SX #36 - SX Research Report Released
𧎠AltFi Capital estimates $1.88 fair value for SX
AltFi Capital is a crypto hedge fund that has invested in SX Network. This week, they initiated coverage on SX with a highly detailed research report that covers everything that is happening in the SX ecosystem. Some of the key takeaways from their report:
SX Network is the worldâs largest blockchain prediction market ecosystem with over $220M in cumulative bet volume generating +$4M in protocol revenue attributable to token holders since inception.
$4M in cumulative protocol revenue places SX Network ahead of multi-billion dollar chains including Polkadot ($8.3B), Cosmos ($3.7B) and NEAR ($3.4B).
The SX Bet dApp (the leading dApp on the SX Network) has grown at an annualized rate of ~900% from Q220â to Q222â and is conservatively forecast to generate ~$298M in FY2022 volume translating into $6M in annualized protocol revenue. (1)
At the current $25M non-community market cap (2), this represents a 4.2x P/E ratio. At the fully-diluted $85M non-community market cap, SX Networkâs P/E ratio of 14.3x is sub the S&P average of 21.5x.(3)
In April 2022, the SX team announced a completed raise of $9.5M, led by crypto venture fund HackVC â the project is well capitalized to execute its product roadmap.
The AltFi report estimates a $1.88 fair value price target on SX based on their discounted cash flow and comps analysis. We highly recommend checking out the full report and subscribing to their newsletter.
đ° SX Network integrated on DappRadar!
DappRadar has officially integrated SX Network and its ecosystem of dapps. Over one million monthly users on DappRadar can now discover and analyze all types of dapps through SX Rankings. Whatâs more, DappRadar provides users with an intuitive view of each SX dappâs metrics, including user volume, transaction volume, and historical performance. DappRadar is the worldâs largest Dapp tracking site and widely considered the most trusted source for exploring dapp data.
In conjunction with the listing, Dapp Radar has launched a marketing campaign and educational content series about SX Network. This will continue to increase exposure of SX Network to the crypto native public.
đď¸ Introducing Episode 1 of the SX Podcast!
Co-founder and Project Lead, Andrew Young, is joined by Coach Cryptos as they discuss a variety of SX Network topics. These topics include:
đ The mission behind SX
đ SharkSwap farming tips
âď¸ SXâs multi-chain plan
đ How SX plans to go mainstream
đ Future SX Merge?
And much, much more!
About SXÂ Network
SX Network combines smart contracts with an on-chain treasury and prediction market protocol. SX Network is perfect for developers with EVM-compatibility, low-cost transactions, and PoS-based consensus. SX.Bet is the #1 prediction market dapp by betting volume across all chains. All bets are peer-to-peer and settled on-chain. SX.Bet has processed +$230,000,000 in betting volume.
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