How well do you know of the tokenization industry? While the newsreel of tokenization seems to be in perpetual motion, I have been hard pressed to find a complete overview of the industry players, transactions and value accrual points. Last week Binance published a mapping on the industry that arguably not only left out a lot of important participants but also failed to provide a sense of their relative scale. See below. So I am going to attempt to shine a light on the topic.

Last week we went through MakerDAO’s revenue and expense numbers. At 18.3 P/E, it is currently valued at a lower P/E multiple than every FAANG company. You can join the Insiders Club to get your hands on a complete analysis here . What about its future earnings potential? Good question. In this week’s newsletter, we will unpack MakerDAO founder Rune Christenson’s controversial “ Endgame ” plan that aims to scale the market cap of DAI, Maker's stablecoin, from the current $4bi