tvl_growth": null, "tvl_now": 24974272809.738407, "tvl_days": 0, "pe": 30.78720498889153, "pe_median_1y": 21.857656501951777, "accel": 0.7521281465666432, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Lido" ], "gecko_id": "lido-dao" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Lido 是以太坊最大的流动性质押协议：ETH 质押者把 ETH 存入换取 stETH，协议从质押奖励中抽取约 10% 手续费（DAO 与节点运营商分成），LDO 是治理代币并通过 NEST 机制用收入盈余回购 LDO 进国库。", "one_sentence_en": "Lido is Ethereum's largest liquid staking protocol: stakers deposit ETH for stETH, the protocol takes ~10% of staking rewards (split DAO/node operators); LDO governs the DAO and NEST uses revenue surplus to buy LDO into the treasury.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 14 }, { "base": "LINK", "products": { "spot": { "symbol": "LINKUSDT", "stage": 2, "rank": 16, "close": 13.326 }, "futures": { "symbol": "LINKUSDT", "stage": 2, "rank": 20, "close": 13.319 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 6, "B": 7.0, "C": 3.5, "D": 4, "E": 1 }, "total": 49.2, "capped": false, "no_revenue": false, "metrics": { "market_cap": 9818635119, "fdv": 13124763411, "fdv_mc": 1.3367197428084812, "fees30": 4452210.0, "rev30": 4394742.0, "hr30": 4394742.0, "hr90": 13474469.0, "hr_prev90": 15004599.0, "hr_ann": 54646457.61111111, "holder_yield": 0.005565585944360533, "quarters": 5, "fee_growth": 0.8921058782581064, "tvl_growth": null, "tvl_now": 0.0, "tvl_days": 0, "pe": 179.67560109520446, "pe_median_1y": 123.30237996719742, "accel": 0.8980225996042946, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Chainlink Requests", "Chainlink Staking" ], "gecko_id": "chainlink" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Chainlink 是去中心化预言机/跨链网络：DeFi 协议与企业客户为价格数据、CCIP 跨链、VRF 等服务付费（可用稳定币，经 Payment Abstraction 兑换为 LINK），链上与链下收入被买成 LINK 存入 Chainlink Reserve；LINK 还用于节点质押。", "one_sentence_en": "Chainlink is a decentralized oracle/cross-chain network: DeFi protocols and enterprises pay for price feeds, CCIP and VRF (payable in stablecoins, converted to LINK via Payment Abstraction); onchain and offchain revenue is swapped into LINK and deposited into the Chainlink Reserve; LINK is also staked by nodes.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 19 }, { "base": "LIT", "products": { "futures": { "symbol": "LITUSDT", "stage": 2, "rank": 39, "close": 3.5729 } }, "status": "red_line", "red_lines": [ "R3" ], "audit": null, "scores": { "A": 8, "B": 5.5, "C": 3.0, "D": 1.0, "E": 1 }, "total": 46.5, "capped": false, "no_revenue": false, "metrics": { "market_cap": 891335369, "fdv": 3565341477, "fdv_mc": 4.000000001121912, "fees30": 5489862.0, "rev30": 4594967.0, "hr30": 2554030.0, "hr90": 7298793.0, "hr_prev90": 7004781.0, "hr_ann": 29600660.5, "holder_yield": 0.03320934132032631, "quarters": 4, "fee_growth": 1.3429682068561217, "tvl_growth": null, "tvl_now": 114168831.49697201, "tvl_days": 0, "pe": 30.112009460059177, "pe_median_1y": 14.279008177580058, "accel": 1.0419730466948218, "davis": "none", "unlock_12m": 0.56, "mechanism": true, "llama": [ "Lighter Perps", "Lighter Robinhood Perps", "Lighter Spot" ], "gecko_id": "lighter" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Lighter 是 zk 订单簿永续合约 DEX（Robinhood Wallet 内置），做市商/高频交易者付 maker/taker 费，零售零手续费；协议用手续费回购并销毁 LIT。", "one_sentence_en": "Lighter is a zk order-book perp DEX (embedded in Robinhood Wallet); market makers/HFTs pay maker-taker fees while retail trades free, and the protocol uses fee revenue to buy back and burn LIT.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [] }, { "base": "LSK", "products": { "spot": { "symbol": "LSKUSDT", "stage": 2, "rank": 32, "close": 0.2358 }, "futures": { "symbol": "LSKUSDT", "stage": 2, "rank": 13, "close": 0.23552 } }, "status": "red_line", "red_lines": [ "R4" ], "audit": null, "scores": { "A": 0, "B": 1.0, "C": 0.0, "D": 2, "E": 0 }, "total": 6.0, "capped": false, "no_revenue": true, "metrics": { "market_cap": 51071504, "fdv": 70797201, "fdv_mc": 1.3862368533341018, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": null, "mechanism": false, "llama": [], "gecko_id": "lisk" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Lisk 原是 OP Stack 以太坊 L2，已宣布 2026-10-31 关停链并转型为面向企业的法币/稳定币财务平台，LSK 将变成该平台的‘忠诚度代币’（企业用平台可赚 LSK、可抵扣费用），DAO 拟解散、治理合约暂停。", "one_sentence_en": "Lisk was an OP-Stack Ethereum L2; it announced the chain will shut down on 31 Oct 2026 and pivot to a business fiat/stablecoin finance platform, with LSK becoming that platform's loyalty token (earned via usage/referrals, spendable on fees) while the DAO is wound down and governance contracts paused.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "LTC", "products": { "spot": { "symbol": "LTCUSDT", "stage": 2, "rank": 20, "close": 66.11 }, "futures": { "symbol": "LTCUSDT", "stage": 2, "rank": 30, "close": 66.06 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 6.5, "C": 2.5, "D": 3, "E": 0 }, "total": 29.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 5015750037, "fdv": 5015927172, "fdv_mc": 1.00003531575511, "fees30": 15008.0, "rev30": 0.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 1.0000524521374246, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [ "Litecoin" ], "gecko_id": "litecoin" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Litecoin 是 2011 年起运行的 PoW 支付链，用户为转账付极低矿工费（均值 ~$0.002），费用归矿工而非持币人，LTC 本身即是被转移的货币。", "one_sentence_en": "Litecoin is a PoW payments chain running since 2011; users pay sub-cent miner fees (~$0.002 avg) which go to miners, not holders; LTC itself is the money being transferred.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 37 }, { "base": "MET", "products": { "spot": { "symbol": "METUSDT", "stage": 2, "rank": 101, "close": 0.4454 }, "futures": { "symbol": "METUSDT", "stage": 2, "rank": 86, "close": 0.4443 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 6.0, "C": 3.5, "D": 2.0, "E": 1 }, "total": 36.2, "capped": false, "no_revenue": false, "metrics": { "market_cap": 251029231, "fdv": 448980842, "fdv_mc": 1.7885600024006767, "fees30": 34172497.82, "rev30": 4179567.8200000003, "hr30": 100382.0, "hr90": 149237.0, "hr_prev90": 382031.0, "hr_ann": 605238.9444444445, "holder_yield": 0.0024110297515289943, "quarters": 7, "fee_growth": 1.4329951799728837, "tvl_growth": null, "tvl_now": 270467175.79540986, "tvl_days": 0, "pe": 414.76053929481105, "pe_median_1y": 13.62653143418708, "accel": 0.39064107363015044, "davis": "none", "unlock_12m": 0.054, "mechanism": true, "llama": [ "Meteora DAMM V1", "Meteora DAMM V2", "Meteora DLMM", "Meteora Dynamic Bonding Curve", "Metronome Synth" ], "gecko_id": "meteora" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Meteora 是 Solana 上的 DEX/流动性协议（DLMM、DAMM、发射台曲线），交易者为换币支付手续费，大头给 LP、协议抽成一部分，其中 10% 的 DLMM 协议费以 USDC 分给 MET 质押者并用于回购 MET。", "one_sentence_en": "Meteora is a Solana DEX/liquidity protocol (DLMM, DAMM, launch curves); traders pay swap fees, mostly to LPs, and the protocol's cut partly funds USDC rewards to MET stakers (10% of DLMM protocol fees) and MET buybacks.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 29 }, { "base": "MINA", "products": { "spot": { "symbol": "MINAUSDT", "stage": 2, "rank": 108, "close": 0.0923 }, "futures": { "symbol": "MINAUSDT", "stage": 2, "rank": 110, "close": 0.09198 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 3.0, "C": 1.0, "D": 3, "E": 0 }, "total": 13.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 119431914, "fdv": 119431914, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.03, "mechanism": null, "llama": [], "gecko_id": "mina-protocol" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Mina 是固定大小（22KB）零知识证明的 L1，定位为「证明验证机」，zkApp 开发者与用户为交易付 MINA gas；但基金会自己承认它不是应用平台，付费量极小且无公开收入数据。", "one_sentence_en": "Mina is a succinct (22KB) zero-knowledge L1 positioned as a proof-verification machine; zkApp developers and users pay MINA gas, but the Foundation itself concedes it is not an application platform and paying volume is tiny with no public revenue data.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 69 }, { "base": "MON", "products": { "futures": { "symbol": "MONUSDT", "stage": 2, "rank": 98, "close": 0.02545 } }, "status": "red_line", "red_lines": [ "R3" ], "audit": null, "scores": { "A": 6, "B": 5.5, "C": 3.75, "D": 5.0, "E": 9 }, "total": 56.6, "capped": false, "no_revenue": false, "metrics": { "market_cap": 300639938, "fdv": 2559736657, "fdv_mc": 8.514293456912567, "fees30": 468712.0, "rev30": 397427.0, "hr30": 397427.0, "hr90": 902928.0, "hr_prev90": 314009.0, "hr_ann": 3661874.6666666665, "holder_yield": 0.012180266836891999, "quarters": 4, "fee_growth": 2.4070724307080895, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 82.10000760994551, "pe_median_1y": 272.64623176152855, "accel": 2.8754844606364784, "davis": "both", "unlock_12m": 1.61, "mechanism": true, "llama": [ "Monad" ], "gecko_id": "monad" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Monad 是高性能并行执行的 EVM 兼容 L1：用户用 MON 付 gas，base fee 销毁、priority fee 归验证者；MON 同时是质押与验证者奖励代币。", "one_sentence_en": "Monad is a high-performance parallel-execution EVM L1: users pay gas in MON, base fees are burned and priority fees go to validators; MON is also the staking asset.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [] }, { "base": "MORPHO", "products": { "spot": { "symbol": "MORPHOUSDT", "stage": 2, "rank": 93, "close": 2.542 }, "futures": { "symbol": "MORPHOUSDT", "stage": 2, "rank": 129, "close": 2.5393 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 7.5, "C": 1.75, "D": 2, "E": 0 }, "total": 28.6, "capped": false, "no_revenue": true, "metrics": { "market_cap": 1750668067, "fdv": 2500142060, "fdv_mc": 1.428107422033648, "fees30": 20340689.48, "rev30": 0.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 1.1085920798668336, "tvl_growth": null, "tvl_now": 11220850070.303188, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.17, "mechanism": false, "llama": [ "Morpho Blue", "Morpho Midnight" ], "gecko_id": "morpho" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Morpho 是无许可借贷基础设施（Morpho Blue 浮动利率、Midnight 固定利率、Vaults 策展层），借款人向存款人付利息，Coinbase/SocGen/Kraken 等机构把它当借贷后端；但费用开关未打开，MORPHO 持有人目前分不到任何收入。", "one_sentence_en": "Morpho is permissionless lending infrastructure (Blue variable-rate, Midnight fixed-rate, curated Vaults); borrowers pay interest to depositors and Coinbase/SocGen/Kraken use it as a lending backend, but the fee switch is off so MORPHO holders currently receive nothing.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 38 }, { "base": "MTL", "products": { "futures": { "symbol": "MTLUSDT", "stage": 2, "rank": 173, "close": 0.3039 } }, "status": "ok", "red_lines": [], "audit": { "file": "2026-10-08.json", "B_first": 3.5, "B_audit": 3.0, "C_first": 1.0, "C_audit": 1.0 }, "scores": { "A": 0, "B": 3.5, "C": 1.0, "D": 3, "E": 0 }, "total": 14.