Video miners (a.k.a orchestrators) perform transcoding work through the protocol and receive fees from users (a.k.a broadcasters) who assign tasks to them in return for an agreed upon fee (supply-side fees).

Livepeer is a video infrastructure protocol built on Ethereum. Livepeer was founded by Doug Petkanics & Eric Tangand and launched in 2017.

LPT holders own and govern the protocol. They do not currently take a cut of the total fees paid by broadcasters (revenue). Livepeer’s investors include Northzone, Digital Currency Group, Collaborative Fund, etc.

governance

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DePIN

Livepeer

# Livepeer Revenue Methodology

## 1. Overview

Livepeer revenue represents the portion of protocol fees that Livepeer recognizes as revenue. Currently, this metric is explicitly set to zero across all time periods, indicating that Livepeer does not recognize any revenue streams from its transcoding infrastructure services. While the protocol collects transcoding fees from users, these are not classified as protocol revenue under the current methodology.

## 2. Data sources

The calculation uses the following raw data sources:
- **Blockchain events**: Parsed `TicketBroker_WinningTicketRedeemed_event` logs from Ethereum and Arbitrum blockchains, representing transcoding fee payments in Livepeer's decentralized video infrastructure
- **Token data**: WETH (Wrapped Ethereum) token addresses on both Ethereum (`0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2`) and Arbitrum (`0x82af49447d8a07e3bd95bd0d56f35241523fbab1`)
- **External data**: End-of-day token price feeds for USD conversion and token metadata for decimal correction

## 3. Step-by-step calculation

### Component A: Transcoding fee extraction
- **Purpose**: Extract all transcoding fee payments from Livepeer's ticket broker system across supported chains
- **Logic**: Parse `TicketBroker_WinningTicketRedeemed_event` logs from both Ethereum and Arbitrum blockchains. Filter out any removed or invalid events to ensure data quality. Extract the `faceValue` field representing the fee amount paid in WETH tokens. Classify each fee as belonging to the 'Transcoding' business line under the 'infrastructure' market sector. Map events to their respective chains ('ethereum' or 'arbitrum') and include transaction metadata like block timestamp, transaction hash, and log index for traceability.
- **Key fields**: `faceValue` (fee amount in WETH), `block_timestamp` (event timing), `address` (account paying fees), `transaction_hash` and `log_index` (event identification)

### Component B: USD conversion and daily aggregation  
- **Purpose**: Convert raw WETH fee amounts to standardized daily USD totals
- **Logic**: Group transcoding fee events by day using the block timestamp truncated to daily boundaries. Apply decimal correction to convert raw token amounts to proper WETH units based on token metadata. Convert WETH amounts to USD values using end-of-day price feeds for accurate daily pricing. Aggregate converted amounts by day, chain, and other relevant dimensions to create daily fee totals. Apply the finalization macro to ensure consistent schema, validate data integrity, and fill any missing days with zero values to maintain complete time series coverage.
- **Key fields**: `timestamp` (daily boundary), `chain_id` (blockchain identifier), `fees` (daily USD total), `token_address` (WETH contract address)

### Final aggregation
- **Combining components**: Take the complete structure and metadata from the processed daily fees data, including timestamps, chains, and dimensional attributes
- **Currency conversion**: All underlying amounts are converted to USD using end-of-day price feeds, though the final revenue values are set to zero
- **Time aggregation**: Data is aggregated to daily boundaries with complete time series coverage ensured through forward-filling strategies  
- **Final calculation**: Explicitly set all revenue values to zero regardless of the underlying transcoding fee amounts, indicating that Livepeer currently does not recognize any portion of collected fees as protocol revenue. Apply final schema validation and chain availability filtering to ensure data consistency.

*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.

LivepeerLPT

Revenue

Revenue

Competitive landscape

Chain breakdown