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]

Definition of Blockchain GDP - Blockchain GDP measures the USD value of what end users pay in Fees to interact with a chain's applications [1] - GDP excludes gas fees paid to the underlying chain [1] - An onchain transaction by an application's end user is classified as a Fee whenever the application is entitled to apply a take rate (0-100%) on it [1] - The GDP metric takes into account the total Fee paid by the end user [1] - Example: a borrower on Aave pays $100 in interest on their loan; the Fee equals $100 [2] - The GDP metric is intentionally based on Fees, and not Revenue [2] - The GDP metric takes into account end user payments of widely used applications that have a 0% take rate, such as Uniswap & Morpho [2]

Definition of Blockchain GDP - The GDP metric measures the USD value of what end users pay in Fees to interact with a chain's applications [1] - The GDP metric excludes gas fees paid to the underlying chain [1] - An onchain transaction by an application's end user is classified as a Fee whenever the application is entitled to apply a take rate (0-100%) on it [1] - The GDP metric takes into account the total Fee paid by the end user [1] Calculation and Application - Example: a borrower on Aave pays $100 in interest on their loan; the Fee equals $100 [2] - The GDP metric is intentionally based on Fees, and not Revenue, so that the end user payments of widely used applications that have a 0% take rate, such as Uniswap & Morpho, are taken into account [2]

Definition of Blockchain GDP - Blockchain GDP measures the USD value of end-user payments in fees for interacting with a chain's applications [1] - The GDP metric excludes gas fees paid to the underlying chain [1] - An on-chain transaction is classified as a Fee when the application can apply a take rate (0-100%) on it [1] - The GDP metric considers the total Fee paid by the end user [1] Calculation and Rationale - Example: A borrower on Aave pays $100 in interest; the Fee equals $100 [2] - The GDP metric is based on Fees, not Revenue, to include end-user payments from applications with a 0% take rate, like Uniswap & Morpho [2]