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 28029374, "fdv": 28029374, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": "metal" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "MTL 是 Metallicus 生态（Metal Pay、Metal L2、稳定币 Metal Dollar XMD）的治理与手续费折扣代币：Metal Pay 用户持 1 万枚以上可免交易手续费并投票 XMD 篮子；收入在私营公司 Metallicus 手里，链上不可核。", "one_sentence_en": "MTL is the governance and fee-discount token of the Metallicus ecosystem (Metal Pay, Metal L2, the XMD stablecoin): holders of 10k+ MTL get 0% Metal Pay trading fees and vote on the XMD basket; revenue sits inside the private company Metallicus and is not verifiable on-chain.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 64 }, { "base": "MUBARAK", "products": { "spot": { "symbol": "MUBARAKUSDT", "stage": 2, "rank": 49, "close": 0.07307 }, "futures": { "symbol": "MUBARAKUSDT", "stage": 2, "rank": 42, "close": 0.07316 } }, "status": "red_line", "red_lines": [ "R4" ], "audit": null, "scores": { "A": 0, "B": 0.75, "C": 0.5, "D": 3, "E": 0 }, "total": 8.3, "capped": false, "no_revenue": true, "metrics": { "market_cap": 72304294, "fdv": 72304294, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": "mubarak" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "MUBARAK 是 2025-03 在 BNB 链 Four.meme 发射、后被 Binance 投票上币的阿拉伯语'祝福'主题 meme 币，没有产品、没有收入，没有人为它付钱。", "one_sentence_en": "MUBARAK is an Arabic 'blessed'-themed meme coin launched on BNB Chain via Four.meme in Mar 2025 and later listed on Binance by vote; it has no product, no revenue, and nobody pays for anything.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "NEAR", "products": { "spot": { "symbol": "NEARUSDT", "stage": 2, "rank": 6, "close": 5.335 }, "futures": { "symbol": "NEARUSDT", "stage": 2, "rank": 7, "close": 5.334 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 6.5, "C": 3.5, "D": 6, "E": 5 }, "total": 49.3, "capped": false, "no_revenue": false, "metrics": { "market_cap": 7036292578, "fdv": 7036292653, "fdv_mc": 1.0000000106590223, "fees30": 7458652.0, "rev30": 2141458.0, "hr30": 2069715.0, "hr90": 3566357.0, "hr_prev90": 1575927.05, "hr_ann": 14463558.944444444, "holder_yield": 0.0020555653114350137, "quarters": 3, "fee_growth": 1.5531743118879944, "tvl_growth": null, "tvl_now": 222928128.66170043, "tvl_days": 0, "pe": 486.4841775822188, "pe_median_1y": 420.04707742974654, "accel": 2.2630216290785796, "davis": "accel", "unlock_12m": 0.0, "mechanism": true, "llama": [ "NEAR Intents", "Near", "Near Perps" ], "gecko_id": "near" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "NEAR 是 L1 公链，同时运营跨链意图结算层 NEAR Intents：用户和集成方（钱包/前端/B2B 伙伴）为跨链换币支付协议费与分销费，2026-02-23 起协议净收入用于公开市场回购 NEAR。", "one_sentence_en": "NEAR is an L1 that also runs NEAR Intents, a cross-chain intent settlement layer; users and integrators pay protocol and distribution fees on swaps, and since 2026-02-23 net protocol revenue funds open-market NEAR buybacks.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 18 }, { "base": "NEIRO", "products": { "spot": { "symbol": "NEIROUSDT", "stage": 2, "rank": 165, "close": 8.577e-05 }, "futures": { "symbol": "NEIROUSDT", "stage": 2, "rank": 196, "close": 8.565e-05 } }, "status": "red_line", "red_lines": [ "R4" ], "audit": { "file": "2026-10-08.json", "B_first": 1.0, "B_audit": 0.0, "C_first": 0.5, "C_audit": 0.5 }, "scores": { "A": 0, "B": 1.0, "C": 0.5, "D": 3, "E": 0 }, "total": 8.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 35492130, "fdv": 35492130, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": "neiro-3" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "以 Kabosu（Doge 原型）主人新收养的柴犬 Neiro 为题材的以太坊 meme 币；没有人为它付钱，价值完全来自投机与社区注意力。", "one_sentence_en": "Ethereum memecoin themed on Neiro, the Shiba Inu adopted by Kabosu's (Doge's) owner; nobody pays for anything, value is purely speculative attention.", "confidence": "high", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "NIL", "products": { "spot": { "symbol": "NILUSDT", "stage": 2, "rank": 76, "close": 0.09037 }, "futures": { "symbol": "NILUSDT", "stage": 2, "rank": 56, "close": 0.09023 } }, "status": "red_line", "red_lines": [ "R3" ], "audit": null, "scores": { "A": 0, "B": 3.5, "C": 1.0, "D": 1, "E": 0 }, "total": 10.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 44003537, "fdv": 87600727, "fdv_mc": 1.9907655832302753, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.27, "mechanism": null, "llama": [], "gecko_id": "nillion" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Nillion 是「盲计算/加密市场」隐私基础设施网络（nilDB、nilAI、Covenants 条件密封交易），开发者与应用理论上用 NIL 付费购买加密存储与计算，但目前没有可核实的付费规模。", "one_sentence_en": "Nillion is a blind-compute / encrypted-markets privacy infrastructure network (nilDB, nilAI, Covenants); developers and apps are meant to pay in NIL for encrypted storage and compute, but there is no verifiable paying volume yet.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "NMR", "products": { "spot": { "symbol": "NMRUSDT", "stage": 2, "rank": 112, "close": 14.99 }, "futures": { "symbol": "NMRUSDT", "stage": 2, "rank": 79, "close": 14.93 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 6.5, "C": 2.5, "D": 2, "E": 0 }, "total": 20.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 100004875, "fdv": 147781892, "fdv_mc": 1.4777468798396078, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [], "gecko_id": "numeraire" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Numerai 是一家 SEC 注册的市场中性量化对冲基金（AUM >$4.4 亿），把脱敏数据开放给全球数据科学家，参赛者质押 NMR 为自己的模型背书，模型好拿 NMR 奖励、模型差质押被销毁；基金 LP 付管理费，但基金收入不公开，NMR 价值来自质押需求、销毁与公司回购。", "one_sentence_en": "Numerai is an SEC-registered market-neutral quant hedge fund (AUM >$440M) that crowdsources models from data scientists who stake NMR on their predictions, earning NMR when right and having stakes burned when wrong; fund LPs pay fees but fund revenue is undisclosed, so NMR value rests on staking demand, burns and corporate buybacks.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 50 }, { "base": "ONDO", "products": { "spot": { "symbol": "ONDOUSDT", "stage": 2, "rank": 22, "close": 0.4702 }, "futures": { "symbol": "ONDOUSDT", "stage": 2, "rank": 25, "close": 0.47 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 6.5, "C": 2.5, "D": 1, "E": 0 }, "total": 25.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 2260840797, "fdv": 4643021723, "fdv_mc": 2.053670355365584, "fees30": 6401603.0, "rev30": 0.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 1.2667580912283452, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": null, "mechanism": false, "llama": [ "Ondo Yield Assets" ], "gecko_id": "ondo-finance" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Ondo 是代币化美债/美股等 RWA 的发行与分销平台(OUSG、USDY、Global Markets)：产品持有人以管理费/利差付费；ONDO 代币只承担 Ondo DAO 治理，不分享收入。", "one_sentence_en": "Ondo issues and distributes tokenized Treasuries and stocks (OUSG, USDY, Global Markets); product holders pay management fees/spreads, while ONDO only governs the Ondo DAO and receives no revenue.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [], "rank": 41 }, { "base": "ONE", "products": { "spot": { "symbol": "ONEUSDT", "stage": 2, "rank": 42, "close": 0.00216 }, "futures": { "symbol": "ONEUSDT", "stage": 2, "rank": 31, "close": 0.0021496 } }, "status": "red_line", "red_lines": [ "R5", "R6" ], "audit": null, "scores": { "A": 0, "B": 0.0, "C": 0.0, "D": 1, "E": 0 }, "total": 2.0, "capped": false, "no_revenue": true, "metrics": { "market_cap": 72019053, "fdv": 133893891, "fdv_mc": 1.8591453986488826, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": null, "mechanism": false, "llama": [], "gecko_id": "cross-2" }, "review": { "review_date": "2026-10-08", "model_id": "claude-opus-5-5", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Harmony 原是分片 PoS 公链（ONE 付 gas 与质押），2026-08 遭增发漏洞攻击后提议关停自有 L1、把 ONE 迁成以太坊 ERC-20 并转向“AI 视频 Remix 经济”，新业务谁付钱尚无落地。", "one_sentence_en": "Harmony was a sharded PoS L1 (ONE for gas and staking); after an August 2026 unauthorized-mint exploit it proposed shutting the L1, migrating ONE to an Ethereum ERC-20 and pivoting to an 'AI video remix economy' whose paying customers do not yet exist.", "confidence": "high", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "ONG", "products": { "futures": { "symbol": "ONGUSDT", "stage": 2, "rank": 156, "close": 0.08582 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 4.0, "C": 0.75, "D": 1, "E": 0 }, "total": 11.1, "capped": false, "no_revenue": true, "metrics": { "market_cap": 41213942, "fdv": 68349677, "fdv_mc": 1.6584115394737053, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": null, "mechanism": false, "llama": [], "gecko_id": "ong" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "ONG 是 Ontology 公链的 gas/执行代币，用户用它付交易费、合约执行与跨链费用，ONG 由质押 ONT 的节点持续获得；治理权属于 ONT 而非 ONG。", "one_sentence_en": "ONG is the gas/execution token of the Ontology L1; users pay transaction, contract-execution and cross-chain fees in it, and it is issued to ONT stakers; governance belongs to ONT, not ONG.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 79 }, { "base": "ORCA", "products": { "spot": { "symbol": "ORCAUSDT", "stage": 2, "rank": 98, "close": 2.855 }, "futures": { "symbol": "ORCAUSDT", "stage": 2, "rank": 87, "close": 2.848 } }, "status": "ok", "red_lines": [], "audit": { "file": "2026-10-08.json", "B_first": 7.0, "B_audit": 5.5, "C_first": 1.5, "C_audit": 2.5 }, "scores": { "A": 8, "B": 7.0, "C": 2.0, "D": 5, "E": 5 }, "total": 60.0, "capped": false, "no_revenue": false, "metrics": { "market_cap": 166503835, "fdv": 205394149, "fdv_mc": 1.2335700796320999, "fees30": 10590678.0, "rev30": 1376787.0, "hr30": 508353.0, "hr90": 830905.0, "hr_prev90": 245749.0, "hr_ann": 3369781.388888889, "holder_yield": 0.020238461107450704, "quarters": 8, "fee_growth": 1.8009937377936196, "tvl_growth": null, "tvl_now": 322397355.9324834, "tvl_days": 0, "pe": 49.41087144377071, "pe_median_1y": 42.49094900930358, "accel": 3.3811124358593525, "davis": "accel", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Orca DEX" ], "gecko_id": "orca" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Orca 是 Solana 上的集中流动性 DEX（Whirlpools），交易者为换币支付 swap 费，87% 归 LP、13% 归协议，协议份额的一部分用于回购 ORCA 分给 xORCA 质押者。", "one_sentence_en": "Orca is a concentrated-liquidity DEX on Solana (Whirlpools); traders pay swap fees, 87% to LPs and 13% to the protocol, part of which buys back ORCA for xORCA stakers.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 5 }, { "base": "ORDI", "products": { "spot": { "symbol": "ORDIUSDT", "stage": 2, "rank": 135, "close": 4.519 }, "futures": { "symbol": "ORDIUSDT", "stage": 2, "rank": 136, "close": 4.513 } }, "status": "red_line", "red_lines": [ "R4", "R5" ], "audit": null, "scores": { "A": 0, "B": 0.0, "C": 0.5, "D": 3, "E": 0 }, "total": 6.