A recent analysis of 159 crypto protocols highlights that revenue scale is more crucial than token value accumulation mechanisms. Protocols with daily revenues exceeding $500,000 saw an average return of +8% over the past year, while those in the lowest income bracket experienced a -81% return. Mechanisms such as buyback and burn, fee dividends, and ve models did not consistently yield excess returns, with performance often driven by leading projects like Hyperliquid. In contrast, tokens lacking revenue and value return support, such as pure governance, LRT, and Meme tokens, performed the weakest.