Why crypto is a lot different today than in 2017

There's not one or two, but multiple projects that generate protocol revenue.

Definition of protocol revenue:

Share of fees/yield that go to the protocol’s treasury or directly to its token holders through e.g. a burn mechanism (similar to a stock buyback).

Top dapps & blockchains based on cumulative protocol revenue.

Past 30 days.

Example #1: Aave, a lending protocol built on Ethereum.

Aave generates $1.6M in aggregate interest rate revenue per day. Of that, $170k is directed to the protocol's treasury that is managed by $AAVE holders.

Example #2: Compound, a lending protocol built on Ethereum.

Compound generates $1.2M in aggregate interest rate revenue per day. Of that, $122k is directed to the protocol's treasury that is managed by $COMP holders.

Example #3: Lido, a staking derivatives protocol built on Ethereum.

Lido earns $732k in aggregate staking reward revenue per day. Of that, $73k is directed to the protocol's treasury that is managed by $LDO holders.

Example #4: Yearn.finance, an asset management protocol built on Ethereum.

Yearn generates $720k in aggregate yield per day. Of that, $236k is directed to the protocol's treasury that is managed by $YFI holders.

Example #5: SushiSwap, an exchange protocol built on Ethereum.

SushiSwap generates $1.6M in aggregate trading fee revenue per day. Of that, $274k is directed to the protocol's treasury that is managed by $SUSHI holders.

Example #6: Uniswap, an exchange protocol built on Ethereum.

Uniswap generates $5.2M in aggregate trading fee revenue per day. Of that, $0 is directed to the protocol's treasury that is managed by $UNI holders.

Example #7: Trader Joe, an exchange protocol built on Avalanche.

Trader Joe generates $440k in aggregate trading fee revenue per day. Of that, $73k is directed to the protocol's treasury that is managed by $JOE holders.

Example #8: Benqi, a lending protocol built on Avalanche.

BENQI generates $279k in aggregate interest rate revenue per day. Of that, $55k is directed to the protocol's treasury that is managed by $QI holders.

This post was originally published on Twitter.

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