# Chainlink SVR Revenue Methodology

## 1. Overview

Revenue for Chainlink SVR is measured as the value of native asset distributions received by the Aave Collector from the Chainlink Smart Value Recapture (SVR) system. Maximal extractable value (MEV) from liquidation auctions is recaptured via Flashbots MEV-Share. Aave's 65% share of the recaptured MEV is distributed weekly as native Ether from a Gnosis Safe to the Aave Collector. These distributions are captured as protocol revenue, with no portion allocated to supply-side participants.

## 2. Data sources

- **Blockchain events**: Native asset transfers from the Chainlink SVR Gnosis Safe to the Aave Collector V2 contract, covering Ethereum
- **External data**: End-of-day price feeds for native assets

## 3. Step-by-step calculation

### Component A: SVR distribution tracking

- **Purpose**: Identify and extract native asset transfers representing SVR revenue distributions.
- **Logic**: Native asset outflows from the Chainlink SVR Gnosis Safe are matched with native asset inflows to the Aave Collector V2 contract. Transactions occurring on or after the SVR launch date in March 2025 are filtered. The transfer amounts are extracted from these matched native flows.
- **Key fields**: `block_timestamp` (timing), `amount` (transfer volume), `account_address` (identifying the Gnosis Safe and Aave Collector)

### Component B: USD conversion and aggregation

- **Purpose**: Normalize the extracted native asset amounts to USD and aggregate them.
- **Logic**: The extracted native Ether amounts are normalized by decimal precision. The normalized amounts are multiplied by the end-of-day price of Ether to determine the USD value. The daily revenue is aggregated by summing the USD values within UTC day boundaries. Supply-side fees are set to zero, meaning 100% of the captured distribution is classified as protocol revenue.
- **Key fields**: `block_timestamp` (timing), `revenue` (calculated USD value)

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

fees * take_rate (illustrative — revenue is observed directly per project, not derived from take_rate)

Fee revenue retained after supply-side payouts. Before cost of revenue (e.g. L2 DA fees) and before operating expenses.

Revenue

Lending

Lenders deposit funds into Aave and receive interest payments from borrowers (supply-side fees).

Aave is a non-custodial lending protocol built on Ethereum and other adjacent blockchains. Aave was founded by Stani Kulechov and launched in 2017.

AAVE tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (revenue). Aave’s investors include ParaFi Capital, Framework Ventures, Three Arrows Capital, etc.

Chainlink SVR

Revenue

Revenue

Chain breakdown