# Acala Liquid Staking Revenue Methodology

## 1. Overview

Revenue measures the portion of fees that Acala Liquid Staking retains, as determined by the protocol's take rate on staking rewards and other service fees. This metric represents the net value of assets accumulated in the protocol's designated treasury account. Revenue is calculated as the net flow of assets into the fee treasury, accounting for the exchange rate between the liquid staked asset (LDOT) and its underlying collateral (DOT).

## 2. Data sources

- **Blockchain events**: `Deposited` and `Withdrawn` events from `tokens` pallet contracts, plus state data for `totalStakingBonded`, `toBondPool`, and `totalIssuance` (LDOT), covering Acala Substrate
- **External data**: End-of-day price feeds for assets including DOT and LDOT

## 3. Step-by-step calculation

### Component A: LDOT exchange rate determination

- **Purpose**: Calculate the value relationship between LDOT and the underlying staked DOT
- **Logic**: The total underlying DOT backing the system is calculated by summing the total staking bonded and the DOT waiting in the bond pool. The total LDOT supply is determined by summing the total issuance and any voided LDOT. The exchange rate is calculated by dividing the total underlying DOT amount by the total LDOT supply.
- **Key fields**: `total_staking`, `to_bond_pool`, `total_issuance`, `void_ldot`

### Component B: Acala Liquid Staking treasury activity tracking

- **Purpose**: Identify fee-related inflows and outflows for the liquid staking product
- **Logic**: `Deposited` and `Withdrawn` events from `tokens` pallet contracts are filtered to capture activity associated with the specific Acala treasury account (`23M5ttkmR6Kco5p3LFGKMpMv4zvLkKdUQWW1wGGoV8zDX3am`). Assets are identified by mapping internal asset identifiers to canonical symbols.
- **Key fields**: `amount`, `token_symbol`, `account`

### Component C: Net revenue calculation and USD conversion

- **Purpose**: Normalize fee flows to USD and calculate the final revenue metric
- **Logic**: Raw deposit and withdrawal amounts are normalized by decimal precision and converted to USD using end-of-day price feeds. The USD-denominated values are then adjusted by the LDOT exchange rate to reflect the true value of the staked collateral. Revenue is calculated as the sum of deposits minus the sum of withdrawals (net deposits) for the Acala Liquid Staking product. Daily granularity is maintained using UTC day boundaries.

*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

Liquid staking

Collators aggregate parachain transactions block candidates and producing state transition proofs for validators based on those blocks.

Acala is a specialized stablecoin and liquidity blockchain powered by Polkadot Relay chain.

ACA holders own and govern the protocol. Acala’s investors include Pantera Capital, Coinbase Ventures, and Polychain Capital.

Acala Liquid Staking

Archived

Revenue

Revenue

Chain breakdown