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

NEAR Protocol is a smart contract platform for decentralized applications (a blockchain). NEAR Protocol was founded by Alexander Skidanov & Ilya Polosukhin and launched in 2017.

NEAR holders own and govern the protocol. They currently take (burn) all of the total transaction fees paid by users (revenue). NEAR Protocol's investors include a16z, Pantera Capital, Libertus, etc.

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NEAR Protocol

# near Arpu Methodology

## 1. Overview

Arpu (Average Revenue Per User) measures the average economic value generated by each active user on the NEAR network. This metric is utilized to assess the monetization efficiency of the protocol by relating the total revenue captured from network activity—including core protocol gas consumption and product-specific fees—to the daily active user base. It provides a standardized view of how effectively the network and its associated products, such as NEAR Intents, generate value from their participants.

## 2. Data sources

- **Revenue**: Derived from the Revenue metric
- **Active users (daily)**: Derived from the Active users (daily) metric

## 3. Step-by-step calculation

### Component A: NEAR Protocol gas revenue capture

- **Purpose**: Captures the value of native assets consumed for transaction execution on the NEAR blockchain.
- **Logic**: Revenue is calculated by aggregating the native asset amounts recorded in the `tokens_burnt` fields from both transaction and receipt records. These values represent the protocol-level fees that are permanently removed from circulation during network operations.

### Component B: NEAR Intents treasury-based revenue tracking

- **Purpose**: Captures protocol-specific revenue generated by the NEAR Intents product.
- **Logic**: Revenue for NEAR Intents is determined by monitoring daily balance increases in the dedicated DAO treasury accounts: `1csfundsadmin.sputnik-dao.near` and `fefundsadmin.sputnik-dao.near`. Day-over-day changes in non-staked balances are calculated, with values clamped to zero to ensure only fee inflows are captured while excluding withdrawals or internal transfers.

### Component C: Protocol-wide user activity identification

- **Purpose**: Identifies the unique daily active user base across all network activities.
- **Logic**: Active users are identified through multiple transaction patterns. For standard NEAR Protocol transactions, the signer address is utilized. For meta-transactions, the receiver address is extracted from `DELEGATE_ACTION` records to accurately identify the end user. Activity is further supplemented by extracting user addresses from `token_diff` and `transfer` events emitted by `intents.near` contracts, ensuring comprehensive coverage of participants in the NEAR Intents ecosystem.

### Component D: Aggregation and ARPU calculation

- **Purpose**: Combines revenue and user data to produce the final average value.
- **Logic**: Total revenue from protocol gas and product-specific treasuries is summed and converted to USD using end-of-day price feeds. This total revenue is divided by the count of active users (daily). All amounts are normalized by decimal precision, and the final values are aggregated with daily granularity using UTC day boundaries.

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

NEAR ProtocolNEAR

Average revenue per user (ARPU)

Average revenue per user (ARPU)

Competitive landscape