LABtrade’s token launches tomorrow with listing on Binance Alpha. Their trading terminal is live with 3.5M revenue in the first 3 months. That translates to ~1.17M monthly run rate, fully consistent with its 0.5% fee model (verified PMF before token incentives even begin). 80% of protocol revenue is allocated to buybacks and burn. Further, at 200M in monthly volume (the current baseline), that’s ~1M monthly revenue and ~800K in buybacks: roughly 10% annual supply burn at 0.10 per token. Good thesis from @stacy_muur below on @LABtrade_.(Route 2 FI)