Market Research / Fees & Revenue
What a chain actually earns.
Fees paid and revenue kept, per chain and per protocol, with the take rate between them. Activity and value capture are different things, and only one of them is a business.
Fees and revenue are not the same number
Fees are what users paid. Revenue is what was kept. A network can process enormous fee volume and retain almost none of it, and the take rate between the two is the figure that says which case you are looking at.
- Both figures, always
Paid by users and kept by protocols
- Take rate
The ratio that separates volume from value
- Reconciled
The totals are the sum of their own rows
Split by the protocols earning it
A chain whose fees come from one protocol is a different asset from one whose fees come from twenty. Break any network down by contributor and see how concentrated its economics actually are.
- By protocol
Who generates the fees, and who keeps them
- Concentration
One protocol or a broad base
- Per-protocol take rate
A DEX and a lending market keep very different shares
Compare networks on economics
TVL says how much sits on a chain. Fees say how much it is used, and revenue says how much that use is worth. Rank networks on all three rather than on the one that flatters them.
- Chain against chain
On fees, revenue, and take rate
- Beside TVL and volume
The full picture, not one metric
- Any window
Daily through multi-year history
Economics across every chain and protocol
- Reported separately, always
- Fees + revenue
- The ratio between them
- Take rate
- Who earns it, chain by chain
- Per protocol
Fees and revenue reported as two separate figures with the take rate between them, per network and per protocol, on a consistent basis across all of them.
Every tool takes a fee earner as an input.
The research tools are not a separate product. Point any of them at a fee earner and it works the way it does everywhere else, on the same data this page is built from.
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Fees are $1.9M over 24 hours with $1.6M of that retained, so the take rate is 84% and holding through the volume increase.