Validators process transactions and receive fees from users (supply-side fees).

Mina is a smart contract platform for decentralized applications (a blockchain). Mina was founded by Evan Shapiro & Izaak Meckler and launched in 2017.

Mina’s investors include Pantera Capital, FTX Ventures, Circle Ventures, etc.

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Blockchains (L1)

Mina Protocol

# P/F ratio (fully diluted) Methodology

## Overview

P/F ratio (fully diluted) measures the fully diluted market cap relative to annualized fees. It shows how highly the project is valued relative to the activity users are willing to pay for, regardless of whether the project monetizes.

${market_cap_fully_diluted} / (rolling_avg(${fees}, 30) * 365)

Fully diluted market cap relative to annualized fees.

Mina ProtocolMINA

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P/F ratio (fully diluted)

P/F ratio (fully diluted)

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