# Near Protocol Revenue Methodology

## 1. Overview

Revenue measures the value captured by the protocol through its native fee-burning mechanism. On Near Protocol, a significant portion of transaction fees is burnt, effectively removing those assets from circulation and accruing value to the protocol. This metric tracks the USD value of these burnt assets across Near Protocol and Near Intents.

## 2. Data sources

- **Blockchain events**: Transaction and receipt records from the Near Protocol chain
- **External data**: End-of-day price feeds for the native NEAR asset and various metadata for asset identification

## 3. Step-by-step calculation

### Component A: Gas burn extraction

- **Purpose**: Captures the amount of NEAR assets burnt during transaction and receipt execution
- **Logic**: Burnt asset amounts are extracted from two primary sources. In transaction records, the `receipt_conversion_tokens_burnt` field is parsed. In receipt records, the `tokens_burnt` field is parsed. These values represent the 70% of total fees that the protocol retains and burns, rather than the 30% portion distributed to contract creators.
- **Key fields**: `tokens_burnt`, `receipt_conversion_tokens_burnt`

### Component B: Near Intents revenue assignment

- **Purpose**: Establishes the protocol-retained revenue for the Near Intents product
- **Logic**: Revenue for Near Intents is set to zero. While swap fees are collected and processed within the `intents.near` contract, these fees are not retained by the protocol and are instead distributed to supply-side participants.
- **Key fields**: `revenue` (hardcoded to zero)

### Component C: USD conversion and final aggregation

- **Purpose**: Normalizes the captured burnt amounts to USD for consistent reporting
- **Logic**: Burnt asset quantities are normalized by a decimal precision of 24. These daily totals are multiplied by the end-of-day price of the native NEAR asset. Results are aggregated by product and timestamp using UTC day boundaries.
- **Key fields**: `price_usd`, `block_timestamp`

*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

Blockchains (L1)

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.