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 92751981, "fdv": 92751981, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [], "gecko_id": "ordinals" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "ORDI 是 2023-03 由匿名开发者 domo 部署的第一个 BRC-20 铭文代币（2100 万枚固定），余额由链下索引器解析铭文推断，没有团队、国库、收入或任何权利，只是比特币铭文经济的交易标的。", "one_sentence_en": "ORDI is the first BRC-20 inscription token (21M fixed), deployed March 2023 by pseudonymous 'domo'; balances are inferred by off-chain indexers, and it has no team, treasury, revenue or rights — purely a trading unit of the Bitcoin inscriptions economy.", "confidence": "high", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "PENDLE", "products": { "spot": { "symbol": "PENDLEUSDT", "stage": 2, "rank": 84, "close": 2.245 }, "futures": { "symbol": "PENDLEUSDT", "stage": 2, "rank": 100, "close": 2.2434 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 6, "B": 7.5, "C": 2.5, "D": 2.0, "E": 1 }, "total": 44.8, "capped": false, "no_revenue": false, "metrics": { "market_cap": 386136547, "fdv": 625681526, "fdv_mc": 1.6203633944030684, "fees30": 431996.0, "rev30": 425340.0, "hr30": 312455.0, "hr90": 1398788.0, "hr_prev90": 2875149.0, "hr_ann": 5672862.444444444, "holder_yield": 0.014691337788454517, "quarters": 12, "fee_growth": 0.4962153964117309, "tvl_growth": null, "tvl_now": 1233489577.1041474, "tvl_days": 0, "pe": 68.06732064835307, "pe_median_1y": 20.883668654489664, "accel": 0.4865097426255126, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Boros", "Pendle V2" ], "gecko_id": "pendle" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "把生息资产拆成本金/收益两半的收益交易所（V2）+ 资金费率衍生品（Boros）；收益交易者和 LP 支付收益抽成（5%）与交易手续费，因为它是 DeFi 固定收益/积分对冲最深的市场。", "one_sentence_en": "Yield-splitting exchange (V2) plus funding-rate derivatives (Boros); yield traders and LPs pay a 5% yield fee and swap fees because it is the deepest venue for fixed yield and points hedging in DeFi.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 20 }, { "base": "PENGU", "products": { "spot": { "symbol": "PENGUUSDT", "stage": 2, "rank": 40, "close": 0.008691 }, "futures": { "symbol": "PENGUUSDT", "stage": 2, "rank": 38, "close": 0.008684 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 2.5, "C": 1.0, "D": 2, "E": 0 }, "total": 10.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 539881003, "fdv": 658939187, "fdv_mc": 1.2205267148471974, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.138, "mechanism": null, "llama": [], "gecko_id": "pudgy-penguins" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Pudgy Penguins IP（NFT + 玩具 + 授权）的社区/meme 代币；消费者为玩具和周边付钱给母公司 Igloo Inc，但这笔钱不以任何可核实方式流向 PENGU 持有人。", "one_sentence_en": "Community/meme token of the Pudgy Penguins IP (NFTs, toys, licensing); consumers pay Igloo Inc for toys and merchandise, but none of that revenue verifiably flows to PENGU holders.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 82 }, { "base": "PEOPLE", "products": { "futures": { "symbol": "PEOPLEUSDT", "stage": 2, "rank": 191, "close": 0.008258 } }, "status": "red_line", "red_lines": [ "R4" ], "audit": null, "scores": { "A": 0, "B": 2.5, "C": 0.75, "D": 3, "E": 0 }, "total": 12.1, "capped": false, "no_revenue": true, "metrics": { "market_cap": 41145345, "fdv": 41145345, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": "constitutiondao" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "PEOPLE 是 2021 年 ConstitutionDAO 竞拍美国宪法副本失败后留下的退款凭证代币（100 万 PEOPLE 可赎 1 ETH 原始出资），官方明确“除赎回 ETH 外无任何权利、治理或用途”，现为历史性 meme 资产，没有人为它付钱。", "one_sentence_en": "PEOPLE is the refund receipt token left after ConstitutionDAO's failed 2021 bid for a US Constitution copy (1M PEOPLE redeems 1 ETH of original contribution); the DAO states it has no rights, governance or utility beyond redemption, so it trades as a historical meme.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "PEPE", "products": { "spot": { "symbol": "PEPEUSDT", "stage": 2, "rank": 18, "close": 4.1e-06 }, "futures": { "symbol": "1000PEPEUSDT", "stage": 2, "rank": 15, "close": 0.0040914 } }, "status": "red_line", "red_lines": [ "R4", "R6" ], "audit": null, "scores": { "A": 0, "B": 2.0, "C": 0.5, "D": 3, "E": 0 }, "total": 10.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 1697248044, "fdv": 1697248044, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": "pepe" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "PEPE 是以太坊上基于青蛙 Pepe 表情包的 meme 币：固定供应 420.69 万亿，无产品、无收入、无治理，匿名团队多签持有 6.9% 初始分配用于上所与推广，没有人为任何服务付钱。", "one_sentence_en": "PEPE is an Ethereum meme coin based on the Pepe the Frog meme: fixed 420.69T supply, no product, no revenue, no governance; an anonymous multisig holds the 6.9% launch allocation for listings/promo; nobody pays for anything.", "confidence": "high", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "PHA", "products": { "spot": { "symbol": "PHAUSDT", "stage": 2, "rank": 75, "close": 0.063 }, "futures": { "symbol": "PHAUSDT", "stage": 2, "rank": 60, "close": 0.06286 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 4.5, "C": 1.75, "D": 2, "E": 0 }, "total": 15.6, "capped": false, "no_revenue": true, "metrics": { "market_cap": 52934205, "fdv": 61724913, "fdv_mc": 1.1660685751302018, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": null, "mechanism": null, "llama": [], "gecko_id": "pha" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Phala 向开发者和 AI 公司出售机密计算（CPU TEE 虚拟机、H100/H200/B300 GPU TEE 按 $3.20-5.60/GPU/小时、加密 LLM 端点按 token 计费），客户以法币/信用付费；PHA 用于质押成 vPHA 参与治理、作 GPU 挖矿抵押，但收入是否回到代币没有证据。", "one_sentence_en": "Phala sells confidential computing (CPU TEE VMs, H100/H200/B300 GPU TEE at $3.20-5.60/GPU/hour, encrypted LLM endpoints billed per token) to developers and AI companies who pay in fiat/credits; PHA is staked into vPHA for governance and GPU-mining collateral, but there is no evidence revenue flows back to the token.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 59 }, { "base": "PIEVERSE", "products": { "futures": { "symbol": "PIEVERSEUSDT", "stage": 2, "rank": 151, "close": 1.2886 } }, "status": "red_line", "red_lines": [ "R3" ], "audit": null, "scores": { "A": 0, "B": 1.0, "C": 0.0, "D": 0.0, "E": 0 }, "total": 2.0, "capped": false, "no_revenue": true, "metrics": { "market_cap": 350186179, "fdv": 1274562982, "fdv_mc": 3.639672432646178, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.73, "mechanism": null, "llama": [], "gecko_id": "pieverse" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Pieverse 自述为 BNB Chain/以太坊上的 web3 AI 智能体平台（官网：部署带技能的 AI 代理到消息渠道，含加密支付/发票/收据流程），早期宣传为「链上支付合规时间戳」；谁付钱、付多少、代币承载什么权利均无可核实信息。", "one_sentence_en": "Pieverse describes itself as a web3 AI-agent platform on BNB Chain/Ethereum (deploying skill-equipped agents to messaging channels with crypto payment/invoice/receipt flows), earlier marketed as on-chain payment-compliance timestamping; who pays, how much, and what rights the token carries are all unverifiable.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "PLUME", "products": { "spot": { "symbol": "PLUMEUSDT", "stage": 2, "rank": 116, "close": 0.01795 }, "futures": { "symbol": "PLUMEUSDT", "stage": 2, "rank": 180, "close": 0.01793 } }, "status": "red_line", "red_lines": [ "R1" ], "audit": null, "scores": { "A": 2, "B": 2.5, "C": 1.5, "D": 1, "E": 0 }, "total": 16.2, "capped": false, "no_revenue": true, "metrics": { "market_cap": 117172239, "fdv": 177368631, "fdv_mc": 1.513742781683979, "fees30": 2426.0, "rev30": 0.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 0.9259428920445869, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.21, "mechanism": false, "llama": [ "Plume Mainnet" ], "gecko_id": "plume" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Plume 是面向 RWA 代币化的 EVM 公链，用户以 PLUME 付 gas、质押保护网络，但链上 30 天 gas 费仅 $2,395，付费几乎不存在。", "one_sentence_en": "Plume is an EVM chain built for RWA tokenization; users pay gas in PLUME and stake it, but 30-day chain fees were only $2,395, so almost no one is paying.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [] }, { "base": "PROM", "products": { "spot": { "symbol": "PROMUSDT", "stage": 2, "rank": 57, "close": 5.419 }, "futures": { "symbol": "PROMUSDT", "stage": 2, "rank": 118, "close": 5.413 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 2.0, "C": 1.0, "D": 3, "E": 0 }, "total": 11.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 103663628, "fdv": 109343827, "fdv_mc": 1.0547945225301203, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.05, "mechanism": null, "llama": [], "gecko_id": "prometeus" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Prom 是用 Polygon CDK 搭的模块化 zkEVM L2（2026 年又转向 AI agent 经济），PROM 是其 gas/治理币，理论上 32% 网络费分给 DAO 委托人与验证者，但链上费用接近于零、TVL 不足 $1M，实际几乎没人付钱。", "one_sentence_en": "Prom is a Polygon-CDK modular zkEVM L2 (pivoting to AI-agent economics in 2026); PROM is its gas/governance token with 32% of network fees nominally shared to delegates/validators, but on-chain fees are near zero and TVL is under $1M, so almost nobody pays.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 77 }, { "base": "PUMP", "products": { "spot": { "symbol": "PUMPUSDT", "stage": 2, "rank": 19, "close": 0.006238 }, "futures": { "symbol": "PUMPUSDT", "stage": 2, "rank": 17, "close": 0.006234 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 10, "B": 6.0, "C": 3.5, "D": 2.0, "E": 1 }, "total": 57.3, "capped": false, "no_revenue": false, "metrics": { "market_cap": 2786475695, "fdv": 4982449607, "fdv_mc": 1.7880829235081486, "fees30": 186203689.0, "rev30": 61633675.0, "hr30": 27684561.0, "hr90": 70434819.0, "hr_prev90": 50569786.0, "hr_ann": 285652321.5, "holder_yield": 0.10251383926031338, "quarters": 5, "fee_growth": 1.9424689258005932, "tvl_growth": null, "tvl_now": 387708355.5943998, "tvl_days": 0, "pe": 9.754780498081827, "pe_median_1y": 3.665509975021556, "accel": 1.3928241460226864, "davis": "none", "unlock_12m": 0.178, "mechanism": true, "llama": [ "PumpSwap", "Terminal", "pump.fun", "pump.fun Mobile App" ], "gecko_id": "pump-fun" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Solana 上的 meme 币发射台 + 自营 DEX（PumpSwap/Terminal），交易者为每笔 bonding curve / AMM 交易付手续费，因为它是流动性与注意力最集中的发币场所。", "one_sentence_en": "Solana memecoin launchpad plus its own DEX (PumpSwap/Terminal); traders pay per-trade fees on bonding-curve and AMM swaps because it is where launch liquidity and attention concentrate.