ABCDEFGHIJKLMNOPQRSTUVWXYZAAABACADAEAFAGAHAIAJAK
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Hyperliquid
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Year 0Year 1Year 2Year 3Year 4Year 5Year 6Year 7Year 8Year 9Year 10Year 11Year 12Year 13Year 14Year 15
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ADTV$8,000$16,000$32,000$8,000$12,000$24,000$48,000$12,000$18,000$36,000$72,000$18,000$27,000$54,000$108,000$162,000
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(x) Fees0.026%0.026%0.026%0.026%0.026%0.026%0.026%0.026%0.026%0.026%0.026%0.026%0.026%0.026%0.026%0.026%
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Annual Revenue$750$1,501$3,002$750$1,126$2,251$4,503$1,126$1,688$3,377$6,754$1,688$2,533$5,065$10,131$15,196
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(x) Multiple21x15x
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Market Cap$15,468$234,924
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Dilution-Affected$15,468$156,616
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IRR24%
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Helium
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Year 0Year 1Year 2Year 3Year 4Year 5Year 6Year 7Year 8Year 9Year 10Year 11Year 12Year 13Year 14Year 15
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GBs per Day33,00066,000132,000132,000237,600427,680769,824769,8241,231,7181,970,7493,153,1993,153,1994,414,4796,180,2708,652,37812,113,330
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(x) $ per GB$0.50$0.45$0.40$0.35$0.30$0.25$0.20$0.15$0.15$0.15$0.15$0.15$0.15$0.15$0.15$0.15
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Annual Revenue$6$11$19$17$26$39$56$42$67$108$173$173$242$338$474$663
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(x) Multiple89x15x
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Market Cap$538$10,253
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Dilution-Affected$538$6,835
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IRR23%
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$9$13$9$11$14$16$10$13$16$21$17$20$22$25
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4%6%4%5%6%7%5%6%8%10%8%9%10%12%
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Growth
Yr 0Yr 1Yr 2Yr 3Yr 4Yr 5Yr 6Yr 7Yr 8Yr 9Yr 10Yr 11Yr 12Yr 13Yr 14Yr 15
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Hyperliquid--100%100%-75%50%100%100%-75%50%100%100%-75%50%100%100%50%
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Helium--100%100%0%80%80%80%0%60%60%60%0%40%40%40%40%
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