Holder Revenue Value

Thesis

Coins that pay holders a lot relative to their market value tend to be underpriced; owning the best three captures that.

Strategy

• Weekly ranking: Each week it ranks coins by the last 30 days of revenue paid to holders divided by market value. • Hold the top three: It goes long the top 3 that trade on Hyperliquid, splitting your money evenly, and sells any that drop out.

Exposure

• Holds: 3 coin long positions — Equal-sized bets that the top 3 revenue-per-value coins go up. • Venue: Hyperliquid — Your USDC sits in your Hyperliquid account and trades there. • Leverage: None — Each position is worth its share of your money, at 1x. • Costs: Trading fees, funding — Hyperliquid trading fees when it buys or sells, plus periodic funding payments. • Data: Circuit — Holder revenue, market values and Hyperliquid markets all come from Circuit. • On unwind: USDC on Hyperliquid — Closing the positions returns USDC to your Hyperliquid account.