Gains Network is valued at 6x revenue, and GMX is also at 10x revenue, with both projects maintaining quarterly revenues of around $3 million. However, their mechanisms differ significantly—GNS burned 1 million tokens over 40 days last month as part of a deflationary strategy; in contrast, GMX continues to inflate. In terms of project scale, a $30.8 million market cap has processed over $10 billion in cumulative trading volume, supporting 290+ trading pairs, and has developed independently without VC backing. This data combination is quite interesting: the market has ample liquidity and ecosystem depth, yet it seems the market has not fully absorbed this value system. The choice of token economics often determines the expectations of long-term holders—deflationary mechanisms are generally more favored by the market, but this is not fully reflected in the valuation.