What makes a comparison credible.
| Concept | Explanation | |---|---| | Economic function | Assets should solve similar problems or serve similar customers. | | Maturity | Early-stage and mature assets deserve different expectations. | | Scale | Revenue, users, market cap, fees, or assets under management. | | Growth | Comparable historical and expected expansion. | | Profitability or value capture | Margins, cash flow, protocol fees, or token economics. | | Risk | Leverage, concentration, regulation, technology, and governance. |