The proposed holding item is $APT (real value: $0.575/token Aptos) $(data as of June 2026 from DefiLlama & CoinGecko).
Components of the real value per token (APT)
True cash flow portion (DCF revenue): ~$0.008 - $0.012 (depending on the scenario) — profits from fees going to holders (most fees are burned or have limited distribution).
Protective value portion (α × TVL): ~$0.575 — the α coefficient = 1.5× protective chain assets.
Estimated real value per token: ~$0.583 - $0.587 (primarily from protective TVL value, DCF accounts for a small ratio).
Parameters currently used (updated)
Valuation basis: revenue ≈ $1.5M - $2.1M/year (annualized from the latest data from DefiLlama: App Revenue ~$20k-36k/day, Chain REV lower).7c4554
Discount rate: 30%/year (kept constant, suitable for L1 risk).
First 5-year growth: 15-20%/year (slightly adjusted down based on recent data and stablecoin/RWA growth).
Mid 5-year growth: 8%/year (kept constant).
Long-term growth: 3.0%/year (kept constant).
TVL (protective chain assets): ~$0.46B (DefiLlama current ~$460M, fluctuating $218M-$500M depending on the phase).e94a37
α coefficient (protective value): 1.50× (kept constant, reflects the protective asset value on chain).
Number of tokens (basis): 1,203M - 1,204M (total supply / FDV from CoinGecko).d666c8
Update explanation & calculations
DCF Revenue (True cash flow portion):
Current chain revenue is low (mostly burn fees), App Revenue is higher but the share for holders is limited.#APT
Using a base of ~$1.5-2M/year annualized → after discount + growth → DCF/token value increases slightly compared to the old $0.0067.
Protective value (α × TVL):
Updated TVL ~$460M (up from the old $0.27B).
α = 1.5× → Total protective value ≈ $690M.
Dividing by ~1.203B tokens → ~$0.575/token.
Note:
The real value mainly comes from TVL + RWA/Stableco#
Components of the real value per token (APT)
True cash flow portion (DCF revenue): ~$0.008 - $0.012 (depending on the scenario) — profits from fees going to holders (most fees are burned or have limited distribution).
Protective value portion (α × TVL): ~$0.575 — the α coefficient = 1.5× protective chain assets.
Estimated real value per token: ~$0.583 - $0.587 (primarily from protective TVL value, DCF accounts for a small ratio).
Parameters currently used (updated)
Valuation basis: revenue ≈ $1.5M - $2.1M/year (annualized from the latest data from DefiLlama: App Revenue ~$20k-36k/day, Chain REV lower).7c4554
Discount rate: 30%/year (kept constant, suitable for L1 risk).
First 5-year growth: 15-20%/year (slightly adjusted down based on recent data and stablecoin/RWA growth).
Mid 5-year growth: 8%/year (kept constant).
Long-term growth: 3.0%/year (kept constant).
TVL (protective chain assets): ~$0.46B (DefiLlama current ~$460M, fluctuating $218M-$500M depending on the phase).e94a37
α coefficient (protective value): 1.50× (kept constant, reflects the protective asset value on chain).
Number of tokens (basis): 1,203M - 1,204M (total supply / FDV from CoinGecko).d666c8
Update explanation & calculations
DCF Revenue (True cash flow portion):
Current chain revenue is low (mostly burn fees), App Revenue is higher but the share for holders is limited.#APT
Using a base of ~$1.5-2M/year annualized → after discount + growth → DCF/token value increases slightly compared to the old $0.0067.
Protective value (α × TVL):
Updated TVL ~$460M (up from the old $0.27B).
α = 1.5× → Total protective value ≈ $690M.
Dividing by ~1.203B tokens → ~$0.575/token.
Note:
The real value mainly comes from TVL + RWA/Stableco#