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[Flyp.me](https://Flyp.me) is an instant exchange competitor to the likes of Shapeshift and Changelly that prides itself into being fully private. No sign in is required, a user can just send and receive or put it differently, flyp.
Due to recent changes in Shapeshift KYC policy some customers are estranged and are looking for alternatives. Most notably Blockonomics has recently started using [Flyp.me](https://Flyp.me) for altcoin conversions from it’s 5000+ merchants. This is starting to lead to considerably higher volume on the exchange and it is now processing close to 50 BTC/week, some 40% more than its 3rd quarter average.
Why is this important? Because you can become part owner of [Flyp.me](https://Flyp.me) or at least from its profits. The FYP token is being traded on both [hitbtc.com](https://hitbtc.com) and [Flyp.me](https://Flyp.me). At last trading price of 500 satoshi the market cap of all FYP in existence is just below 1.1 million dollar. These tokens are however profit sharing tokens and give owners every quarter a payout of 50% of all profits of the exchange. Last payout was 45.622 ETH or about 10000 dollar at a price of 220 USD at the time. If one even adjust for the average Ethereum price of 330 USD during the quarter it could even be said that the [Flyp.me](https://Flyp.me) platform generated 15000 dollar for its token holders during the 3rd quarter.
If a company would make 15000 dollar per quarter and have a market cap of 1.1 million it would have a P/E ratio of 18.3. Adjusting for its 40% growth that already took place would give a P/E ratio far below 15. However, there is no company in the world that grows its profits by 40% in a quarter and definitely none that is only valued at a P/E ratio of 13.1. Growth companies that come close to the growth that [Flyp.me](https://Flyp.me) is demonstrating are often valued at way higher P/E ratios like Amazon (P/E: 160), Netflix (P/E: 150) or Salesforce (P/E: 120).
At 2.5 USD the FYP token was tremendously overvalued during the climax in January but at 3-4 cents it is also dramatically undervalued right now. As always do your own due diligence but perhaps it is time to give this little startup a second look.