Messari believes that Yearn.Finance’s YFI token is among the least costly within the DeFi area, in accordance with its price-to-sales a number of. The metric is calculated by dividing a token’s market capitalization by its annualized yield. In YFI’s case, its capitalization on the time of calculation was $390 million. In keeping with Messari, its annualized gross sales stood at $21 million. Dividing the 2 numbers, we get roughly 20x. For reference, the identical ratio for CRV, one other well-liked DeFi token, is 1568x, making it 78 instances costlier in accordance with this ratio.
DeFi Value-to-sales multiples. Supply: Messsari.
Messari famous that in contrast to a lot of its opponents, Yield.Finance doesn’t presently have any vital bills, primarily turning its price-to-sales ratio into price-to-earnings, or PE. It ought to be famous that at a present worth of $13,300, YFI is value virtually 15% greater than Bitcoin (BTC).