Here is a better thesis i fucked up last one

Ramses is interesting because it’s not just another DEX: it combines concentrated liquidity, dynamic fees and MEV capture with x(3,3), where token holders can earn protocol-generated fees while directing emissions toward the most productive liquidity.

The bigger bet is HyperEVM/Hyperliquid: Ramses is positioning itself as a core liquidity layer there, with cross-venue MEV, liquid staking and a planned multichain architecture.

TL;DR: You're essentially betting that Hyperliquid's DeFi ecosystem grows massively and Ramses becomes one of its dominant liquidity/DEX layers. If that happens, RAM has a strong value-capture mechanism through burns, fees and xRAM.

Main risk: it's still an early-stage/high-beta DeFi bet, and the thesis depends heavily on HyperEVM adoption and Ramses actually capturing meaningful volume.