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 7 }, { "base": "PYTH", "products": { "spot": { "symbol": "PYTHUSDT", "stage": 2, "rank": 111, "close": 0.0738 }, "futures": { "symbol": "PYTHUSDT", "stage": 2, "rank": 127, "close": 0.07372 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 6.0, "C": 3.25, "D": 4.0, "E": 1 }, "total": 39.9, "capped": false, "no_revenue": false, "metrics": { "market_cap": 578401446, "fdv": 734481832, "fdv_mc": 1.2698478488935174, "fees30": 723979.4, "rev30": 434200.5900000001, "hr30": 0.0, "hr90": 1.16, "hr_prev90": 0.0, "hr_ann": 4.704444444444444, "holder_yield": 8.1335281524252e-09, "quarters": 1, "fee_growth": 0.946014273581385, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 122947874.68115258, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.05, "mechanism": true, "llama": [ "Pyth Core", "Pyth Entropy", "Pyth Express Relay", "Pyth Pro" ], "gecko_id": "pyth-network" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Pyth 是第一方金融数据预言机，链上应用按次付更新费、机构按年订阅 Pyth Pro 数据；DAO 份额收入持续买入 PYTH 存入国库。", "one_sentence_en": "Pyth is a first-party financial data oracle; on-chain apps pay per-update fees and institutions subscribe to Pyth Pro, with the DAO's revenue share continuously buying PYTH into the treasury.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 25 }, { "base": "Q", "products": { "futures": { "symbol": "QUSDT", "stage": 2, "rank": 81, "close": 0.021617 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 1.0, "C": 0.5, "D": 1, "E": 0 }, "total": 4.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 99566891, "fdv": 213136871, "fdv_mc": 2.1406400145606637, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.22, "mechanism": null, "llama": [], "gecko_id": "quack-ai" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Quack AI 自称'AI 代理经济的治理层'（x402 免 gas 支付/治理代理），Q 用于治理与委托 AI 代理，但文档未写明谁付钱、收多少，无任何可查收入。", "one_sentence_en": "Quack AI calls itself the governance layer for the agent economy (x402 gasless payments, AI governance delegates); Q is used for governance and delegating to agents, but the docs never say who pays or how much, and no revenue is verifiable.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 96 }, { "base": "QI", "products": { "spot": { "symbol": "QIUSDT", "stage": 2, "rank": 142, "close": 0.002949 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 4.0, "C": 1.0, "D": 3, "E": 0 }, "total": 22.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 20988107, "fdv": 20988107, "fdv_mc": 1.0, "fees30": 1136862.0, "rev30": 126844.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 0.7538763097852588, "tvl_growth": null, "tvl_now": 388113557.8173526, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [ "Benqi Lending", "Benqi Staked Avax", "QiDao" ], "gecko_id": "benqi" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "BENQI 是 Avalanche 上的借贷+流动性质押(sAVAX)+验证者租用(Ignite)协议：借款人付利息、sAVAX 质押收益抽 10% 协议费；QI 质押得 BENQI Miles 投票权与 Ignite 5% 折扣，不分享收入。", "one_sentence_en": "BENQI is Avalanche's lending, liquid-staking (sAVAX) and validator-rental (Ignite) suite: borrowers pay interest and sAVAX rewards carry a 10% protocol fee; staking QI earns Miles voting power and Ignite discounts, with no revenue share.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 46 }, { "base": "QNT", "products": { "spot": { "symbol": "QNTUSDT", "stage": 2, "rank": 15, "close": 253.4 }, "futures": { "symbol": "QNTUSDT", "stage": 2, "rank": 12, "close": 253.23 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 4.5, "C": 1.0, "D": 3, "E": 0 }, "total": 16.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 3507718190, "fdv": 3523709833, "fdv_mc": 1.0045589873911736, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [], "gecko_id": "quant-network" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "英国私营公司 Quant Network 的企业级多链互操作 API（Overledger）；银行与企业客户付许可费与服务费，QNT 是付费/许可的计价代币，但公司收入不回流代币。", "one_sentence_en": "Enterprise multi-chain interoperability API (Overledger) run by UK private company Quant Network; banks and corporates pay licence and service fees, QNT denominates licences but company revenue does not flow to the token.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 55 }, { "base": "RAD", "products": { "spot": { "symbol": "RADUSDT", "stage": 1, "rank": 198, "close": 0.303 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 2.5, "C": 0.75, "D": 1, "E": 0 }, "total": 8.1, "capped": false, "no_revenue": true, "metrics": { "market_cap": 17707838, "fdv": 29974258, "fdv_mc": 1.6927113292994886, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.03, "mechanism": false, "llama": [], "gecko_id": "radicle" }, "review": { "review_date": "2026-10-08", "model_id": "claude-opus-5-5", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Radworks 是一个 DAO，用国库资助 Radicle（点对点代码协作）和 Drips（开源依赖持续资助）两个产品；目前没有用户为 RAD 付钱，开支靠国库，RAD 只用于治理国库。", "one_sentence_en": "Radworks is a DAO that funds two products from its treasury, Radicle (peer-to-peer code collaboration) and Drips (continuous funding of open-source dependencies); no user currently pays into RAD, costs are covered by the treasury, and RAD is used to govern that treasury.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 90 }, { "base": "RAY", "products": { "spot": { "symbol": "RAYUSDT", "stage": 2, "rank": 54, "close": 2.4678 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 8, "B": 7.0, "C": 2.75, "D": 3, "E": 5 }, "total": 57.1, "capped": false, "no_revenue": false, "metrics": { "market_cap": 656435831, "fdv": 1350022386, "fdv_mc": 2.0565946010951373, "fees30": 43523859.0, "rev30": 7225465.0, "hr30": 4408447.0, "hr90": 6571275.0, "hr_prev90": 2013667.0, "hr_ann": 26650170.833333332, "holder_yield": 0.040598287867277205, "quarters": 6, "fee_growth": 3.6932777952634126, "tvl_growth": null, "tvl_now": 1301168432.1881301, "tvl_days": 0, "pe": 24.63158060431445, "pe_median_1y": 16.801343168732984, "accel": 3.263337483307816, "davis": "accel", "unlock_12m": 0.0, "mechanism": true, "llama": [ "LaunchLab", "Raydium AMM" ], "gecko_id": "raydium" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Raydium 是 Solana 上的 AMM 现货交易所兼代币发射台（LaunchLab），交易者为撮合流动性支付 0.25% 左右的手续费，其中 12% 自动在二级市场回购 RAY。", "one_sentence_en": "Raydium is Solana's AMM DEX plus token launchpad (LaunchLab); traders pay ~0.25% swap fees for liquidity, and 12% of fees are routed to on-chain RAY buybacks.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 8 }, { "base": "RAYSOL", "products": { "futures": { "symbol": "RAYSOLUSDT", "stage": 2, "rank": 45, "close": 2.4646 } }, "status": "red_line", "red_lines": [ "R4", "R5" ], "audit": null, "scores": { "A": 0, "B": 0.0, "C": 0.0, "D": 1, "E": 0 }, "total": 2.0, "capped": false, "no_revenue": true, "metrics": { "market_cap": null, "fdv": null, "fdv_mc": null, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": null, "mechanism": null, "llama": [], "gecko_id": null }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "RAYSOL 只能查到是 Binance 的一个 USDT 本位永续合约（RAYSOLUSDT，未平仓约 $1,600 万），CoinGlass 显示流通量 0、市值 0、现货成交 0；我无法确认它对应什么项目、是否有现货代币、谁付钱——说不清。", "one_sentence_en": "RAYSOL can only be found as a Binance USDT-margined perpetual (RAYSOLUSDT, ~$16M OI); CoinGlass shows 0 circulating supply, 0 market cap, 0 spot volume. I could not identify the underlying project, whether a spot token exists, or who pays — cannot be described.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "RENDER", "products": { "spot": { "symbol": "RENDERUSDT", "stage": 2, "rank": 73, "close": 2.025 }, "futures": { "symbol": "RENDERUSDT", "stage": 2, "rank": 103, "close": 2.021 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 5.5, "C": 3.5, "D": 7, "E": 9 }, "total": 53.2, "capped": false, "no_revenue": false, "metrics": { "market_cap": 1035582259, "fdv": 1065046549, "fdv_mc": 1.02845190688034, "fees30": 252944.0, "rev30": 252944.0, "hr30": 240288.0, "hr90": 543306.0, "hr_prev90": 296203.0, "hr_ann": 2203407.6666666665, "holder_yield": 0.00212769931844368, "quarters": 6, "fee_growth": 1.8341121420393136, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 469.99122071978513, "pe_median_1y": 500.5161520533634, "accel": 1.834235304841612, "davis": "both", "unlock_12m": null, "mechanism": true, "llama": [ "Render Network BME" ], "gecko_id": "render-token" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Render 是去中心化 GPU 渲染/AI 算力网络，创作者为渲染与 AI 任务付费（法币换 RENDER 后销毁），节点运营商按排放领 RENDER，OTOY 抽 5% 服务费。", "one_sentence_en": "Render is a decentralized GPU network where creators pay for rendering/AI jobs (RENDER is burned on job completion under BME), node operators earn emissions, and OTOY takes a 5% service fee.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 13 }, { "base": "REZ", "products": { "spot": { "symbol": "REZUSDT", "stage": 2, "rank": 53, "close": 0.003878 }, "futures": { "symbol": "REZUSDT", "stage": 2, "rank": 119, "close": 0.003873 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 3.5, "C": 1.0, "D": 3, "E": 0 }, "total": 21.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 35156125, "fdv": 37952485, "fdv_mc": 1.0795411894797848, "fees30": 233998.85, "rev30": 35745.14, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 0.45445150741114326, "tvl_growth": null, "tvl_now": 119623434.86691679, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.1, "mechanism": true, "llama": [ "Renzo" ], "gecko_id": "renzo" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Renzo（2026 年更名 Renzo Finance）是以太坊流动性再质押协议（ezETH）转型的链上收益策略基础设施，存款人把 ETH/BTC 交给其金库换取再质押或基差收益并被抽取管理/绩效/提款费，协议曾用 75~100% 收入回购 REZ 并销毁 90%。", "one_sentence_en": "Renzo (rebranded Renzo Finance in 2026) is an Ethereum liquid-restaking protocol (ezETH) turned on-chain yield-strategy infrastructure; depositors hand ETH/BTC to its vaults for restaking or basis yield and pay management/performance/withdrawal fees, and the protocol has used 75-100% of revenue to buy back REZ, burning 90%.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [], "rank": 48 }, { "base": "RUNE", "products": { "spot": { "symbol": "RUNEUSDT", "stage": 2, "rank": 85, "close": 0.72 }, "futures": { "symbol": "RUNEUSDT", "stage": 2, "rank": 148, "close": 0.7197 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 5.5, "C": 4.5, "D": 5, "E": 1 }, "total": 42.7, "capped": false, "no_revenue": false, "metrics": { "market_cap": 233495024, "fdv": 251489900, "fdv_mc": 1.0770674924532868, "fees30": 3385957.0, "rev30": 972490.26, "hr30": 49465.74, "hr90": 125693.73999999999, "hr_prev90": 116840.0, "hr_ann": 509757.9455555555, "holder_yield": 0.002183164064153913, "quarters": 9, "fee_growth": 1.614972451479776, "tvl_growth": null, "tvl_now": 69179156.4878416, "tvl_days": 0, "pe": 458.0507788760945, "pe_median_1y": 277.0899406522128, "accel": 1.0757766175967134, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "THORChain DEX" ], "gecko_id": "thorchain" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "THORChain 是原生跨链兑换网络（BTC/ETH 等无包装互换），兑换者付 swap 费，费用分给节点、LP、TCY 持有人，并销毁 5% 作为 RUNE 的通缩回报。", "one_sentence_en": "THORChain is a native cross-chain swap network (BTC/ETH etc. without wrapping); swappers pay swap fees that flow to nodes, LPs and TCY holders, with 5% of fees burned as RUNE's deflationary return.