Meteora has reported $136 million in annual fee revenue from its operations within the Solana ecosystem, yet its valuation stands at $521 million, significantly lower than comparable decentralized exchanges. In contrast, Uniswap, with $104.2 million in fees, is valued at approximately $8.5 billion. PancakeSwap, generating $51.6 million in fees, holds a valuation near $900 million. Meanwhile, Jupiter and Raydium, with fee revenues of $95.2 million and $79.6 million respectively, are valued at about $2.4 billion and $880 million. This disparity underscores a notable valuation gap for Meteora despite its substantial revenue.