agree that majority of the flows are event-driven flows however, I strongly believe that both $CRED and $UMBRA are criminally undervalued Credible is doing $6m in rev and trades at 1.3x multiple - the market is basically pricing in zero future growth for this biz. meanwhile their payment volume is +50% QoQ Umbra just launched their v2, which I'd argue is currently the best privacy solution on Solana. their v1 was built on top of Arcium, but ran into headwinds using that stack, so they stripped it away, and built the entire stack from the ground up using zk (Nimbus). go deposit some assets into the shielded pools and give it a go and come to your own realizations the peers for UMBRA trade in the magnitudes of 10-1000x higher, but I'd argue that their tech stack already, and will continue to, rival its peers. I currently view UMBRA as the most asymmetric, pure-play bet on privacy for crypto-specific use cases: trading & payments I continue to believe that there are some incredibly undervalued, fundamental companies in the metadao ecosystem and expect these to reprice in due time (nfa // disc. long both assets)