nest NEST

Sell signal activeRank#10▼3Score53

Sell signal since Nov 11. REV7 fell to 0.6× of the previous week; REV ratio 0.6×, HR ratio 0.6×. Still open: weekly revenue drop still holds. See Signals.

Dexs, Hyperliquid L1, 192 days of data

Active signals 3

Sell signalsince Nov 11
Revenue this week $226k, 63% of the week before.
Weekly revenue drop: revenue this week $226k, 0.6× the week before, paid to holders 0.6× the week before. Still open: weekly revenue drop still holds.
New in top 20held since Oct 30
Ranked #10 on Nov 11, down from #7 the day before.
Multiple below mediansince Oct 30
Multiple 0.8×, below the 19.5× median of Dexs (13 tokens).

Market cap

$4.4M

price $0.0146 · 7d −43.6% · 30d −2.7%

FDV $28.1M (6.4× market cap)

source defillama

Counted per year

$5.3M

holders revenue of the last 30 days, $869k, × 365 ÷ 30, × type factor 0.5 (payouts count 50%)

Distributionbuyback share 100%

Pays out 239% of its market cap a year, using 100¢ of every $1 it earns.

Not a buyback: counts for 50% in the multiple (type factor 0.5), so the denominator is $5.3M instead of $10.6M.

Multiple

0.8×

peer median 19.5× (Dexs, 13 tokens), against 0.8× here

Run-rate

0.8×

last 7 days $226k × 52 × 0.5 (type factor) = $5.9M a year

last week's payout in line with the 30-day pace

What we checked

Valuation
Multiple 0.8× (type factor 0.5: payouts count 50%), 23.3× cheaper than its Dexs peers (median 19.5×, 13 tokens). The group's largest earner Uniswap trades at 37.3×: 44.7× cheaper per dollar returned to holders. On total revenue: 0.4×, 40.4× cheaper than the revenue peer median.
Distribution
Distribution: Revenue is paid out to stakers or holders (often in another asset); no buy pressure on the token. Holders got $869k of $869k revenue in 30 days → buyback share 100%. DefiLlama: “Swap Fees to veNest lockers: Portion of swap fees going to the veNest lockers.”
Sustainability
Holders were paid on 29 of 30 days (97%); largest single day 13% of the month's holders revenue; paid to holders this week: 63% of the best week in 90 days. Revenue −37% over 7 days and +32% over 30 days, price −3% over 30 days.

What this does not tell you

The figures come from DefiLlama's adapter for each child protocol. Only a few tokens have an on-chain check (see How the buyback really works); for the rest, whether the tokens were really bought, burned or parked in a treasury wallet is not checked here. Unlocks count where DefiLlama or our research has a vesting schedule; team discretion and liquidity depth only once researched.

Flags

Sell signalactive since Nov 11; REV7 fell to 0.6× of the previous week; REV ratio 0.6×, HR ratio 0.6×. Still open: weekly revenue drop still holds. See Signals

How the buyback really works

Not researched yet. Everything above comes from DefiLlama and market data only.

Holders revenue / revenue (30d): $869k / $869k; last 30 closed days
To holders: Pays out 239% of its market cap a year
FDV / dilution: $28.1M / 6.4×; FDV ÷ market cap
Price 7d / 30d: −43.6% / −2.7%
Revenue growth 7d / 30d: −37% / +32%; versus the period before
Divergence: 0.31; revenue growth minus price growth, 30d
DEX liquidity: $1.4M; DexScreener, representative pools
24h volume: $128k; all markets, CoinGecko
Unlocks 30d: —; DefiLlama's schedule does not cover the next 30 days while tokens are still locked
Revenue multiple: 0.4×; market cap ÷ revenue per year
Fee multiple: 0.4×; market cap ÷ fees per year
Distance to peak: 63%; this week ÷ best week of 90 days
Data since: May 4; first day with holders revenue

Holders revenue and price

Holders revenue per day7-day averagePrice (right axis)▲ ▼ signal days (history below)

Multiple over time

today 0.8× (scored) · peer median 19.5×

Market cap at close ÷ (holders revenue of the previous 30 days × 365 ÷ 30), with holders revenue capped at revenue and × the type factor: the same effective multiple as the peer median. Values above 100× are drawn at the top. Bands as on the meter; dashed line = peer median today.

Signal history

Signal history of this token: date, type, price at the signal, price after 7 and 30 days, change since the signal and the outcome
Date	Signal	Price then	After 7d	After 30d	Since	Outcome
November 12, 2026	Sell signalactive	$0.0147	—	—	−1%	30-day check: day 0
October 30, 2026	New in top 20active	$0.0203	+14%	—	−28%	not counted
October 31, 2026	Multiple below medianactive	$0.0203	+14%	—	−28%	30-day check: day 11
October 31, 2026	Revenue jumpclosed Nov 6: the condition no longer holds	$0.0203	+14%	—	−28%	30-day check: day 11

Versus peers

Dexs · 13 tokens · median multiple 19.5× · Uniswap is valued 839.4× higher. Per dollar that counts for holders, nest is 44.7× cheaper.

