Protocol success metrics are undergoing a major transformation. During the last market cycle, we measured wins through transaction volume and protocol fees—straightforward metrics tied to raw activity. But the narrative is shifting. Enter the new standard: monetary sovereignty. This reframes everything. The key insight? Protocols are capturing yield that traditionally flowed outward to external financial systems. By keeping this economic value within their own ecosystem, they create self-reinforcing networks. It's not just about transaction throughput anymore; it's about who controls the monetary layer and where the returns accumulate. This shift signals that the most successful protocols won't necessarily be the busiest ones—they'll be the ones that internalize and distribute economic power back to their communities.

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