$FLUID might be one of the most overlooked ETH betas out there right now. Averaging $700M/day in volume. Dex v2 is next — if it delivers and actually flips Uniswap on volatile pairs like they’re expecting, the market’s going to have to reprice that narrative fast. It's already dominating stables and correlated tokens volumes. Then there’s the Jupiter Lend partnership — Fluid gets 50% of the revenue. If that grows anything like Jupiter did, they’re going to be sitting on a serious revenue engine. Buybacks kick in at $10M annualized revenue — they’re already at $7M. At some point, this should be priced as both a DEX and a lending market. Right now, it’s not. Feels like one of those setups where the token is still priced like a forgotten protocol, while the infrastructure quietly eats market share from below. The only thing they lack is marketing