코인도 매출과 이익보고 가치에 투자하세요. 수익 내고 자사주 매입까지 하는 디파이 생태계 l 서동주, 김동환, e디파이 농부 조선생 [크립토PLUS]

Watch on YouTube ↗  |  April 20, 2026 at 05:15  |  28:44  |  3PRO TV (삼프로TV)
Speakers

Summary

Cho Dong-hyun, CEO of Undefined Labs, explains how the crypto market has evolved from speculative narrative investing in 2021 to a data-driven environment in 2026, where DeFi projects generate real revenue and actively buy back their tokens. He highlights Hyperliquid, Aave, and Maple Finance as examples with strong fundamentals and advises retail investors to focus on projects with transparent revenue data or simply hold Bitcoin.

  • The crypto market has shifted from hype and FOMO to a fundamental valuation era.
  • Hyperliquid is a decentralized exchange with 99% net profit margins and aggressive token buybacks.
  • Aave is a major lending platform that suffered a hack but still has underlying revenue and buyback mechanics.
  • Maple Finance focuses on institutional lending with high loan quality and steady growth.
  • Retail investors are encouraged to use data platforms like DeFiLlama for analysis.
  • Bitcoin is recommended as a simple, safe investment for those overwhelmed by data.
  • Narrative investing still exists but is now less lucrative and requires full-time effort.
  • The three highlighted projects are examples of valuation-able crypto assets.
Trade Ideas
Cho Dong-hyun 4:08
Hyperliquid high margin buyback growth
Hyperliquid (HYPE) is a decentralized perpetual futures exchange with extremely low operating costs (11 employees) and high net profit margins (99% of revenue). It uses nearly all profits to buy back its own token, driving price appreciation. Its open architecture allows third-party developers to add new features, expanding revenue streams beyond crypto to tokenized gold, copper, and oil. This scalability and capital efficiency make it a high-growth, valuation-driven investment.
HYPE HIGH
Cho Dong-hyun 4:33
Maple Finance institutional lending high quality
Maple Finance (MPL) is a lending platform focused on institutional borrowers with KYC/KYB, ensuring high loan quality and no liquidations during volatile periods. It collects stablecoin deposits from retail, pays ~5% yield, and lends to verified companies. It uses 25% of net profit for token buybacks. TVL has grown rapidly since early 2025, and the project is early-stage with high revenue relative to market cap.
MPL MED
Cho Dong-hyun 5:59
Aave lending revenue buyback post-hack
Aave (AAVE) is the largest lending platform on Ethereum, operating like a decentralized bank with a TVL of $36B at its peak. It generates steady revenue from loan margins and allocates 35% of net profit to buy back its token. A recent hack has reduced TVL and may compress its valuation multiple, but the project's fundamental revenue model remains intact. It is now a valuation-able asset but requires monitoring post-hack.
AAVE MED
Cho Dong-hyun 28:16
Bitcoin simple safe for retail
For retail investors who find DeFi data analysis complex or time-consuming, Bitcoin (BTC) remains the simplest and safest investment in crypto. It requires minimal ongoing research and is less exposed to the valuation-driven shifts of smaller projects.
BTC MED
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This 3PRO TV (삼프로TV) video, published April 20, 2026, features Cho Dong-hyun discussing HYPE, MPL, AAVE, BTC. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Cho Dong-hyun  · Tickers: HYPE, MPL, AAVE, BTC