Valuing Layer 1 Tokens as Monetary Stores of Value (MSOV) – Skycatcher
Skycatcher introduces a novel “monetary store of value” (MSOV) framework to value native tokens of Layer 1 blockchains. The framework implies that at today’s prices, Ethereum (ETH) and Solana (SOL) are expected to grow their MSOV totals by $142 billion and $85 billion respectively, as they currently trade at 2.1x and 6.7x multiples to their MSOV totals. The paper is a resource to help investors understand long-term value drivers and implied expectations for Layer 1 (L1) tokens.
Related RSOV Materials:
Financial Model Template – A template financial model on RSOV that investors can use to get a more tactical feel for it.
Bankless – RSOV Podcast – Bankless episode on RSOV method (May 26 2025)
Blockworks Empire – RSOV Podcast – Debate: How to Value an L1 Token (June 2 2025)
