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Token Terminal 📊·2025-08-05 20:53
Definition of Blockchain GDP - Blockchain GDP measures the USD value of end-user fees for interacting with a chain's applications [1] - The GDP metric excludes gas fees paid to the underlying chain [1] - On-chain transactions are classified as fees when the application can apply a take rate (0-100%) [1] - The GDP metric considers the total fee paid by the end user [1] - For example, if a borrower on Aave pays $100 in interest, the fee equals $100 [2] Rationale for Using Fees - The GDP metric is based on fees, not revenue, to include end-user payments from applications with a 0% take rate, such as Uniswap & Morpho [2]