BHI 3.0·Q1 2026 Bulletin
Last computed 14:32 UTC, Apr 29 2026·Spearman ρ = 0.83·Validation: preliminary
Today's bulletin →
Movers · since 14:32 UTC, Apr 29 2026
PLATFORM PROFILEUNI

Uniswap

$6.5BDominant DEXCrypto Infrastructure
0.96
B-index (V3.1)
GROWING GRAVITY
Capture0.599
Escape0.624
Key Structural Insight

Liquidity network effect (n=9) is the entire moat. Everything else is relatively portable.

Eleven-Parameter Profile

5DATAMEMACTPROCNETCLOSEPORTSUBFALLORGMOM
Data Depth4/10
Memory4/10
Action6/10
Process5/10
Network9/10
Closeness5/10
Portability8/10
Substitutability5/10
Human Fallback6/10
Org Depth6/10
Momentum6/10
Capture Escape Extended

V3.1 Decomposition

ComponentValueFormula
CES₄ capture core0.4715CES(d, m, a, p)
Knowledge synergy σₖ0.4000√(d · m)
Operability synergy σₒ0.5477√(a · p)
Synergy boost1.14221 + 0.3·(σₖ + σₒ)/2
Org-depth multiplier1.30001 + 0.5·o
Momentum multiplier1.18001 + 0.3·t
Total Capture0.5989c·(1+0.5n)·core·syn·org·mom
CES₃ escape core0.6273CES(x, s, h)
Feedback attenuation0.8350max(0.3, 1 − 0.35·core)
Total Escape0.6238ε + escCore · feedback
B = Capture / Escape0.960.599 / 0.624

Scoring Rationale

Dominant DEX by volume. Network effect through LP positions and routing. Frontend replaceable (1inch, Matcha route through Uniswap liquidity). Uniswap Labs controls canonical frontend and fee switch.

Parameter Sensitivity

MARGINAL B-INDEX CHANGE PER ±1 SCORE SHIFT
CLOSE5
+0.38
DATA4
+0.14
MEM4
+0.14
PROC5
+0.13
ACT6
+0.12
SUB5
-0.10
FALL6
-0.09
PORT8
-0.08
ORG6
+0.07
NET9
+0.07
MOM6
+0.05
+ raises B (deepens lock-in) lowers B (aids escape)

Comparable PlatformsCrypto Infrastructure (7 peers)

#PlatformTickerB-indexZone
01Binance (Exchange)BNB3.47BLACK HOLEProfile →
02ChainlinkLINK2.99BLACK HOLEProfile →
03MetaMask (Wallet)-2.56BLACK HOLEProfile →
04CoinbaseCOIN1.83EVENT HORIZONProfile →
05AaveAAVE1.67EVENT HORIZONProfile →
06LidoLDO0.80GROWING GRAVITYProfile →
07OpenSea-0.63GROWING GRAVITYProfile →