📊 In-depth Recommendation of On-Chain Data Tools · How to Use Token Terminal? Token Terminal is one of the best free tools for analyzing protocol fundamentals. 📊 Core Functions ① Protocol Revenue Ranking · Real-time display of protocol fee revenue · Differentiates between "Total Fees" and "Net Protocol Revenue" (after deducting LP commissions) · View trends by day/week/month/year ② P/S Ratio (Price/Sales) · Similar to the P/E ratio in the stock market, but used for valuing crypto protocols · Very valuable for horizontal comparisons with similar protocols ③ TVL Trend · Changes in the amount of funds locked in the protocol · Decreasing TVL but unchanged revenue → Improved capital utilization efficiency, which is a good thing ④ Token Incentive Analysis · Differentiates between "real fees" and "token incentives" · Helps determine the true sustainability of a protocol 💡 Example of Use Search for the "DEX" category in Token Terminal, compare the revenue trends and P/S ratios of Uniswap / Curve / Raydium, and you can quickly determine which protocol is "cheaper" or "more expensive". For reference only, not investment advice. #TokenTerminal #DeFi #Fundamentals #Tools #Binance