Main-ranking peers only. Multiples count holders revenue capped at revenue, × the type factor (buyback 1 · buyback + burn 1 · burn 0.75 · mixed 0.75 · distribution 0.5 · unclear 0.5 · ve-distribution 0.25).

This token against its main-ranking peers: multiple, revenue multiple, buyback share, holders revenue, market cap and revenue growth
Token	Distribution	Multiple	Revenue multiple	Buyback share	To holders 30d	Market cap	Rev. growth 30d
Pharaoh Exchange	ve / bribes	0.3×	0.2×	100%	$1.3M	$2.6M	−52%
RamsesX	Mixed	0.7×	0.5×	97%	$368k	$2.2M	+8%
nestthis token	Distribution	0.8×	0.4×	100%	$869k	$4.4M	+32%
up	ve / bribes	2.0×	1.0×	100%	$313k	$3.9M	−68%
Chainflip	Buyback + burn	5.4×	5.4×	100%	$520k	$34.4M	+59%
Aero	ve / bribes	8.7×	4.0×	96%	$7.4M	$372.0M	−6%
PancakeSwap	Buyback + burn	19.5×	12.8×	65%	$2.4M	$563.6M	−29%
Raydium	Buyback	27.1×	16.8×	62%	$1.3M	$425.4M	−65%
Curve Finance	ve / bribes	29.3×	11.1×	94%	$2.6M	$374.4M	+44%
Uniswapleader	Buyback + burn	37.3×	37.3×	100%	$8.2M	$3.71B	−20%
Orca	Buyback	47.8×	7.9×	16%	$130k	$75.6M	−36%
Aster	Buyback + burn	50.2×	∞	—	$2.8M	$1.69B	—
Meteora	Distribution	180×	5.2×	18%	$458k	$161.9M	−60%

Score build-up53 of 100

Total score = 35% valuation + 25% momentum + 20% divergence + 20% quality − penalties, clamped to 0–100. Every number here can be recomputed from the figures on this page.

53of 100#10▼3top 18%

Valuation 35.0Momentum 6.6Divergence 4.1Quality 17.3penalties −10= 53.0

Valuation35%

100Valuation 100.0: HR half 100.0 (multiple 0.84×; 100 at ≤3×, 0 at ≥100×, log scale), revenue half 100.0 (revenue peer value 40.41×; 0 at ≤0.33×, 50 at 1×, 100 at ≥3×, log scale).Average of two halves. HR half: linear in log(multiple), 100 at ≤ 3×, 0 at ≥ 100×, 0 without effective HR. Revenue half: linear in log(revenue peer value), 0 at ≤ 0.33×, 50 at 1×, 100 at ≥ 3×; neutral 50 when the peer group falls back to the universe.

Momentum25%

27Momentum 26.5: m = 0.5·g7 −0.458 + 0.3·(ln(day jump 0.60) clamped ±1.5 = −0.518) + 0.2·g30 0.279 = −0.329; 0 at ≤−0.7, 50 at 0, 100 at ≥1.1.m = 0.5·g7 + 0.3·ln(day jump, clamped ±1.5) + 0.2·g30; 0 at m ≤ −0.7, 50 at 0, 100 at ≥ 1.1. Neutral 50 when g7 or g30 is missing; a missing day jump counts as 0.

Divergence20%

20Divergence 20.4: d = g30 − p30 = 0.306; 0 at ≤0, 100 at ≥1.5.d = max(0, g30 − p30) when g30 > 0; 0 at d ≤ 0, 100 at d ≥ 1.5, linear.

Quality20%

86Quality 86.3: mean of days HR>0 97% → 100.0 (0 at ≤30%, 100 at ≥90%), largest day 13% of HR30 → 100.0 (0 at ≥60%, 100 at ≤15%), distance to peak 0.63 → 58.8 (0 at ≤0.25, 100 at ≥0.9).Average of: share of days with HR > 0 (0 at ≤ 30%, 100 at ≥ 90%), 1 − largest day ÷ HR30 (0 at ≥ 60%, 100 at ≤ 15%) and distance to peak (0 at ≤ 0.25, 100 at ≥ 0.9).

Penalty −10 (dilution_above_4): dilution ratio 6.36 above 4.

Penalties−10

−10Dilution ratio above 4dilution ratio 6.36 above 4

9 rules not applied, 3 wait for research data.

Where the numbers come from

Revenue source: 1 active child; DefiLlama adapter per child
Price and market cap: defillama / defillama; latest fetch
Scored on: November 11, 2026; as-of date of the last compute run
On-chain verified: not yet; not checked yet

Protocols behind this token1 at DefiLlama

Per protocol: DefiLlama's methodology text, the distribution type we read from it and the sentence that decided it. The token takes the type of the protocol that returns the most to holders.

nest CL
Dexs · Hyperliquid L1
type distribution · source label
“Swap Fees to veNest lockers: Portion of swap fees going to the veNest lockers.”
Part of swap fees go to veNest lockers (based on the gauge rate - currently 100 % of the swap fees).
Swap Fees to veNest lockers
Portion of swap fees going to the veNest lockers.
adapter on GitHub ↗