Ramses β Statistical Analysis
Ramses V3 demonstrates strong capital efficiency with a 24h Volume/TVL ratio of 1.80x and high revenue retention, but its relatively low $3.6M TVL and single-chain dependency warrant close monitoring.
1. Market Overview
Ramses V3 (HyperEVM) manages a Total Value Locked (TVL) of $3.6M, experiencing a 24-hour growth of +2.16%. Its daily trading volume stands at $6.5M, though this represents a -12.13% decline from the previous day. The protocol has generated total fees of $1.0M since inception, with $3.4K in fees and $3.2K in revenue recorded over the last 24 hours. The current scale positions it as a moderate-sized DEX.
2. Capital Efficiency
The protocol exhibits significant capital efficiency. Its 24-hour Volume/TVL ratio is 1.80x ($6.5M / $3.6M), indicating that the TVL turns over nearly twice daily. Over 7 days, this ratio escalates to 12.36x, reaching 52.08x over a 30-day period. This high turnover suggests effective utilization of locked capital, typical of well-configured V3 DEX liquidity pools, despite the moderate TVL base.
3. Liquidity & Pair Spread
Ramses V3 supports 15 listed coins across 33 trading pairs, yielding an average of 2.2 pairs per coin. This diversity suggests a reasonable breadth of trading options without excessive concentration on a few assets. All $3.6M of the protocol's TVL is deployed on the Hyperliquid L1 chain, indicating a centralized liquidity strategy within that specific ecosystem.
4. Chain Dominance
The protocol's entire TVL of $3.6M is exclusively deployed on the Hyperliquid L1 chain. This 100% concentration signifies a deep integration and dependency on the Hyperliquid L1 ecosystem. While fostering ecosystem-specific growth, it also implies a single point of failure and limits potential liquidity sourcing from other blockchain networks.
5. Analyst Verdict
Ramses V3 demonstrates robust operational efficiency, particularly in capital utilization, with a high Volume/TVL ratio. The protocol has undergone 2 audits, enhancing its security profile. Revenue retention is strong, with 24-hour revenue at $3.2K against $3.4K in fees (a ~94% retention rate). However, the overall TVL of $3.6M is relatively modest, and the 24-hour volume decline of -12.13% warrants attention. The implied 24h fee rate of approximately 0.052% ($3.4K/$6.5M) is notably low, suggesting a highly competitive environment or specialized low-fee pools. Its complete reliance on Hyperliquid L1 presents both focused growth potential and platform-specific risks. The absence of a Trust Score is a gap in its public risk assessment.