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 22 }, { "base": "SAGA", "products": { "spot": { "symbol": "SAGAUSDT", "stage": 1, "rank": 48, "close": 0.02335 }, "futures": { "symbol": "SAGAUSDT", "stage": 1, "rank": 55, "close": 0.02334 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 1.5, "C": 0.5, "D": 1, "E": 0 }, "total": 5.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": null, "fdv": null, "fdv_mc": null, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.24, "mechanism": null, "llama": [], "gecko_id": null }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Saga 是 Cosmos 系 L1，让开发者一键开‘chainlet’专用链并共享主网验证者安全，开发者理论上为 chainlet 付费、SAGA 用于质押/治理/支付链费；但本次未找到 2026 年任何收入、chainlet 数量或付费客户的证据。", "one_sentence_en": "Saga is a Cosmos-based L1 that lets developers spin up dedicated 'chainlets' secured by mainnet validators; developers are supposed to pay for chainlets and SAGA is used for staking, governance and chain fees, but no 2026 evidence of revenue, chainlet counts or paying customers was found.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 94 }, { "base": "SHIB", "products": { "spot": { "symbol": "SHIBUSDT", "stage": 1, "rank": 82, "close": 5.43e-06 }, "futures": { "symbol": "1000SHIBUSDT", "stage": 1, "rank": 63, "close": 0.005434 } }, "status": "red_line", "red_lines": [ "R4" ], "audit": null, "scores": { "A": 0, "B": 3.0, "C": 0.75, "D": 3, "E": 0 }, "total": 13.1, "capped": false, "no_revenue": true, "metrics": { "market_cap": 3172441811, "fdv": 3173827076, "fdv_mc": 1.0004366557631401, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [], "gecko_id": "shiba-inu" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "SHIB 是 2020 年匿名创始人 Ryoshi 发行的以太坊 meme 币；生态 L2 Shibarium 用 BONE 付 gas 并把一小部分手续费换成 SHIB 销毁，但没有人为 SHIB 本身付钱、SHIB 也不承载治理（治理在 BONE）。", "one_sentence_en": "SHIB is an Ethereum memecoin launched in 2020 by the anonymous Ryoshi; its L2 Shibarium uses BONE for gas and burns a sliver of fees in SHIB, but nobody pays for SHIB itself and governance sits with BONE.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "SKY", "products": { "spot": { "symbol": "SKYUSDT", "stage": 2, "rank": 106, "close": 0.08022 }, "futures": { "symbol": "SKYUSDT", "stage": 2, "rank": 131, "close": 0.08011 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 8, "B": 7.5, "C": 4.3, "D": 5, "E": 5 }, "total": 64.4, "capped": false, "no_revenue": false, "metrics": { "market_cap": 1856338582, "fdv": 1858952213, "fdv_mc": 1.0014079495116586, "fees30": 27223311.0, "rev30": 13474595.0, "hr30": 5549240.0, "hr90": 9761073.0, "hr_prev90": 3350596.0, "hr_ann": 39586573.833333336, "holder_yield": 0.021325082728541455, "quarters": 8, "fee_growth": 0.8621899019455929, "tvl_growth": null, "tvl_now": 6086170527.754999, "tvl_days": 0, "pe": 46.893135784256614, "pe_median_1y": 23.670583059179016, "accel": 2.9132348394136445, "davis": "accel", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Sky Lending", "Sky Money" ], "gecko_id": "sky" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Sky（原 MakerDAO）发行 USDS/DAI 稳定币：借款人支付稳定费、国库 RWA 产生利息收益，协议盈余经 Smart Burn Engine 在公开市场回购 SKY。", "one_sentence_en": "Sky (formerly MakerDAO) issues the USDS/DAI stablecoins; borrowers pay stability fees and treasury RWAs earn yield, and the surplus is routed through the Smart Burn Engine to buy SKY on the open market.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 4 }, { "base": "SOL", "products": { "spot": { "symbol": "SOLUSDT", "stage": 2, "rank": 4, "close": 116.3 }, "futures": { "symbol": "SOLUSDT", "stage": 2, "rank": 4, "close": 116.24 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 8.0, "C": 5.0, "D": 6, "E": 1 }, "total": 50.5, "capped": false, "no_revenue": false, "metrics": { "market_cap": 67797590654, "fdv": 73124743181, "fdv_mc": 1.078574363419295, "fees30": 27742152.0, "rev30": 3141291.0, "hr30": 3141291.0, "hr90": 6982084.0, "hr_prev90": 4864658.0, "hr_ann": 28316229.555555556, "holder_yield": 0.0004176583457082619, "quarters": 12, "fee_growth": 1.5883364138277716, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 2394.3014913402667, "pe_median_1y": 2054.282608898545, "accel": 1.4352671863058, "davis": "none", "unlock_12m": null, "mechanism": true, "llama": [ "Solana" ], "gecko_id": "solana" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "高吞吐公链；用户为每笔交易付基础费和优先费（基础费 50% 销毁），因为它是稳定币支付、DEX 与 meme 交易最活跃的执行层。", "one_sentence_en": "High-throughput L1; users pay base and priority fees on every transaction (50% of base fees burned) because it is the most active execution layer for stablecoin payments, DEX and memecoin trading.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 16 }, { "base": "SOLV", "products": { "spot": { "symbol": "SOLVUSDT", "stage": 1, "rank": 196, "close": 0.00386 } }, "status": "red_line", "red_lines": [ "R3" ], "audit": null, "scores": { "A": 2, "B": 4.5, "C": 1.5, "D": 1, "E": 0 }, "total": 20.3, "capped": false, "no_revenue": true, "metrics": { "market_cap": 21131205, "fdv": 35717337, "fdv_mc": 1.690265036944178, "fees30": 2500136.0, "rev30": 1250542.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 1.1940623738782348, "tvl_growth": null, "tvl_now": 529367302.5744881, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.28, "mechanism": false, "llama": [ "SolvBTC" ], "gecko_id": "solv-protocol" }, "review": { "review_date": "2026-10-08", "model_id": "claude-opus-5-5", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Solv Protocol 是 BTC 收益平台：BTC 持有人存入换取 SolvBTC/xSolvBTC 并进入收益金库，Solv 从金库收益中抽绩效费及申购/赎回费；SOLV 代币目前只有治理与期权价值，不分享这些现金流。", "one_sentence_en": "Solv Protocol is a Bitcoin yield platform: BTC holders deposit to mint SolvBTC/xSolvBTC and enter yield vaults, and Solv takes performance, subscription and redemption fees on that yield; the SOLV token currently carries governance and optionality only, with no claim on that cash flow.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [] }, { "base": "SOON", "products": { "futures": { "symbol": "SOONUSDT", "stage": 2, "rank": 69, "close": 0.3226 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 3.0, "C": 1.0, "D": 0.0, "E": 0 }, "total": 7.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 107941434, "fdv": 3497804488, "fdv_mc": 32.40465091468027, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": "soon-2" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "用 Solana 虚拟机做执行层的以太坊/BNB 乐观 Rollup 及 Rollup 发行栈（SOON Stack）；理论上链上用户付 gas、项目方付 RaaS 费，但目前 TVL 仅 $650 万~1,500 万，没有可核实的收入。", "one_sentence_en": "Optimistic rollup on Ethereum/BNB using the Solana VM as execution layer, plus a rollup-as-a-service stack; in theory users pay gas and projects pay RaaS fees, but TVL is only $6.5-15M and there is no verifiable revenue.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 91 }, { "base": "SPK", "products": { "spot": { "symbol": "SPKUSDT", "stage": 2, "rank": 184, "close": 0.022567 } }, "status": "ok", "red_lines": [], "audit": { "file": "2026-10-08.json", "B_first": 7.5, "B_audit": 7.0, "C_first": 2.25, "C_audit": 2.0 }, "scores": { "A": 8, "B": 7.5, "C": 2.75, "D": 3.0, "E": 1 }, "total": 54.1, "capped": false, "no_revenue": false, "metrics": { "market_cap": 75907475, "fdv": 221751167, "fdv_mc": 2.921335046383772, "fees30": 18031833.0, "rev30": 1008186.0, "hr30": 726846.0, "hr90": 1850234.0, "hr_prev90": 1341160.0, "hr_ann": 7503726.777777778, "holder_yield": 0.09885359482419588, "quarters": 3, "fee_growth": 0.9163122959007267, "tvl_growth": null, "tvl_now": 8187915164.257372, "tvl_days": 0, "pe": 10.11597000370527, "pe_median_1y": 9.609644231003134, "accel": 1.3795773807748517, "davis": "none", "unlock_12m": 0.088, "mechanism": true, "llama": [ "Spark Liquidity Layer", "SparkLend" ], "gecko_id": "spark-2" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Spark 是 Sky(MakerDAO) 生态的链上资本分配器+借贷协议(SparkLend)：借款人付利息、Spark 把 Sky 的稳定币储备部署到 DeFi/CeFi/RWA 赚利差，净收入一部分按治理参数回购 SPK；SPK 承担治理与质押。", "one_sentence_en": "Spark is Sky's onchain capital allocator plus lending market: borrowers pay interest and Spark deploys Sky's stablecoin reserves across DeFi/CeFi/RWA for spread; part of net revenue buys back SPK, which governs and can be staked.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 11 }, { "base": "SPX", "products": { "futures": { "symbol": "SPXUSDT", "stage": 2, "rank": 157, "close": 0.3927 } }, "status": "red_line", "red_lines": [ "R4" ], "audit": null, "scores": { "A": 0, "B": 2.25, "C": 0.75, "D": 3, "E": 0 }, "total": 11.6, "capped": false, "no_revenue": true, "metrics": { "market_cap": 359136587, "fdv": 359136587, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": "spx6900" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "SPX6900 是以太坊上的 meme 币（亦桥至 Solana/Base），叙事是“6900 > 500”戏仿标普 500；10 亿总量 93% 流通、23.6 万持有人，没有任何功能、治理或收入，没有人为它付钱。", "one_sentence_en": "SPX6900 is an Ethereum memecoin (also on Solana/Base) parodying the S&P 500 with the '6900 > 500' narrative; 1B supply, 93% circulating, 236K holders, no utility, governance or revenue.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "STEEM", "products": { "spot": { "symbol": "STEEMUSDT", "stage": 2, "rank": 179, "close": 0.05928 }, "futures": { "symbol": "STEEMUSDT", "stage": 2, "rank": 137, "close": 0.05917 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 1.5, "C": 0.5, "D": 3, "E": 0 }, "total": 9.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 32861736, "fdv": 32864179, "fdv_mc": 1.0000743417815785, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [], "gecko_id": "steem" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Steem 是 2016 年上线的社交区块链（Steemit 博客），用代币增发奖励发帖与点赞，没有人为服务付钱——奖励来自通胀；2020 年被孙宇晨收购 Steemit Inc. 后发生治理接管，多数开发者分叉到 Hive，如今是'孙宇晨链'。", "one_sentence_en": "Steem is a 2016 social blockchain (Steemit blogging) that pays posters/voters with newly issued tokens — nobody pays for a service, rewards come from inflation; after Justin Sun bought Steemit Inc. in 2020 and took over governance, most developers forked to Hive; it is now the 'Justin Sun chain'.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 85 }, { "base": "STX", "products": { "spot": { "symbol": "STXUSDT", "stage": 2, "rank": 127, "close": 0.3709 }, "futures": { "symbol": "STXUSDT", "stage": 2, "rank": 123, "close": 0.3704 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 6.0, "C": 4.3, "D": 3, "E": 0 }, "total": 31.4, "capped": false, "no_revenue": true, "metrics": { "market_cap": 679307582, "fdv": 679317208, "fdv_mc": 1.0000141703114394, "fees30": 52876.0, "rev30": 0.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 2.2937853270260593, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Stacks" ], "gecko_id": "blockstack" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Stacks 是比特币 L2：用户用 STX 付交易费、矿工为出块权向锁仓（Stacking）的 STX 持有人支付 BTC，sBTC 把 BTC 带入其 DeFi；2025-07 SIP-031 新增 5 年 5 亿 STX 增发给生态基金会，2026 正推进 PoX-5 比特币质押。", "one_sentence_en": "Stacks is a Bitcoin L2: users pay STX for transactions, miners pay BTC to STX holders who lock (Stack) their tokens, and sBTC brings BTC into its DeFi; SIP-031 (Jul 2025) added 500M STX of emissions over 5 years for an Endowment, and PoX-5 Bitcoin Staking is rolling out in 2026.