(As of 04/20/24)

Tl;dr

Current projected revenue is $1.5M/year; all this growth was in stealth mode and we only fully opened up the product in mid-Feb 2024!

• $80M in cumulative trading volume since launch (~8 weeks). Projecting ~$1.2M/year in revenue at status quo ($40M/month volume, 25bps take rate)
• $25M in yield AUM since launch. Projecting ~$250k/year in revenue at status quo (customers earning 10% yield, 10% take rate)

Growth has been promising, and we are averaging ~$1.5M/day in volume over the last 2 weeks, which extrapolates out to $45M/month and ~$1.35M/year in revenue (from just trading). With more chains like Solana, marketing, token, and the right partners we expect this to 10x in a year!

Initial Traction

• We launched publicly in November 2023 with our Automated Yield product, followed by Definitive API and Advanced Trading products.
• We initially gated onboard to an access code to preserve exclusivity and grew to ~6K unique users, including individual crypto traders/farmers, liquid funds, family offices, and DAOs. More on how these users use Definitive (here).
  • Our validation process ensures these are genuine users and not bots, and a controlled rollout helped us iterate and refine our product
• We then partnered with protocols integrated into Definitive (such as Moonwell, BENQI, and Stargate) to promote Definitive within their communities.
  • We now have a backlog of over 50+ protocols eager to partner with us with many that include incentivized integration (grants).
• Growth has been been organic and product-led. No incentives. No points.

Assuming users earn 10% yield, 10% take rate | | Advanced Trading | Feb 24’ | Prosumers & Crypto Institutions (Liquid Funds, DAO’s, Family Offices, etc..) | % of Volume | 0.25-0.50% | $80M+ Cumulative Volume in 8 weeks | $1.2M/year

Assuming $40M/month volume, .25% take rate | | Definitive API | Dec 23’ | Wallets, Aggregators, Custodians | Revenue Share | 40-60% | 2 integrations live w/ 20+ clients in pipeline | NA |

*Metrics as of April 1st 2024

Advanced Trading (as of 04/25)

$80M in cumulative trading volume since launch. Projecting ~$1.2M/year in revenue at status quo ($40M/month volume, 25bps take rate).

Averaging ~$1.5M/day in volume over last 2 weeks, which extrapolated out is $45M/month, and ~$1.35M/year in revenue.