MUX Perps vs Wasabi: Risk & Value Comparison
MUX Perps
Wasabi
Sector
Derivatives
Derivatives
Risk Score
27/100
40/100
Risk Grade
B
C+
Value Score
28/100
24/100
Value Grade
D+
D
TVL
$10M
$2M
FDV
$13M
—
Mechanisms
6
5
Interactions
4
4
Quadrant
Dead Money
Weak
Risk Dimension Comparison
Mechanism Novelty/ 15
MUX Perps
0
Wasabi
6
Interaction Severity/ 20
MUX Perps
5
Wasabi
8
Oracle Surface/ 10
MUX Perps
5
Wasabi
5
Documentation Quality/ 10
MUX Perps
4
Wasabi
4
Track Record/ 15
MUX Perps
2
Wasabi
6
Scale Exposure/ 10
MUX Perps
3
Wasabi
0
Regulatory Risk/ 10
MUX Perps
5
Wasabi
5
Protocol Vitality/ 10
MUX Perps
3
Wasabi
6
Value Dimension Comparison
Fee Capture/ 25
MUX Perps
8
Wasabi
8
Token Distribution/ 25
MUX Perps
8
Wasabi
5
Emission Sustainability/ 25
MUX Perps
5
Wasabi
5
Competitive Moat/ 25
MUX Perps
7
Wasabi
6
Verdict
MUX Perps is the safer protocol with a risk score of 27/100 (B) compared to 40/100 (C+).
MUX Perps has stronger value accrual (D+, 28/100) compared to D (24/100).