$FF (bearing) vs. $EDEN (bullish) – my thesis ↓

Both $FF and $EDEN experienced heavy post-TGE sell-offs with 70%+ declines, yet my outlook differs significantly.

Critical difference is the valuation.
• @FalconStable FDV: $1.79B (completely detached from reality)
• @OpenEden_X FDV: $408M (reasonable for RWA sector)

FF is trading at 4.4x EDEN's valuation despite having weaker fundamentals. This valuation gap is the primary reason for my different outlooks.

$EDEN's launch structure was much better.

• Smaller FDV & circ supply → Easier to absorb selling pressure
• Real business model: Actual revenue from RWA products
• Regulatory compliance: Licensed operations reduce regulatory risk

Long-term, $FF's success depends on $USDf adoption, which requires:

• User trust in synthetic mechanisms
• Competitive yields vs traditional stablecoins
• Regulatory acceptance of synthetic dollars

All of these are uncertain.

The important part here is that $EDEN has proven revenue streams – while $FF has no:

• TBILL fund management fees
• USDO stablecoin operations
• RWA tokenization services

These generate real cash flow.

Recovery catalysts for $EDEN:
• Fundamental value support at current levels
• Institutional adoption pipeline
• TVL growth momentum
• Token utility development potential
• Sector rotation into RWA tokens

My price targets for the $EDEN position ↓
• Bear Case: $0.30-$0.40 (limited downside)
• Base Case: $0.60-$1.00 (fair value recovery)
• Bull Case: $1.50-$2.50 (growth premium)

Hodling $EDEN.
NFA ofc, I agree if you disagree.