《159 Protocol Value Accumulation Mechanisms Reviewed: Revenue Beats Token Mechanisms》 (Author: Connor King; Translated by Deep Tide TechFlow) This article analyzes six types of token value accumulation mechanisms across 159 crypto protocols and finds that revenue scale is more important than the mechanism itself. Protocols with daily revenue exceeding $500,000 had an average return of +8% over the past year, while the lowest revenue group saw -81%. Mechanisms like buyback and burn, fee sharing, and ve models did not consistently deliver excess returns, with many categories' performance driven solely by a few top projects (e.g., Hyperliquid). In contrast, pure governance, LRT, and Meme tokens, lacking revenue and value flow support, performed the weakest overall. Read the full article: https://www.(wublock123.com)/articles/article-58968