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 34 }, { "base": "SUI", "products": { "spot": { "symbol": "SUIUSDT", "stage": 2, "rank": 8, "close": 1.1283 }, "futures": { "symbol": "SUIUSDT", "stage": 2, "rank": 9, "close": 1.1275 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 6.5, "C": 2.75, "D": 3, "E": 1 }, "total": 38.1, "capped": false, "no_revenue": false, "metrics": { "market_cap": 4648152231, "fdv": 11286660966, "fdv_mc": 2.4282038119848317, "fees30": 434818.0, "rev30": 310375.0, "hr30": 76222.0, "hr90": 140461.0, "hr_prev90": 142875.0, "hr_ann": 569647.3888888889, "holder_yield": 0.000122553513865086, "quarters": 10, "fee_growth": 1.0829763934087504, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 8159.700758159068, "pe_median_1y": 5284.824308834731, "accel": 0.9831041119860018, "davis": "none", "unlock_12m": 0.19, "mechanism": true, "llama": [ "Sui", "Sui Foundation" ], "gecko_id": "sui" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Sui 是 Mysten Labs 主导的 Move 语言 L1 公链，用户用 SUI 支付计算/存储 gas 给验证者与质押者，开发者和稳定币发行方为其高吞吐与对象模型买单。", "one_sentence_en": "Sui is a Move-based L1 led by Mysten Labs; users pay computation/storage gas in SUI to validators and stakers, and developers and stablecoin issuers pay for its throughput and object model.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 26 }, { "base": "SUPER", "products": { "spot": { "symbol": "SUPERUSDT", "stage": 2, "rank": 141, "close": 0.2239 }, "futures": { "symbol": "SUPERUSDT", "stage": 2, "rank": 170, "close": 0.22333 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 2.5, "C": 1.0, "D": 1, "E": 0 }, "total": 8.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 144487476, "fdv": 222232166, "fdv_mc": 1.5380721717361856, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": null, "mechanism": null, "llama": [], "gecko_id": "superfarm" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "SuperVerse（前 SuperFarm）是一个把 SUPER 代币接入多款 web3 游戏（Impostors 等）与 Avalanche 上 Blackhole DEX 的'游戏代币网络'，官方称 Blackhole 的一部分手续费用于回购 SUPER，但谁在付费、付了多少都查不到。", "one_sentence_en": "SuperVerse (ex-SuperFarm) is a 'gaming token network' plugging SUPER into several web3 games (Impostors etc.) and the Blackhole DEX on Avalanche; it claims a share of Blackhole fees buys back SUPER, but who pays and how much cannot be verified.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 88 }, { "base": "SUSHI", "products": { "futures": { "symbol": "SUSHIUSDT", "stage": 2, "rank": 197, "close": 0.2358 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 4, "B": 3.5, "C": 1.5, "D": 4.0, "E": 1 }, "total": 32.2, "capped": false, "no_revenue": false, "metrics": { "market_cap": 66875150, "fdv": 67987366, "fdv_mc": 1.0166312299860263, "fees30": 539733.6, "rev30": 274868.69, "hr30": 6208.0, "hr90": 40586.0, "hr_prev90": 110298.0, "hr_ann": 164598.77777777778, "holder_yield": 0.0024612846143564206, "quarters": 12, "fee_growth": 1.4660555549887428, "tvl_growth": null, "tvl_now": 85020195.99860601, "tvl_days": 0, "pe": 406.29189902179644, "pe_median_1y": 85.06026252606571, "accel": 0.36796678090264556, "davis": "none", "unlock_12m": 0.017, "mechanism": false, "llama": [ "Sushi Launchpad", "Sushi Perps", "Sushi Trident", "SushiSwap", "SushiSwap Agg", "SushiSwap V3" ], "gecko_id": "sushi" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Sushi 是多链 AMM DEX 与聚合器，交易者付交换费；但 2023 年起 DAO 把原本给 xSUSHI 的费用全部转进国库，2024 年又把 25M SUSHI 与国库控制权交给 Sushi Labs，代币持有人目前几乎拿不到收入。", "one_sentence_en": "Sushi is a multi-chain AMM DEX and aggregator where traders pay swap fees; since 2023 the DAO redirected all xSUSHI fees to the treasury and in 2024 handed 25M SUSHI and treasury control to Sushi Labs, so token holders currently receive almost no revenue.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "评审：分享机制未在执行" ], "rank": 33 }, { "base": "SYN", "products": { "spot": { "symbol": "SYNUSDT", "stage": 2, "rank": 78, "close": 0.19713 }, "futures": { "symbol": "SYNUSDT", "stage": 2, "rank": 74, "close": 0.19714 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 1.5, "C": 1.3, "D": 2, "E": 0 }, "total": 16.0, "capped": false, "no_revenue": true, "metrics": { "market_cap": 42112316, "fdv": 48058820, "fdv_mc": 1.1412058173195698, "fees30": 1047.4599999999998, "rev30": 1045.76, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 0.8832245674106554, "tvl_growth": null, "tvl_now": 9754265.059538187, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": null, "mechanism": null, "llama": [ "Hypercall Perps", "Synapse Cross Chain Bridge" ], "gecko_id": "synapse-2" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Synapse 原是跨链桥（用户付桥费），现已把治理与品牌迁到 Cortex（AI 链上代理平台，SYN 可按 1:5.5 换 CX）并押注 Hyperliquid 上的期权平台 Hypercall；桥业务近乎停摆（30 日桥量约 $29.5 万、30 日费用约 $1 千），尚无人为新业务付钱。", "one_sentence_en": "Synapse was a cross-chain bridge (users paid bridge fees); governance and brand have moved to Cortex (an on-chain AI-agent platform, SYN convertible 1:5.5 into CX) with a bet on the Hypercall options venue on Hyperliquid; bridge activity is near zero (~$295K 30-day volume) and the new businesses have no paying revenue yet.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [], "rank": 56 }, { "base": "TAKE", "products": { "futures": { "symbol": "TAKEUSDT", "stage": 2, "rank": 90, "close": 0.06751 } }, "status": "red_line", "red_lines": [ "R3" ], "audit": { "file": "2026-10-08.json", "B_first": 2.75, "B_audit": 2.0, "C_first": 0.75, "C_audit": 1.25 }, "scores": { "A": 0, "B": 2.75, "C": 0.75, "D": 0.0, "E": 0 }, "total": 6.6, "capped": false, "no_revenue": true, "metrics": { "market_cap": 25176286, "fdv": 67666189, "fdv_mc": 2.687695436888507, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.31, "mechanism": null, "llama": [], "gecko_id": "overtake" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "OVERTAKE 是 BNB 链上的游戏资产 P2P 交易市场（智能合约托管+AI 工具）：买卖双方按 GMV 付约 10% 手续费（白皮书称为“示意模型”）；TAKE 用于质押、治理与费用折扣，目前无可核的收入。", "one_sentence_en": "OVERTAKE is a BNB Chain P2P marketplace for game assets (escrow + AI tools): traders pay ~10% of GMV in fees per an 'illustrative' model; TAKE is for staking, governance and discounts, with no verifiable revenue yet.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "TAO", "products": { "spot": { "symbol": "TAOUSDT", "stage": 2, "rank": 17, "close": 291.4 }, "futures": { "symbol": "TAOUSDT", "stage": 2, "rank": 22, "close": 291.28 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 5.0, "C": 2.5, "D": 1, "E": 0 }, "total": 15.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 3214415123, "fdv": 5952806465, "fdv_mc": 1.8519096747666715, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [], "gecko_id": "bittensor" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Bittensor 是一个用 TAO 增发（每日 3,600 枚，按 18/41/41 分给子网主/矿工/验证者）补贴去中心化 AI 子网的网络；外部客户为子网服务付费发生在链下，没有收入回到 TAO 持币人的机制。", "one_sentence_en": "Bittensor subsidizes decentralized AI subnets with TAO emissions (3,600/day split 18/41/41 to subnet owners/miners/validators); external customers pay subnets off-chain and no revenue flows back to TAO holders.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 58 }, { "base": "TIA", "products": { "spot": { "symbol": "TIAUSDT", "stage": 2, "rank": 80, "close": 0.4718 }, "futures": { "symbol": "TIAUSDT", "stage": 2, "rank": 71, "close": 0.4714 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 4.5, "C": 1.9, "D": 2, "E": 0 }, "total": 22.9, "capped": false, "no_revenue": true, "metrics": { "market_cap": 460619223, "fdv": 555018062, "fdv_mc": 1.2049389914410933, "fees30": 2529.0, "rev30": 0.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 1.057490494296578, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.036, "mechanism": false, "llama": [ "Celestia" ], "gecko_id": "celestia" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Celestia 是模块化数据可用性（DA）层：Rollup 为发布数据 blob 向验证者支付 TIA 费用，但团队刻意把费用压到接近零（30 日费用约 $2.6 千）以换市场份额，持币人目前只拿通胀质押奖励。", "one_sentence_en": "Celestia is a modular data-availability layer: rollups pay TIA to post data blobs, but fees are deliberately kept near zero (~$2.6K per 30 days) to win share, so holders currently only receive inflationary staking rewards.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [], "rank": 45 }, { "base": "TRB", "products": { "spot": { "symbol": "TRBUSDT", "stage": 2, "rank": 147, "close": 19.92 }, "futures": { "symbol": "TRBUSDT", "stage": 2, "rank": 162, "close": 19.894 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 3.0, "C": 1.0, "D": 3, "E": 0 }, "total": 13.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 55373100, "fdv": 56788308, "fdv_mc": 1.025557680534411, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.035, "mechanism": null, "llama": [], "gecko_id": "tellor" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Tellor 是去中心化预言机（已迁至 Tellor Layer），数据需求方用 TRB 打赏换取报价（98% 归报告者、2% 销毁），但主要报告者报酬来自固定通胀（每月 4,000 TRB 奖励 + 4,000 TRB 团队开发份额），真实付费不可核实。", "one_sentence_en": "Tellor is a decentralized oracle (now on Tellor Layer) where data requesters tip TRB for reports (98% to reporters, 2% burned), but reporters are mostly paid by fixed inflation (4,000 TRB/month rewards plus 4,000 TRB/month dev share), and real paid demand is unverifiable.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 70 }, { "base": "TRX", "products": { "spot": { "symbol": "TRXUSDT", "stage": 2, "rank": 23, "close": 0.3354 }, "futures": { "symbol": "TRXUSDT", "stage": 2, "rank": 67, "close": 0.33516 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 6, "B": 7.5, "C": 4.0, "D": 6, "E": 1 }, "total": 55.0, "capped": false, "no_revenue": false, "metrics": { "market_cap": 31814697076, "fdv": 31815071515, "fdv_mc": 1.0000117693718442, "fees30": 24003345.0, "rev30": 24003345.0, "hr30": 24003345.0, "hr90": 75563021.0, "hr_prev90": 87459985.0, "hr_ann": 306450029.6111111, "holder_yield": 0.009632341583484298, "quarters": 12, "fee_growth": 0.8639724898192013, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 103.81691630564777, "pe_median_1y": 84.77592248433818, "accel": 0.8639724898192013, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [ "Tron" ], "gecko_id": "tron" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "TRON 是以 USDT 结算为核心用途的公链（稳定币供应 $89B、季度结算 $2.08T），转账与合约用户以 TRX 支付或质押换取带宽/能量，支付的 TRX 手续费被销毁。", "one_sentence_en": "TRON is a public chain whose core use is USDT settlement ($89B stablecoin supply, $2.08T quarterly settlement); users pay or stake TRX for bandwidth/energy, and paid TRX fees are burned.