Who earns fees in crypto?
An overview of the blockchains and dapps that generate the most fees, and an illustration how those fees are distributed between the protocol and its supply-side participants.
In this article, we provide an overview of the blockchains and dapps that generate the most fees, and illustrate how those fees are distributed between the protocol and its supply-side participants.
These are the current top 25 dapps and blockchains based on the total amount of fees collected since launch.
However, not all fee streams are created equal!
When a user pays fees to a protocol, you want to know how that fee is split between the protocol & external service or liquidity providers. Let's take a look at the fee streams of the highest fee-generating protocols in crypto:
1. Ethereum
Growth stats:
Total fees collected since launch: $15.2B
Fees collected in Dec 2021: $1.16B
Fees collected in Dec 2022: $0.07B
YoY change: -93.6%
Fees: total transaction fees paid by users
Supply-side participants: validators
Amount of fees kept as revenue: $8.85B (58.4% of total fees)
2. Uniswap
Growth stats:
Total fees collected since launch: $2.7B
Fees collected in Dec 2021: $160.9M
Fees collected in Dec 2022: $21.3M
YoY change: -86.8%
Fees: total trading fees paid by traders
Supply-side participants: liquidity providers
Amount of fees kept as revenue: $0 (0% of total fees)
3. OpenSea
Growth stats:
Total fees collected since launch: $2.7B
Fees collected in Dec 2021: $201.5M
Fees collected in Dec 2022: $34.1M
YoY change: -83.1%
Fees: royalties and transaction fees paid by collectors
Supply-side participants: NFT creators
Amount of fees kept as revenue: $900.7M (33.1% of total fees)
4. Bitcoin
Growth stats:
Total fees collected since launch: $2.5B
Fees collected in Dec 2021: $19.6M
Fees collected in Dec 2022: $9.3M
YoY change: -52.6%
Fees: total transaction fees paid by users
Supply-side participants: miners
Amount of fees kept as revenue: $0 (0% of total fees)
5. Filecoin
Growth stats:
Total fees collected since launch: $1.7B
Fees collected in Dec 2021: $7.7M
Fees collected in Dec 2022: $1.4M
YoY change: -81.8%
Fees: total transaction fees paid by users
Supply-side participants: miners
Amount of fees kept as revenue: $1.6B (99.7% of total fees)
Read the full article on tokenterminal.com for further analysis more projects.
This article is meant for informational purposes only. It is not meant to serve as investment advice. Please consult with your investment, tax, or legal advisor before making any investment decisions.