14.5x annualized voter revenue for $AERO. $274K in 24h fees against the full minted supply. Only the 82% who lock get that multiple. Spot holders absorb the emissions, not the fees. Price is 72% below its Dec 2024 high, 30-day move clawing back just 6.1%. The math holds only if fees compound faster than weekly emissions dilute the float.
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