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 10 }, { "base": "TST", "products": { "spot": { "symbol": "TSTUSDT", "stage": 2, "rank": 168, "close": 0.01685 } }, "status": "red_line", "red_lines": [ "R4" ], "audit": null, "scores": { "A": 0, "B": 0.5, "C": 0.0, "D": 1, "E": 0 }, "total": 3.0, "capped": false, "no_revenue": true, "metrics": { "market_cap": null, "fdv": null, "fdv_mc": null, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": null }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "TST 是 BNB Chain 团队 2025-02 在 Four.meme 教学视频里无意暴露的'测试币'，被炒作成 meme 币：无产品、无收入、无团队（创建者私钥已被删除），没有人为任何东西付钱。", "one_sentence_en": "TST is a 'test token' accidentally exposed in a BNB Chain tutorial video on Four.meme in Feb 2025 and pumped into a meme coin: no product, no revenue, no team (creator key deleted); nobody pays for anything.", "confidence": "high", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "TUT", "products": { "spot": { "symbol": "TUTUSDT", "stage": 2, "rank": 96, "close": 0.02339 }, "futures": { "symbol": "TUTUSDT", "stage": 2, "rank": 140, "close": 0.02338 } }, "status": "red_line", "red_lines": [ "R4" ], "audit": null, "scores": { "A": 0, "B": 1.0, "C": 0.75, "D": 3, "E": 0 }, "total": 9.1, "capped": false, "no_revenue": true, "metrics": { "market_cap": 18753656, "fdv": 18753656, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": "tutorial" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "TUT 源自一个'教你在 BNB 链发币'的教学视频演示代币，经 Four.meme 发射后演变为带 AI 教学助手叙事的 meme 币；没有收入，没有人为它付钱。", "one_sentence_en": "TUT began as a demo token from a 'how to launch a token on BNB Chain' tutorial, launched via Four.meme and evolved into a meme coin with an AI-tutor narrative; it has no revenue and nobody pays for anything.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "UNI", "products": { "spot": { "symbol": "UNIUSDT", "stage": 2, "rank": 10, "close": 7.91 }, "futures": { "symbol": "UNIUSDT", "stage": 2, "rank": 10, "close": 7.907 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 8, "B": 8.0, "C": 3.0, "D": 6, "E": 9 }, "total": 69.5, "capped": false, "no_revenue": false, "metrics": { "market_cap": 4883268100, "fdv": 6932047447, "fdv_mc": 1.4195508632835456, "fees30": 150264011.19, "rev30": 11923233.0, "hr30": 11923233.0, "hr90": 29728794.0, "hr_prev90": 13300638.0, "hr_ann": 120566775.66666667, "holder_yield": 0.024689771930946545, "quarters": 4, "fee_growth": 2.8708583446458826, "tvl_growth": null, "tvl_now": 3951549048.0658407, "tvl_days": 0, "pe": 40.502601757393485, "pe_median_1y": 45.79669477033204, "accel": 2.2351404496536182, "davis": "both", "unlock_12m": 0.032, "mechanism": true, "llama": [ "Uniswap V1", "Uniswap V2", "Uniswap V3", "Uniswap V4" ], "gecko_id": "uniswap" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Uniswap 是多链上最大的去中心化交易所协议，交易者为每笔兑换向 LP 支付手续费，2025-12-28 起协议从中抽取一部分（v2 0.05%、v3 LP 费的 1/4~1/6）用于回购并销毁 UNI。", "one_sentence_en": "Uniswap is the largest multi-chain DEX protocol: traders pay swap fees to LPs, and since 28 Dec 2025 the protocol takes a cut (0.05% on v2, 1/4-1/6 of LP fees on v3) to buy back and burn UNI.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 2 }, { "base": "USELESS", "products": { "futures": { "symbol": "USELESSUSDT", "stage": 2, "rank": 35, "close": 0.20535 } }, "status": "red_line", "red_lines": [ "R4", "R5" ], "audit": null, "scores": { "A": 0, "B": 1.0, "C": 0.5, "D": 3, "E": 0 }, "total": 8.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 200628885, "fdv": 200628885, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": "useless-3" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "USELESS 是 2025 年 5 月经 LetsBONK 发射的 Solana meme 币，自我定义为'什么都不做'，没有任何人为任何服务付钱，价格完全靠社区情绪与投机接盘。", "one_sentence_en": "USELESS is a Solana memecoin launched via LetsBONK in May 2025 whose whole identity is doing nothing; nobody pays for any service and price depends entirely on sentiment and speculation.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "VET", "products": { "spot": { "symbol": "VETUSDT", "stage": 2, "rank": 146, "close": 0.008073 }, "futures": { "symbol": "VETUSDT", "stage": 2, "rank": 144, "close": 0.008058 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 4.5, "C": 1.7, "D": 3, "E": 0 }, "total": 17.6, "capped": false, "no_revenue": true, "metrics": { "market_cap": 678127808, "fdv": 678127808, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": null, "mechanism": false, "llama": [], "gecko_id": "vechain" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "VeChain 是面向企业供应链/可持续应用的双代币公链：使用者用 VTHO 付交易费（Renaissance 后基础费 100% 销毁），VET 持有人通过 StarGate 质押获得 VTHO 增发奖励；网络由 VeChain 基金会主导。", "one_sentence_en": "VeChain is a dual-token L1 for enterprise supply-chain/sustainability apps: users pay VTHO for transactions (100% of base fee burned after Renaissance) and VET holders stake via StarGate to earn VTHO emissions; the network is steered by the VeChain Foundation.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 53 }, { "base": "VIRTUAL", "products": { "spot": { "symbol": "VIRTUALUSDT", "stage": 2, "rank": 72, "close": 0.7748 }, "futures": { "symbol": "VIRTUALUSDT", "stage": 2, "rank": 80, "close": 0.7738 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 4.0, "C": 2.5, "D": 1, "E": 0 }, "total": 20.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 498589541, "fdv": 757290800, "fdv_mc": 1.518866196994694, "fees30": 510277.0, "rev30": 153864.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 3.131656235019705, "tvl_growth": null, "tvl_now": 0.0, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.053, "mechanism": false, "llama": [ "Virtuals Protocol" ], "gecko_id": "virtual-protocol" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Virtuals 是 AI Agent 代币发射与交易平台（Base/Solana 等），Agent 创建者支付 VIRTUAL 创建费、交易者支付 1% 交易税（协议分 30%）、ACP 任务收 USDC 税，但这些收入目前回购的是 Agent 代币而非 VIRTUAL。", "one_sentence_en": "Virtuals is a launchpad/exchange for AI-agent tokens: creators pay VIRTUAL to launch, traders pay a 1% tax (protocol keeps 30%), ACP jobs pay USDC fees, but the revenue currently buys back agent tokens, not VIRTUAL.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 49 }, { "base": "VTHO", "products": { "spot": { "symbol": "VTHOUSDT", "stage": 2, "rank": 38, "close": 0.00069 }, "futures": { "symbol": "VTHOUSDT", "stage": 2, "rank": 50, "close": 0.0006889 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 5.0, "C": 1.0, "D": 3, "E": 0 }, "total": 17.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 68964160, "fdv": 68972668, "fdv_mc": 1.0001233684278907, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": true, "llama": [], "gecko_id": "vethor-token" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "VTHO 是 VeChainThor 的 gas 代币：由质押的 VET 按公式持续生成，用户执行交易/合约时支付 VTHO，base fee 销毁、priority fee 归验证者；VTHO 本身无治理权（治理在 VET）。", "one_sentence_en": "VTHO is VeChainThor's gas token: generated continuously from staked VET, paid by users for transactions and contracts, with base fees burned and priority fees to validators; it carries no governance (that sits with VET).", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 54 }, { "base": "VVV", "products": { "futures": { "symbol": "VVVUSDT", "stage": 2, "rank": 40, "close": 25.539 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 6, "B": 4.0, "C": 3.5, "D": 6, "E": 9 }, "total": 55.2, "capped": false, "no_revenue": false, "metrics": { "market_cap": 1201644352, "fdv": 2017546084, "fdv_mc": 1.6789876976844476, "fees30": 1268899.0, "rev30": 1268899.0, "hr30": 1268899.0, "hr90": 2225655.0, "hr_prev90": 795635.79, "hr_ann": 9026267.5, "holder_yield": 0.007511596492736646, "quarters": 4, "fee_growth": 2.7973289135221027, "tvl_growth": null, "tvl_now": 0.0, "tvl_days": 0, "pe": 133.12749173454034, "pe_median_1y": 213.06614030650803, "accel": 2.7973289135221027, "davis": "both", "unlock_12m": 0.026, "mechanism": true, "llama": [ "Venice" ], "gecko_id": "venice-token" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Venice 是隐私优先的生成式 AI 平台（Base 链），个人与开发者按 Pro/Pro+/Max 订阅或 API 付费换取无审查推理；质押 VVV 可按比例免费获得每日推理额度（DIEM），平台拿一部分收入在 Aerodrome 回购并销毁 VVV。", "one_sentence_en": "Venice is a privacy-first generative-AI platform on Base; users and developers pay subscriptions/API fees for uncensored inference, staking VVV grants a pro-rata share of daily inference capacity (DIEM), and part of platform revenue buys VVV on Aerodrome and burns it.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [], "rank": 9 }, { "base": "WIF", "products": { "spot": { "symbol": "WIFUSDT", "stage": 2, "rank": 118, "close": 0.2318 }, "futures": { "symbol": "WIFUSDT", "stage": 2, "rank": 85, "close": 0.2317 } }, "status": "red_line", "red_lines": [ "R4" ], "audit": null, "scores": { "A": 0, "B": 1.0, "C": 0.5, "D": 3, "E": 0 }, "total": 8.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 225070695, "fdv": 225070695, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": "dogwifcoin" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "WIF 是 Solana 上的'戴帽子的狗'meme 币：没有产品、没有收入、没有人为任何服务付钱，价值完全来自投机与文化传播。", "one_sentence_en": "WIF is the 'dog with a hat' meme coin on Solana: no product, no revenue, nobody pays for anything; value is purely speculative/cultural.", "confidence": "high", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "WLD", "products": { "spot": { "symbol": "WLDUSDT", "stage": 2, "rank": 13, "close": 0.5209 }, "futures": { "symbol": "WLDUSDT", "stage": 2, "rank": 16, "close": 0.5206 } }, "status": "red_line", "red_lines": [ "R1" ], "audit": null, "scores": { "A": 2, "B": 5.0, "C": 3.0, "D": 0.0, "E": 0 }, "total": 21.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 1972624711, "fdv": 5187697882, "fdv_mc": 2.62984532895269, "fees30": 23021.0, "rev30": 0.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 1.1515175960471917, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.125, "mechanism": false, "llama": [ "World Chain" ], "gecko_id": "worldcoin-wld" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "World 是用虹膜扫描 Orb 发放'人类证明'身份（World ID）并配套钱包 World App 的网络，WLD 是其治理/支付代币；目前没有人为 World ID 付钱，运营靠基金会卖币（2026-03 卖出 2.39 亿 WLD 换 $65M）。", "one_sentence_en": "World issues proof-of-human identities (World ID) via iris-scanning Orbs with a companion wallet (World App); WLD is its governance/payments token, but nobody currently pays for World ID and operations are funded by foundation token sales (239M WLD sold for $65M in Mar 2026).", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [] }, { "base": "XLM", "products": { "spot": { "symbol": "XLMUSDT", "stage": 2, "rank": 24, "close": 0.2005 }, "futures": { "symbol": "XLMUSDT", "stage": 2, "rank": 36, "close": 0.20023 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 5.0, "C": 1.8, "D": 2, "E": 0 }, "total": 23.7, "capped": false, "no_revenue": true, "metrics": { "market_cap": 6955685717, "fdv": 9925478857, "fdv_mc": 1.4269590750401064, "fees30": 47292.0, "rev30": 47292.