Hydrex HYDX

Payout, not buyback

Holders revenue goes to vote lockers (swap fees and bribes), not to a buyback on the market.

Dexs, Base, 193 days of data

Not in the main ranking: Market cap below $1M

Market cap

$947k

price $0.0193 · 7d −5.2% · 30d −42.1%

FDV $2.1M (2.2× market cap)

source defillama

Counted per year

$1.8M

holders revenue of the last 30 days, $547k, × 365 ÷ 30, × type factor 0.267025 (payouts to vote lockers count 27%)

ve / bribesbuyback share 97%

Pays out 653% of its market cap a year, using 97¢ of every $1 it earns.

Not a buyback: counts for 27% in the multiple (type factor 0.267025), so the denominator is $1.8M instead of $6.7M.

Multiple

0.6×

peer median 17.4× (Dexs, 14 tokens), against 0.6× here

Run-rate

0.7×

last 7 days $107k × 52 × 0.27 (type factor) = $1.5M a year

last week's payout in line with the 30-day pace

What we checked

Valuation
Multiple 0.6× (type factor 0.267025: payouts to vote lockers count 27%), 30.3× cheaper than its Dexs peers (median 17.4×, 14 tokens). It is itself the largest earner in the group. On total revenue: 0.1×, 113× cheaper than the revenue peer median.
Distribution
ve / bribes: Includes bribes and vote incentives from third parties paid to vote-escrow lockers; no buy pressure on the token. Holders got $547k of $564k revenue in 30 days → buyback share 97%. DefiLlama: “Bribes Revenue: External bribes paid to governance token holders as incentives (tracked separately from protocol-generated HoldersRevenue)”
Sustainability
Holders were paid on 30 of 30 days (100%); largest single day 20% of the month's holders revenue; paid to holders this week: 75% of the best week in 90 days. Revenue −1% over 7 days and +72% over 30 days, price −42% over 30 days.

What this does not tell you

The figures come from DefiLlama's adapter for each child protocol. Only a few tokens have an on-chain check (see How the buyback really works); for the rest, whether the tokens were really bought, burned or parked in a treasury wallet is not checked here. Unlocks count where DefiLlama or our research has a vesting schedule; team discretion and liquidity depth only once researched.

Flags

No flags today: no active sell signal, and nothing in the data of this token needs a caveat.

How the buyback really works

Not researched yet. Everything above comes from DefiLlama and market data only.

Holders revenue / revenue (30d): $547k / $564k; last 30 closed days
To holders: Pays out 653% of its market cap a year
FDV / dilution: $2.1M / 2.2×; FDV ÷ market cap
Price 7d / 30d: −5.2% / −42.1%
Revenue growth 7d / 30d: −1% / +72%; versus the period before
Divergence: 1.09; revenue growth minus price growth, 30d
DEX liquidity: $565k; DexScreener, representative pools
24h volume: $8k; all markets, CoinGecko
Unlocks 30d: —; unlocks not tracked yet
Revenue multiple: 0.1×; market cap ÷ revenue per year
Fee multiple: 0.1×; market cap ÷ fees per year
Distance to peak: 75%; this week ÷ best week of 90 days
Data since: May 4; first day with holders revenue

Holders revenue and price

Holders revenue per day7-day averagePrice (right axis)

Multiple over time

today 0.6× (scored) · peer median 17.4×

Market cap at close ÷ (holders revenue of the previous 30 days × 365 ÷ 30), with holders revenue capped at revenue and × the type factor: the same effective multiple as the peer median. Values above 100× are drawn at the top. Bands as on the meter; dashed line = peer median today.

Signal history

No signals for this token yet.

Versus peers

Dexs · 2 tokens · median multiple 17.4×

Main-ranking peers only. Multiples count holders revenue capped at revenue, × the type factor (buyback 1 · buyback + burn 1 · burn 0.75 · mixed 0.75 · distribution 0.5 · unclear 0.5 · ve-distribution 0.25).

