Validators process transactions and receive validator rewards (supply-side fees).

MultiversX is a smart contract platform for decentralized applications (a blockchain). MultiversX was founded by Beniamin Mincu and launched in 2018.

EGLD tokenholders own and govern the protocol. They currently take a cut of the transaction fees paid and give the cut to smart contract deployers (revenue).

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Blockchains (L1)

MultiversX

# MultiversX Earnings Methodology

## 1. Overview

The Elrond earnings metric measures the net profitability of the Elrond blockchain by calculating the difference between revenue and expenses. Revenue represents developer rewards paid out by the protocol, while expenses represent token incentives (newly minted tokens) distributed to network participants. This metric answers the business question: "What is the net financial performance of the Elrond protocol after accounting for token-based costs?" The calculation follows the standard formula: Earnings = Revenue - Expenses.

## 2. Data sources

The calculation relies on the following raw data sources:
- **Elrond blockchain epoch metrics**: Scraped epoch-level data containing developer rewards and token minting information, including block timestamps and hash references for epoch tracking
- **End-of-day price feeds**: CoinGecko price data for EGLD token (identifier: elrond-erd-2) used for USD conversion
- **Elrond blockchain block data**: Block timestamps and hash identifiers used to establish epoch boundaries and daily aggregation periods

## 3. Step-by-step calculation

### Component A: Revenue calculation
- **Purpose**: Calculates daily revenue from developer rewards distributed by the Elrond protocol
- **Logic**: Extracts `daily_developer_rewards` values from scraped Elrond epoch metrics data. Aggregates these rewards by day using timestamp truncation to daily boundaries. Applies business classification metadata including business line as 'Blockchain', market sector as 'blockchains_l1', and business segment as 'blockchain'. Converts native EGLD amounts to USD using end-of-day CoinGecko price feeds.
- **Key fields**: `daily_developer_rewards` (raw EGLD amounts), `timestamp` (epoch timestamps), `block_hash` (epoch identifiers), `developer_rewards` (aggregated daily amounts)

### Component B: Expenses calculation  
- **Purpose**: Calculates daily expenses from token incentives (newly minted tokens) distributed by the protocol
- **Logic**: Extracts `daily_new_minted` values from the same scraped Elrond epoch metrics data source. Aggregates token incentives by day using the same daily timestamp truncation. Applies identical business classification metadata. Converts native EGLD token amounts to USD using end-of-day CoinGecko price feeds. The aggregated token incentives become the expenses component.
- **Key fields**: `daily_new_minted` (raw EGLD minting amounts), `token_incentives` (aggregated daily amounts), same timestamp and block hash references

### Final aggregation
- **Combining components**: Revenue and expenses components are combined using the calculate_earnings macro, which performs a simple subtraction: earnings = revenue - expenses
- **Currency conversion**: Both components are converted to USD using the same end-of-day CoinGecko price methodology before the earnings calculation
- **Time aggregation**: All data is aggregated to daily boundaries using timestamp truncation, ensuring consistent daily granularity across components
- **Final calculation**: The earnings value represents the net daily profit/loss of the Elrond protocol, calculated as the USD value of developer rewards minus the USD value of newly minted token incentives, with zero-filling applied for missing dates to maintain continuous time series data

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

Net profit (also profits, net income, profitability) — revenue remaining after subtracting expenses.

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Earnings

Earnings

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