# Native Relay Revenue Methodology

## 1. Overview

Revenue is defined as the portion of fees that is retained by Native Relay, as determined by its take rate. The earnings generated from the protocol's services before the deduction of operating expenses, token incentives, and cost of revenue are represented by this metric. For Native Relay, revenue is currently reported as zero because the protocol's share of the funding fee is set to zero, and trading fees are not recorded on-chain.

## 2. Data sources

- **None**: This metric is set to a constant value, and blockchain events are not directly consumed.

## 3. Step-by-step calculation

### Component A: Revenue valuation

- **Purpose**: To determine the daily revenue generated by Native Relay.
- **Logic**: Revenue is hardcoded to zero for all active chains and intervals. This value is generated to reflect that no protocol fees are currently retained by Native Relay.

## Why revenue is zero
The protocol's share of the funding fee is recorded on-chain beside the share paid to liquidity providers and is currently set to zero. Additionally, the trading fee is quoted into the rate at which an order is filled and is not recorded on-chain, so it cannot be attributed. Zero is therefore presented as a reported figure rather than an estimate, a placeholder, or missing data.

*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

Exchanges (DEX)

Native Relay streams Core prices to wallets and aggregators and routes their orders into Native, while Native Pro exposes the Core matching engine to institutions over direct, exchange-grade interfaces. Trades settle non-custodially through NativeRouter and CreditVault contracts deployed on each supported EVM chain. Native applies standard maker and taker fees on Native Core: 0% on stablecoin and softpeg markets, 0.1% taker and 0.02% maker on majors and RWAs, and 0.001% taker with 0% maker on selected markets. Integration partners routing through Native Relay negotiate a customized additional Relay fee, typically set at zero or minimal, on top of the standard maker and taker rates.

Native is a non-custodial trading infrastructure for on-chain spot markets that decouples pricing logic from asset settlement. Native Core is an on-chain sovereign state machine where price discovery and central limit order book matching are finalized, while Native Pool consists of distributed smart contracts on EVM chains that custody assets and enforce settlement. Rather than pricing trades through AMM pools, Native matches orders in its own engine and exports the resulting liquidity to integrating chains and distribution surfaces.

Native serves wallets, aggregators and intent platforms that route order flow into Native to source on-chain liquidity, institutions and professional market makers that integrate through Native Pro, and liquidity providers that supply the permissionless vaults used for settlement.

Native Relay

Revenue

Revenue

Chain breakdown