This token against its main-ranking peers: multiple, revenue multiple, buyback share, holders revenue, market cap and revenue growth
Token	Distribution	Multiple	Revenue multiple	Buyback share	To holders 30d	Market cap	Rev. growth 30d
Hydrexleaderthis token	ve / bribes	0.6×	0.1×	97%	$547k	$947k	+72%
Shadow Exchange	Distribution	3.1×	1.5×	99%	$61k	$840k	+62%

Score build-up74 of 100

Total score = 35% valuation + 25% momentum + 20% divergence + 20% quality − penalties, clamped to 0–100. Every number here can be recomputed from the figures on this page.

74of 100

Valuation 35.0Momentum 6.3Divergence 14.5Quality 17.8= 73.6

Valuation35%

100Valuation 100.0: HR half 100.0 (multiple 0.57×; 100 at ≤3×, 0 at ≥100×, log scale), revenue half 100.0 (revenue peer value 112.59×; 0 at ≤0.33×, 50 at 1×, 100 at ≥3×, log scale).Average of two halves. HR half: linear in log(multiple), 100 at ≤ 3×, 0 at ≥ 100×, 0 without effective HR. Revenue half: linear in log(revenue peer value), 0 at ≤ 0.33×, 50 at 1×, 100 at ≥ 3×; neutral 50 when the peer group falls back to the universe.

Momentum25%

25Momentum 25.4: m = 0.5·g7 −0.007 + 0.3·(ln(day jump 0.10) clamped ±1.5 = −1.500) + 0.2·g30 0.544 = −0.345; 0 at ≤−0.7, 50 at 0, 100 at ≥1.1.m = 0.5·g7 + 0.3·ln(day jump, clamped ±1.5) + 0.2·g30; 0 at m ≤ −0.7, 50 at 0, 100 at ≥ 1.1. Neutral 50 when g7 or g30 is missing; a missing day jump counts as 0.

Divergence20%

73Divergence 72.6: d = g30 − p30 = 1.090; 0 at ≤0, 100 at ≥1.5.d = max(0, g30 − p30) when g30 > 0; 0 at d ≤ 0, 100 at d ≥ 1.5, linear.

Quality20%

89Quality 88.8: mean of days HR>0 100% → 100.0 (0 at ≤30%, 100 at ≥90%), largest day 20% of HR30 → 89.3 (0 at ≥60%, 100 at ≤15%), distance to peak 0.75 → 77.1 (0 at ≤0.25, 100 at ≥0.9).Average of: share of days with HR > 0 (0 at ≤ 30%, 100 at ≥ 90%), 1 − largest day ÷ HR30 (0 at ≥ 60%, 100 at ≤ 15%) and distance to peak (0 at ≤ 0.25, 100 at ≥ 0.9).

Penaltiesnone

No penalty applies — 10 rules checked, 3 wait for research data

Where the numbers come from

Revenue source: 1 active child; DefiLlama adapter per child
Price and market cap: defillama / defillama; latest fetch
Scored on: October 28, 2026; as-of date of the last compute run
On-chain verified: not yet; not checked yet

Protocols behind this token1 at DefiLlama

Per protocol: DefiLlama's methodology text, the distribution type we read from it and the sentence that decided it. The token takes the type of the protocol that returns the most to holders.

Hydrex Integral
Dexs · Base
type ve-distribution · source label
“Bribes Revenue: External bribes paid to governance token holders as incentives (tracked separately from protocol-generated HoldersRevenue)”
Protocol-generated revenue from DEX fees and Omni Liquidity fees distributed to governance token holders (excludes external bribes which are tracked in BribesRevenue).
DEX Fees
Share of fees from DEX fees to holders
Bribes Revenue
External bribes paid to governance token holders as incentives (tracked separately from protocol-generated HoldersRevenue)
adapter on GitHub ↗