Blast batches users' transactions and submits them to Ethereum, paying a share of the transaction fees to Ethereum validators (expense). Bridge depositors deposit ETH or stablecoins to Blast and receive a yield from ETH staking or T-bill strategies.

Blast is an L2 smart contract platform for decentralized applications on Ethereum. Blast has an inherent yield generation mechanism, coming from ETH staking and RWA protocols. Blast was founded by Pacman and launched in 2023.

Blast team and investors currently own and govern the protocol. Blast's investors include Paradigm, Standard Crypto, Santiago, etc.

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Blast

# Blast Revenue Methodology

## 1. Overview

Blast revenue represents the total fees collected by the Blast Layer 2 blockchain from transaction processing. This metric captures both L2 execution fees paid for transaction processing and L1 data availability fees paid for posting transaction data to Ethereum. The calculation treats all network fees as protocol revenue, reflecting the economic value generated by the blockchain's operation.

## 2. Data sources

- **Blast blockchain transactions**: Complete transaction records from the Blast L2 blockchain including gas usage metrics, effective gas prices, and L1 fee components
- **End-of-day token price feeds**: ETH price data used for USD conversion of fee amounts
- **Token metadata**: WETH token information for proper fee token identification and decimal handling

## 3. Step-by-step calculation

### Component A: Transaction gas fee extraction
- **Purpose**: Extracts gas usage and pricing data from individual Blast transactions
- **Logic**: Processes all Blast transactions to capture gas consumption metrics. Extracts `gas_used` (L2 execution gas), `effective_gas_price` (actual gas price paid), and L1-specific components including `l1_gas_used`, `l1_gas_price`, `l1_fee_scalar`, and `l1_fee`. Converts gas prices from wei to ETH by dividing by 10^18. Associates all fees with the WETH token address since gas payments are made in ETH
- **Key fields**: `gas_used`, `effective_gas_price`, `l1_gas_used`, `l1_gas_price`, `l1_fee_scalar`, `l1_fee`, `token_address`

### Component B: Daily fee aggregation
- **Purpose**: Aggregates transaction-level gas fees into daily totals
- **Logic**: Groups transactions by day and token address. Calculates L2 execution fees by multiplying `gas_used` by `effective_gas_price` for each transaction and summing daily totals. Computes L1 data availability fees using two methods: either the direct `l1_fee` field (converted from wei to ETH) or the computed product of `l1_gas_used`, `l1_gas_price`, and `l1_fee_scalar` (also converted to ETH). Uses the non-null result between these two L1 fee calculations to handle different fee calculation approaches
- **Key fields**: `fee_amount` (L2 fees), `l1_fee_amount` (L1 fees), aggregated by day and token

### Component C: Total fee combination and USD conversion
- **Purpose**: Combines L1 and L2 fees and converts to USD
- **Logic**: Sums L2 execution fees (`fee_amount`) and L1 data availability fees (`l1_fee_amount`) to get total daily fees in ETH. Converts the combined ETH amounts to USD using end-of-day price feeds, with the conversion initially using Ethereum as the chain identifier for price lookup since fees are denominated in ETH. After USD conversion, recasts the `chain_id` from ethereum to blast for proper protocol categorization
- **Key fields**: Combined `fees` in USD, `chain_id` set to blast

### Final aggregation
- **Combining components**: Total fees represent the sum of L2 execution costs and L1 data availability costs for all transactions processed daily
- **Currency conversion**: ETH-denominated fees converted to USD using end-of-day price feeds with Ethereum pricing
- **Time aggregation**: Daily aggregation with timestamp truncation to day boundaries
- **Final calculation**: Revenue equals the total combined fees, treating all network fees as protocol revenue with schema standardization and gap filling applied

*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.

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