Protocol revenue ≠ tokenholder revenue

P/F, P/S are protocol-level, not token-level metrics.

We introduce Effective Multipliers, accounting:
- token revenue (not protocol revenue)
- cashflow-receiving token supply instead of circulating supply

It is designed for: How expensive is the token relative to the cashflow it captures?

https://x.com/valueverse_ai/status/2011937946459345361