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 1.3289965051334256, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": null, "mechanism": false, "llama": [ "Stellar" ], "gecko_id": "stellar" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Stellar 是面向支付与资产代币化的公链，用户每笔交易付极少量 XLM 手续费（进入锁定账户、不分配给任何人），网络由 Stellar 发展基金会（SDF）主导并持有大量 XLM；持币人不获得任何收入。", "one_sentence_en": "Stellar is a payments/tokenization L1; users pay tiny XLM fees per transaction that go into a locked account (distributed to no one), the network is steered by the SDF which holds a large XLM treasury, and holders receive no revenue.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [], "rank": 43 }, { "base": "XMR", "products": { "futures": { "symbol": "XMRUSDT", "stage": 2, "rank": 59, "close": 554.26 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 8.0, "C": 3.5, "D": 3, "E": 0 }, "total": 34.2, "capped": false, "no_revenue": true, "metrics": { "market_cap": 10510203821, "fdv": 10510222590, "fdv_mc": 1.0000017857883938, "fees30": 114412.0, "rev30": 0.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 1.2174821431424874, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [ "Monero" ], "gecko_id": "monero" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Monero 是默认隐私的 PoW 加密货币，用户为匿名转账付极低矿工费（约 $0.001/笔）给 CPU 矿工，XMR 本身是货币而非分红资产。", "one_sentence_en": "Monero is a privacy-by-default PoW cryptocurrency; users pay tiny miner fees (~$0.001/tx) to CPU miners for untraceable transfers, and XMR is money rather than a cash-flow asset.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 32 }, { "base": "XPL", "products": { "spot": { "symbol": "XPLUSDT", "stage": 1, "rank": 37, "close": 0.08764 }, "futures": { "symbol": "XPLUSDT", "stage": 1, "rank": 47, "close": 0.08754 } }, "status": "red_line", "red_lines": [ "R3" ], "audit": null, "scores": { "A": 4, "B": 3.5, "C": 2.0, "D": 4, "E": 5 }, "total": 37.0, "capped": false, "no_revenue": false, "metrics": { "market_cap": 390574092, "fdv": 861560498, "fdv_mc": 2.2058823553509024, "fees30": 17999.0, "rev30": 17999.0, "hr30": 17999.0, "hr90": 35803.0, "hr_prev90": 9130.61, "hr_ann": 145201.05555555556, "holder_yield": 0.00037176315206169787, "quarters": 5, "fee_growth": 3.921205702576279, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": 2689.884660312004, "pe_median_1y": 2439.842276057094, "accel": 3.921205702576279, "davis": "accel", "unlock_12m": 0.37, "mechanism": true, "llama": [ "Plasma" ], "gecko_id": "plasma" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Plasma 是为稳定币支付定制的 EVM L1：USDT 转账零手续费（协议补贴），其他交易付 XPL gas 且 base fee 永久销毁；XPL 用于验证者质押与奖励（5%→3% 年通胀）。", "one_sentence_en": "Plasma is a stablecoin-payments EVM L1: USDT transfers are free (subsidized), other transactions pay XPL gas with base fees burned; XPL secures the PoS network with 5%→3% inflation.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [] }, { "base": "XRP", "products": { "spot": { "symbol": "XRPUSDT", "stage": 1, "rank": 5, "close": 1.4215 }, "futures": { "symbol": "XRPUSDT", "stage": 1, "rank": 5, "close": 1.4204 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 4.5, "C": 2.5, "D": 1, "E": 0 }, "total": 21.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 88557584578, "fdv": 140340255138, "fdv_mc": 1.5847344505471546, "fees30": 35250.0, "rev30": 35250.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 1.252898020701731, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.077, "mechanism": true, "llama": [ "XRPL" ], "gecko_id": "ripple" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "XRP 是 XRP Ledger 的原生资产，用于支付结算与跨境流动性桥接，交易发送方为每笔交易销毁约 10 drops（0.00001 XRP）手续费，Ripple 公司持有并按月从托管释放大量 XRP。", "one_sentence_en": "XRP is the native asset of the XRP Ledger used for payments/settlement; senders burn ~10 drops per transaction as fee, and Ripple holds and releases large amounts monthly from escrow.", "confidence": "medium", "_file": "2026-10-08.json" }, "notes": [], "rank": 47 }, { "base": "ZAMA", "products": { "spot": { "symbol": "ZAMAUSDT", "stage": 2, "rank": 58, "close": 0.07689 }, "futures": { "symbol": "ZAMAUSDT", "stage": 2, "rank": 75, "close": 0.0768 } }, "status": "red_line", "red_lines": [ "R3" ], "audit": null, "scores": { "A": 0, "B": 4.5, "C": 1.5, "D": 0.0, "E": 0 }, "total": 11.2, "capped": false, "no_revenue": true, "metrics": { "market_cap": 192792729, "fdv": 859088736, "fdv_mc": 4.456022488275479, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.6, "mechanism": null, "llama": [], "gecko_id": "zama" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Zama 是全同态加密（FHE）保密计算协议，dApp 为加密/解密/协处理服务以 ZAMA（按美元计价）付费且 100% 销毁，运营者与质押者靠每年约 5% 的增发获酬；代币 2026-02 上线，目前未找到任何可核的付费用量。", "one_sentence_en": "Zama is an FHE confidential-compute protocol: dApps pay ZAMA (USD-priced) for encryption/decryption/coprocessing with 100% of fees burned, while operators and stakers are paid from ~5% annual emissions; the token launched Feb 2026 and no verifiable paid usage was found.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "ZEC", "products": { "spot": { "symbol": "ZECUSDT", "stage": 2, "rank": 3, "close": 1327.98 }, "futures": { "symbol": "ZECUSDT", "stage": 2, "rank": 3, "close": 1326.94 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 2, "B": 6.5, "C": 3.25, "D": 3, "E": 0 }, "total": 30.9, "capped": false, "no_revenue": true, "metrics": { "market_cap": 21069206887, "fdv": 21070337638, "fdv_mc": 1.0000536684178984, "fees30": 136571.0, "rev30": 0.0, "hr30": 0.0, "hr90": 0.0, "hr_prev90": 0.0, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": 0, "fee_growth": 2.0006003547550826, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": false, "llama": [ "Zcash" ], "gecko_id": "zcash" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Zcash 是零知识证明驱动的隐私支付链，用户为屏蔽交易付矿工费，持有 ZEC 的理由是把它当作可私密转移的数字货币；区块奖励 80% 给矿工、12% 进协议级 Lockbox、8% 给社区资助。", "one_sentence_en": "Zcash is a zk-proof privacy payments chain; users pay miner fees for shielded transactions and hold ZEC as privately transferable digital money; block subsidy goes 80% to miners, 12% to a protocol-level Lockbox and 8% to community grants.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [], "rank": 35 }, { "base": "ZEN", "products": { "spot": { "symbol": "ZENUSDT", "stage": 2, "rank": 79, "close": 6.685 }, "futures": { "symbol": "ZENUSDT", "stage": 2, "rank": 101, "close": 6.679 } }, "status": "ok", "red_lines": [], "audit": null, "scores": { "A": 0, "B": 3.5, "C": 1.0, "D": 2, "E": 0 }, "total": 12.5, "capped": false, "no_revenue": true, "metrics": { "market_cap": 121627618, "fdv": 138765443, "fdv_mc": 1.14090405848448, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.05, "mechanism": null, "llama": [], "gecko_id": "zencash" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "Horizen 2.0 是 2025-07 迁移到 Base 上的隐私 L3 应用链（gas 用 ETH），ZEN 变为 ERC-20 治理与质押代币，计划让 dApp 为 zk 验证/私密计算预编译付费，但目前没有可核实的付费与收入。", "one_sentence_en": "Horizen 2.0 is a privacy-focused L3 appchain migrated to Base in July 2025 (gas paid in ETH); ZEN became an ERC-20 governance/staking token meant to be paid for zk-verification and private-compute precompiles, but there is no verifiable paying volume or revenue yet.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ], "rank": 74 }, { "base": "币安人生", "products": { "spot": { "symbol": "币安人生USDT", "stage": 2, "rank": 172, "close": 0.4802 } }, "status": "red_line", "red_lines": [ "R4" ], "audit": null, "scores": { "A": 0, "B": 1.0, "C": 0.5, "D": 3, "E": 0 }, "total": 8.8, "capped": false, "no_revenue": true, "metrics": { "market_cap": 482460084, "fdv": 482460084, "fdv_mc": 1.0, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": 0.0, "mechanism": null, "llama": [], "gecko_id": "bianrensheng" }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "币安人生是 2025-10 在 BNB Chain（Four.meme 生态）诞生的中文 meme 币，玩'过上币安人生'的梗：无产品、无收入、无团队、无治理，10 亿枚上线即全流通，没有人为任何服务付钱。", "one_sentence_en": "BinanceLife is a Chinese meme coin launched Oct 2025 on BNB Chain (Four.meme ecosystem) riffing on 'living the Binance life': no product, no revenue, no team, no governance; 1B supply fully circulating at launch; nobody pays for anything.", "confidence": "high", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] }, { "base": "我踏马来了", "products": { "futures": { "symbol": "我踏马来了USDT", "stage": 2, "rank": 199, "close": 0.011618 } }, "status": "red_line", "red_lines": [ "R4" ], "audit": null, "scores": { "A": 0, "B": 0.5, "C": 0.25, "D": 1, "E": 0 }, "total": 3.4, "capped": false, "no_revenue": true, "metrics": { "market_cap": null, "fdv": null, "fdv_mc": null, "fees30": null, "rev30": null, "hr30": null, "hr90": null, "hr_prev90": null, "hr_ann": 0.0, "holder_yield": 0.0, "quarters": null, "fee_growth": null, "tvl_growth": null, "tvl_now": null, "tvl_days": 0, "pe": null, "pe_median_1y": null, "accel": null, "davis": "none", "unlock_12m": null, "mechanism": null, "llama": [], "gecko_id": null }, "review": { "review_date": "2026-10-08", "model_id": "claude-fable-5-1", "logic_version": "value_v1", "prompt_sha256": "58434c62f807c2035cf603f7f93e6e22db880e9f4172968767efef7d1f326065", "one_sentence_zh": "我踏马来了 是 2026 年初在 BNB 链出现的中文谐音梗（'我他妈来了'）马年主题 meme 币，标准 BEP-20，没有产品、没有收入，没有人为它付钱。", "one_sentence_en": "我踏马来了 (WTML) is a Chinese-slang, horse-themed meme coin on BNB Chain that appeared in early 2026; a plain BEP-20 with no product, no revenue, and nobody paying for anything.", "confidence": "low", "_file": "2026-10-08.json" }, "notes": [ "R1 不适用：量化层无收入数据（按 A=0 处理，不落选）" ] } ], "davis_share": 0.041666666666666664, "accel_distribution": [ [ "XPL", 3.921205702576279 ], [ "ORCA", 3.3811124358593525 ], [ "RAY", 3.263337483307816 ], [ "SKY", 2.9132348394136445 ], [ "MON", 2.8754844606364784 ], [ "VVV", 2.7973289135221027 ], [ "NEAR", 2.2630216290785796 ], [ "UNI", 2.2351404496536182 ], [ "AVAX", 1.9754940421141898 ], [ "RENDER", 1.834235304841612 ], [ "CAKE", 1.6416920990809447 ], [ "BNB", 1.6177878186360182 ], [ "AERO", 1.5172996770542935 ], [ "SOL", 1.4352671863058 ], [ "PUMP", 1.3928241460226864 ], [ "SPK", 1.3795773807748517 ], [ "HYPE", 1.1985844641850363 ], [ "JUP", 1.1683209335377707 ], [ "RUNE", 1.0757766175967134 ], [ "LIT", 1.0419730466948218 ], [ "ALGO", 0.9913573000733676 ], [ "SUI", 0.9831041119860018 ], [ "LINK", 0.8980225996042946 ], [ "ICP", 0.8976602251813359 ], [ "TRX", 0.8639724898192013 ], [ "INJ", 0.8165200025554812 ], [ "DODO", 0.7733889360940924 ], [ "CRV", 0.7523090904306888 ], [ "LDO", 0.7521281465666432 ], [ "ETH", 0.6190236008869735 ], [ "PENDLE", 0.4865097426255126 ], [ "MET", 0.39064107363015044 ], [ "SUSHI", 0.36796678090264556 ] ], "forward_rows_total": 0 }