Blocmates unveils the “Holder Multiple,” a crypto-native valuation metric adjusting for token unlocks and buybacks to help institutions compare tokens beyond revenue

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FDV/revenue has been useless for years because two tokens with the same fee line can have opposite holder math once emissions, cliff unlocks, and treasury buybacks hit the float. A Holder Multiple only earns its keep if it treats HYPE-style fee buybacks, Maker/Sky surplus mechanics, and VC unlock absorption as different cash-flow quality instead of one generic “return to holders” bucket. If funds start underwriting tokens this way, teams will manage net float like public companies manage EPS: fewer vibes around revenue, more pressure to show buybacks that outrun dilution.

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Blocmates unveils the “Holder Multiple,” a crypto-native valuation metric adjusting for token unlocks and buybacks to help institutions compare tokens beyond revenue

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More on Buybacks

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