Earlier this cycle I analyzed Ore Protocol's economics—their $10M in monthly protocol revenue caught attention, and I documented a thread breaking down what genuine protocol sustainability actually looks like across their core ecosystem.

Now I'm tracking GODL, and there's something different happening here. Their foundation feels meaningfully more robust. Where you often see pure emission-driven mining models, GODL operates on actual revenue backing. The mechanics matter: sustainable projects need cash flow supporting the token economy, not just minting to fund operations. It's the difference between a project that generates and a project that simply dilutes. The revenue-backed structure creates different incentive alignment.