⛓️🌐 BREAKING: Applications on @ethereum have generated ~$26.8 billion in user-paid fees since launch.
The 3 biggest contributors to the Ethereum economy or its GDP are: @Tether_to, @Uniswap, and @circle.
⛓️🌐 What is meant by a blockchain's GDP?
▪️ The GDP metric measures the USD value of what end users pay in Fees to interact with a chain’s applications in a given period of time. The GDP metric excludes gas fees paid to the underlying chain.
▪️ 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. The GDP metric takes into account the total Fee paid by the end user.
▪️ Example: a borrower on Aave pays $100 in interest on their loan; the Fee equals $100.
▪️ 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.
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