Quickly apply original, key PMR-published papers with Snapshots—a short article companion that distills PMR research into compressed, digestible takeaways, so you can put the paper’s core ideas to work in your investment process—fast. This Snapshot article is based on research arguing that governance-token returns are mostly associated with Ether returns, while protocol metrics add limited incremental explanatory power that varies by protocol type, especially between lending protocols and decentralized exchanges (DEX).
Derived from original PMR research written by Vera Larionova, Kirill Shilov, and Andrey Zubarev using AI and an editor (Wed,) studied this question.