Some Alpha? Here is an undervaluation on top of an undervaluation. Let’s dig in: $FXN has c. 440k circulating supply at a token price of c. $28 implying a market capitalization of approximately $12m. Aladdin DAO $ALD owns 30% of the total FXN supply and 30% of all future FXN emissions, resulting in no dilution of its ownership over time. At current prices, this FXN position alone is worth roughly $3.7m for ALD. In addition to FXN exposure, the DAO owns 30% stakes in Concentrator worth c. $100k and Clever worth c. $200k. ALD itself is valued at approximately $3.9m which is worth less than just their asset holdings of c. $4m. The market has not yet priced in the structural value of owning a perpetual, non dilutive 30% stake in FXN at a c. $33m fully diluted valuation, nor the embedded optionality from continuous product launches where ALD retains the same ownership share. Further catalysts going forward: launch of @FX100Perp with value directly accruing towards ALD or indirectly through FXN (@pauls1 please jump in) and starting the revenue share towards ALD holders. This represents in my opinion a clear value opportunity on top of a value opportunity. See my pinned FXN analysis. Not financial advice Tagging the community: @CryptoISFreedom @MetaCvx @rektdiomedes @Ikebillion_ @crypto_linn @protocol_fx @aladdindao @kmets_