(Supporting Layer)
| Metric | Value |
|---|---|
| Paid CAC 2026 | $25 |
| Mature CAC | $50 |
| Blended CAC | $35–40 |
| Cost per Paying Trader | $85–120 |
| Stage | Conversion |
|---|---|
| Lead → User | 30% |
| User → Financial Active | 65–80% |
| FAU → Paying | 55–60% |
User growth supports volume but is not the core KPI.