Kodiak V3 β Statistical Analysis
β
β
β
β
β
3.0
With $33.5M TVL and ~7.2% daily turnover (using $2.4M 24h volume), Kodiak V3 shows moderate traction but declining short-term flow (-31.1% 1d volume) and single-chain concentration (100% Berachain).
Updated: Β· Data Window: 24h / 7d / 30d (varies by metric availability)
1. Market Overview
- TVL stands at $33.5M with a +0.14% 24h move, indicating stable liquidity.
- Reported 24h volume is $2.4M (alt feed: $5.6M), with $21.3M (7d) and $109.4M (30d).
- Monetization scale: $3.1K fees (24h), $178.2K fees (30d), and $62.4K revenue (30d).
2. Capital Efficiency
- Capital turnover (Volume/TVL): 0.072x/day ($2.4M / $33.5M), 0.636x/7d, and 3.27x/30dβmid-tier utilization for a DEX with meaningful but not high-frequency flow.
- Flow momentum weakened: -31.10% 1d volume change, a near-term demand contraction signal.
- Fee efficiency: $3.1K / $2.4M = 0.129% implied fee take rate (~12.9 bps); annualizing 30d fees implies ~$2.14M/year, or ~6.4% fees/TVL run-rate.
3. Liquidity & Pair Spread
- Asset breadth: 45 coins across 73 pairs β 1.62 pairs/coin, suggesting a modest long-tail and likely liquidity concentration in a limited set of core pairs.
- Average liquidity per pair (rough proxy): $33.5M / 73 β $0.46M TVL per pairβadequate for mid-size trades but typically sensitive to slippage on less-active routes.
- The gap between volume feeds ($2.4M vs $5.6M in 24h) implies measurement variance; execution quality should be assessed per-pair where liquidity is deepest.
4. Chain Dominance
- TVL deployment is 100% on Berachain: $33.5M on a single chainβmaximizes network-specific liquidity but concentrates systemic and ecosystem risk.
- Cross-source TVL discrepancy: internal TVL $33.5M vs CoinGecko TVL $87.5M (a $54.0M or 2.61x difference), which can materially change perceived depth and capital efficiency depending on the reference set.
5. Analyst Verdict
- Valuation vs liquidity: MCap/TVL = 0.04 and FDV/TVL = 0.26βlow relative valuation compared with locked capital, often seen in early-stage or under-monetized liquidity.
- Protocol capture: revenue/fees is $1.1K / $3.1K β 35% (24h) and $62.4K / $178.2K β 35% (30d), indicating a consistent distribution split rather than volatile capture.
- Risk & maturity signals: 2 audits is constructive, but Trust Score: N/A and single-chain TVL concentration argue for a cautious stance; token is -51.4% from ATH ($0.45994 β $0.223544) with 14.8% circulating supply, leaving dilution overhang vs $22.3M FDV.