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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etherscan

website

Blockchains (L1)

MultiversX

# MultiversX Revenue Methodology

## 1. Overview

Elrond revenue represents the daily USD value of developer rewards distributed by the Elrond blockchain network. This metric captures the protocol's revenue generation through its epoch-based reward system, where a portion of transaction fees and block rewards are allocated to developers contributing to the ecosystem. The calculation aggregates daily developer reward distributions in EGLD tokens and converts them to USD values.

## 2. Data sources

- **Elrond epoch data**: Developer reward distribution records from Elrond's epoch-based consensus mechanism, including timestamps, block hashes, and reward amounts
- **Blockchain reward system**: Native EGLD token rewards distributed to developers through the protocol's incentive structure
- **External price data**: End-of-day price feeds for EGLD token from CoinGecko API
- **Network metadata**: Elrond chain identifiers and token information (EGLD symbol, coingecko_id 'elrond-erd-2')

## 3. Step-by-step calculation

### Component A: Developer rewards extraction
- **Purpose**: Extract and standardize daily developer reward data from Elrond's epoch system
- **Logic**: The system collects developer reward distributions from Elrond's scraper system, which monitors the blockchain's epoch-based reward mechanism. Each record includes the distribution timestamp, block hash for the epoch, previous checkpoint block hash, and the daily developer reward amount in EGLD tokens. The data is deduplicated to ensure each reward distribution is counted only once.
- **Key fields**: `block_timestamp` for timing, `block_hash` for epoch identification, `daily_developer_rewards` for EGLD amounts, and static values for `chain` ('elrond'), `token_symbol` ('EGLD'), and `coingecko_id` ('elrond-erd-2')

### Component B: Daily aggregation
- **Purpose**: Aggregate developer rewards by day and apply business classifications
- **Logic**: The raw developer rewards are aggregated by day using timestamp truncation to daily boundaries. Each day's data is classified with business metadata including business line as 'Blockchain', market sector as 'blockchains_l1', and business segment as 'blockchain'. The aggregation sums all developer rewards within each day, grouped by chain, business classifications, contract name, token symbol, and coingecko identifier.
- **Key fields**: `daily_timestamp` from truncated timestamps, `developer_rewards` as the sum of daily reward amounts, and business classification fields

### Component C: USD conversion
- **Purpose**: Convert EGLD developer rewards to USD values using historical prices
- **Logic**: The aggregated daily developer rewards in EGLD are converted to USD using end-of-day price feeds from CoinGecko. The conversion uses the `convert_to_usd_cg` macro which matches the daily timestamp with corresponding EGLD/USD exchange rates, multiplying the EGLD reward amounts by the appropriate daily price.
- **Key fields**: `developer_rewards` amounts converted from EGLD to USD values using historical price data

### Final aggregation
- **Combining components**: The USD-converted developer rewards are processed through the finalization pipeline where the `developer_rewards` field is renamed to `revenue` to align with the revenue metric specification
- **Currency conversion**: USD conversion occurs at the daily level using end-of-day EGLD prices from CoinGecko, ensuring consistent valuation timing across all records
- **Time aggregation**: Data is aggregated and reported at daily boundaries using timestamp truncation, with the `timestamp_grain` field set to 'day'
- **Final calculation**: The final revenue metric represents the total USD value of developer rewards distributed by the Elrond protocol each day, processed through the `finalize_metric_revenue` macro with a 'fill_zeros' strategy to ensure complete time series data and standardized API output formatting

*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.

MultiversXEGLD

Revenue

Revenue

Competitive landscape