ZRX tokenomics analysis + discounted cash flow model valuation
Hello to 0x community!
With the new tokenomics introduced, we at Sigil / TopMonks decided to take a deeper look at the economics of staking. We attempted to model a "fair price" of ZRX based on the discounted cash flow model (where discount = DSR of 6 % p.a.). We find that given the assumptions (described in the article), ZRX is currently quite overvalued (\~50x). We also try to explain why the discrepancy between actual market price and price based on DCF - obviously other factors are propping up the market price.
You can check the analysis here: [https://sigilfund.com/research/zrx-token-model-price-and-value/](https://sigilfund.com/research/zrx-token-model-price-and-value/)