Futarchy AMM vs Pharaoh V3: Risk & Value Comparison
Futarchy AMM
Pharaoh V3
Sector
DEX
DEX
Risk Score
39/100
39/100
Risk Grade
C+
C+
Value Score
48/100
58/100
Value Grade
C
B-
TVL
$13M
$35M
FDV
—
$12M
Mechanisms
6
7
Interactions
5
4
Quadrant
Neutral
Promising
Risk Dimension Comparison
Mechanism Novelty/ 15
Futarchy AMM
9
Pharaoh V3
5
Interaction Severity/ 20
Futarchy AMM
5
Pharaoh V3
8
Oracle Surface/ 10
Futarchy AMM
0
Pharaoh V3
3
Documentation Quality/ 10
Futarchy AMM
4
Pharaoh V3
3
Track Record/ 15
Futarchy AMM
9
Pharaoh V3
8
Scale Exposure/ 10
Futarchy AMM
3
Pharaoh V3
3
Regulatory Risk/ 10
Futarchy AMM
4
Pharaoh V3
4
Protocol Vitality/ 10
Futarchy AMM
5
Pharaoh V3
5
Value Dimension Comparison
Fee Capture/ 25
Futarchy AMM
14
Pharaoh V3
16
Token Distribution/ 25
Futarchy AMM
12
Pharaoh V3
12
Emission Sustainability/ 25
Futarchy AMM
12
Pharaoh V3
14
Competitive Moat/ 25
Futarchy AMM
10
Pharaoh V3
16
Verdict
Both protocols have identical risk scores (39/100), making them equally risky.
Pharaoh V3 has stronger value accrual (B-, 58/100) compared to C (48/100).