$6.6 million worth of ETH burned in a single hour 👀
That's almost 1% of all ETH that has ever been burned, just in the last hour!
Source: ethburned.info
We were previously under-reporting @arbitrum transaction fee revenue.
With the updated data model, we can see that Arbitrum actually had significantly higher fee revenue than Bitcoin last Sunday! (Sept 12)
cryptofees.info/history/2021…
Transaction fees for @arbitrum, were previously under-reported.
We've fixed this error, and Arbitrum is now the #6 blockchain on our site!
And speaking of L2s... @optimismPBC is quickly closing in on Bitcoin... 👀
Ethereum's L2 Ecosystem continues to grow!
We've added @StarkWareLtd's StarkNet to L2Fees.info so you can track how their fees compare to other rollups.
New feature! 🎉
CryptoFees.info now supports bundling📦 multiple implementations of the same protocol in the same line.
For example, you can see the total fees generated by all 3 versions of Uniswap, plus Uniswap on Optimism!
The $OP rumors are swirling!
Yesterday, @optimismPBC hit a 2 month high in fees amid token rumors.
Fees for @HopProtocol on Optimism also spiked, as users rushed to bridge funds.
Another great clip from @bankless covering one of our sites!
@TrustlessState & @RyanSAdams cover SimpleStakers.info, our new site for tracking ETH staking derivatives, their APYs, and the discount at which they trade against ETH.
💰 Fee alert: ℹ️
Lending/stablecoin protocol @LiquityProtocol has skyrocketed to the #3 position on CryptoFees, with over $5.5m in fee revenue yesterday.
The majority of fees appear to be from a single account (0x9c5083dd4838E120Dbeac44C052179692Aa5dAC5)
Ethereum has far and away the most builders, with nearly 4,000 monthly active devs. Next is Solana with nearly 1,000 and Bitcoin at about 500.
Ethereum’s overwhelming mindshare helps explain why users have been willing to pay more than $15M in gas fees a day on average.
Another great video from @bankless!
In this clip, @RyanSAdams and @dmihal's roommate discuss the new "L1 Security Cost" metric on l2fees.info, and what it says about the economics of Ethereum's rollup-centric roadmap.
We agree, @VitalikButerin!
@optimismPBC is constantly the #4 blockchain by revenue, right after Bitcoin.
It will be interesting to see how the fee revenue compares to @arbitrum...
I'm excited about how @optimismPBC is getting really substantial sequencer revenues (over $100k today), and they committed to putting a lot of funds into retro public goods funding. Will be great to see how that experiment plays out.
medium.com/ethereum-optimism…
2022 alone had nearly $2 billion in bridge hacks! 🌉
Cross-chain bridges remain a major weak-point of the crypto space.💣
Join us tomorrow in a Twitter Space with our friends from @immunefi and @lifiprotocol to discuss how to manage bridge risk.
lu.ma/7di0hlpi
Metis stopped posting data on-chain, making it less of an Optimistic Rollup, @l2beatcom describes it as an "optimistic chain"
We'll be updating L2Fees.info to indicate this
Big day on @optimismPBC!
Activity from the $OP airdrop shot Optimism up to the #4 chain by fee revenue, generating 60% as much fees as Bitcoin.
Meanwhile, @Uniswap V3 on Optimism was the #2 DEX deployment, with over twice as much revenue as the top non-Uniswap DEX, Trader Joe.
Solana fee data is now live on cryptofees.info!🎉
Solana has been our most-requested protocol, and we're excited to finally have data to show for it!
Check out how much people are paying to use Solana & how it stacks up against other L1s and L2s
cryptofees.info/protocol/sol…
“What we've seen emerge now is CryptoFees...
...who is paying to use the thing, if all of those things are DeFi protocols and Ethereum, that's a very powerful representation of what is actually going on here”
- @kain on @bankless
Yesterday's Beanstalk hack used flash-loans from Aave, generating around $600,000 worth of fees for the protocol.
This has pushed Aave up to the #3 spot on cryptofees.info.
Have you seen the new update to OpenOrgs.info?
Check out this great clip from @sassal0x on @thedailygwei, walking through the announcement and the new features available on the site!
We're avoiding numbering for now, since it implies that we have the "full set" of data.
For example, we don't have Solana data yet, so claiming that Arbitrum is the #6 blockchain may be a bit inaccurate given that Solana may be higher than it.
Chaotic day in crypto means a chaotic day on the CryptoFees board:
Abracadabra shooting up the list as users close out their positions, and Avalanche rising up to the #5 spot.
If our numbers aren't accurate, we'd love to improve it.
Do you have any suggestions? Sounds like it's not possible to get accurate revenue on the day-of?
Today on CyptoFees.info:
- #Ethereum's total fee revenue hits lowest level since June 2021
- #Bitcoin reclaims a spot in the top 5
- @osmosis shoots up to #5, becoming the second-highest DEX after Uniswap
Happy new year! 🎉
2021 has certainly been a crazy year for crypto: prices crossed ATHs, NFTs became household names, and DeFi continued to eat finance.
As we move in to 2022, let's take a look back on this year with CryptoStats' "2021 in Fees".
cryptofees.info/2021
Amid market downturns, Ethereum fee revenue dropped below $12m yesterday
This is the lowest they've been since August 3rd, days before the EIP-1559 hardfork.
cryptofees.info/protocol/eth
And thanks @RyanSAdams for discussing the risk side of the equation when it comes to staking providers.
As Ryan mentions, risk is very difficult to quantify or communicate. But if anyone has a good quantitative framework for understanding this risk, we'd love to include it!
To @TrustlessState's question: these APY numbers come from on-chain data, averaged over the previous week. So they should start to reflect the increased APYs from fees over the coming days.
David and Ryan also looked through the fee revenue on Ethereum L2s as well as other L1s, and discussed the relationship between chain revenue and long-term sustainability.
(2/2)
A new version of cryptofees.info/ has been released containing historical fees of the @AaveAave protocol 🎉🚀
Fees are coming from a thin open source caching layer on top of @graphprotocol
I'd be interested to add in block / inflationary rewards too. If "invest and hold" is the use case, the cost of security is the block reward, so you could say that btc maxis are paying by dilution and it belongs here too
In 2021, Ethereum set itself apart from the pack, with almost $10 billion in fee revenue (almost 10x Bitcoin).
The EIP-1559 upgrade also allowed the protocol to capture much of this value through burns.
But of course, high per-tx fees sent many users seeking cheaper blockspace.
We don't use Github, our code is decentralized and stored on IPFS. Our site has an editor built in for building adapters.
You can find an existing adapter and fork it as a starting point, maybe the NEAR one is a good start
cryptostats.community/discov…
Hmm we use the official Curve subgraph for Curve data, so I'm not sure what the discrepancy is
Adapter code is here, we're always open to contributions!
cryptostats.community/discov…
Community call for @CryptoFeesInfo is in a few hours! Come join at 1pm EST/7pm CEST
Today we'll be chatting about:
- New protocols on cryptofees.info
- Ideas for NFT info sites
- Preview of a new info site 🤫
us02web.zoom.us/j/7380739596…
Pass: Our favorite 🔥 EIP number 😉
moneyprinter.info shows absolute issuance, not net issuance.
We'd love to show net issuance as well, but it's a bit more complicated to calculate! If anyone would like to help, it would be more than welcome!