Vibe researching certainly would make my job easier, yet I still do it the old fashioned way. I’ve been covering crypto professionally since 2020. I have a fundamental framework I use to value cryptocurrencies, which was applied here. It centers on the competitive angles, risks, and tokenomics. Had calls with the team at Chainlink to address areas where i found gaps in process. I also think we fairly addressed the issue you bring up: LINK holders do not receive direct cash flows, so revenue growth may not translate directly into LINK appreciation. This is a common risk of many cryptocurrencies. Our base case was demand for chainlink grows in-line with the broader crypto market. 2020/2021 will always be an overhang in the short term for many cryptocurrencies because the price rises were based on no fundamentals whatsoever. With institutions starting to use blockchains, fundamentals matter more going forward.

If you ask around this space what the most successful retail scam project is, I’ll answer very quickly: it’s Chainlink. After more than 3 years of operation, their fee revenue still averages only around $500 a day. Haven’t they integrated thousands of projects since 2020? It’s all just marketing, and there’s no real demand from the partners. The $LINK token has been dropping in price since 2020, and you still believe them?