diff --git a/api-reference/overview/billing.mdx b/api-reference/overview/billing.mdx index 7edfa81a..5cd9b9f3 100644 --- a/api-reference/overview/billing.mdx +++ b/api-reference/overview/billing.mdx @@ -6,7 +6,7 @@ icon: "file-invoice-dollar" Pricing for API is charged along two dimensions. All details can be found at [dune.com/pricing](https://dune.com/pricing) -Failed executions are charged. If you execute a query but never pull the results, you are only charged for the execution. +Failed executions are now charged. If you execute a query but never pull the results, you are only charged for the execution. | Dimension | Charge | diff --git a/data-catalog/crypto-metrics-data-dictionary.mdx b/data-catalog/crypto-metrics-data-dictionary.mdx new file mode 100644 index 00000000..079bc570 --- /dev/null +++ b/data-catalog/crypto-metrics-data-dictionary.mdx @@ -0,0 +1,191 @@ +--- +title: "Crypto Metrics Data Dictionary" +description: "A comprehensive guide to key crypto metrics, their definitions, formulas, and Dune query examples" +icon: "chart-line" +--- + +This comprehensive guide provides definitions, formulas, use cases, and practical Dune query examples for key crypto metrics across three main categories: **Blockchain**, **Protocol**, and **Wallet** metrics. + + +**Metrics Dictionary Notice** + +This metrics dictionary provides blockchain analytics queries as starting points for analysis. Please note: + +**General Information:** +- These queries are educational examples and may need customization +- Blockchain data can vary across different sources and time periods + +**Best Practices:** +- Review and understand each query before using it +- Test on small datasets first +- Modify queries to fit your specific needs + +These are learning resources and starting templates for your analysis. + + +## Blockchain Metrics + +Metrics that measure the overall health, activity, and economic performance of blockchain networks. + + + + DEX trades volume across multiple blockchain networks + + + Average cost in USD to execute a transaction + + + Total fees collected by sequencers minus L1 data costs + + + Net token flow in/out of exchanges + + + Percentage of total supply staked on PoS chains + + + Comprehensive measure of all economic activity onchain + + + Market Value to Realized Value ratio for assessing cryptocurrency valuation + + + Realized Store of Value for L1 tokens through staking and DeFi usage + + + Real Economic Value tracking actual fees users pay + + + Total Value Locked measuring trust and liquidity committed + + + +## Protocol Metrics + +Metrics that evaluate the performance, adoption, and sustainability of specific DeFi protocols and applications. + + + + Total fees generated by the protocol + + + Total value of transactions processed by protocol + + + Fees collected from users per transaction or period + + + Total value of assets held in protocol treasury + + + Unique addresses interacting daily or monthly + + + Fees generated per dollar of TVL + + + Breakdown of first-time vs repeat users + + + Total gas consumed and fees paid by protocol users + + + Total tokens minted minus protocol-controlled holdings + + + Gross Merchandise Value - total value of all transactions + + + +## Wallet Metrics + +Metrics that analyze user behavior, wallet distribution, and individual wallet activity patterns. + + + + Distribution of holdings across wallet tiers + + + Average number of transactions per wallet per period + + + Number of wallets with at least one transaction + + + Analysis of wallets grouped by creation date + + + Wallets active on multiple blockchains + + + Percentage of wallets interacting with DeFi protocols + + + Mean transaction size per wallet + + + Rate of new wallet creation over time + + + Ratio of inactive to active wallets + + + Segmentation by transaction count tiers + + + +--- + +## Detailed Metric Definitions + +| Metric Name | Definition | Formula | Use Case | Traditional Finance Analogy | Category | Dune Query Example | +|-------------|------------|---------|----------|------------------------------|-----------|-------------------| +| **DEX Volume Crosschain** | DEX Trades volume across chains | COUNT(transactions), SUM(value × price) | Track network DEX usage and economic throughput | Similar to payment processing volume | Blockchain | [Cross-chain DEX Volume](https://dune.com/queries/5699811) | +| **Average Transaction Fee** | Average cost in USD to execute a transaction | Total Fees / Transaction Count | Evaluate network accessibility and congestion | Similar to transaction processing fees | Blockchain | [Average Transaction Fees](https://dune.com/queries/5544342) | +| **L2 Network Revenue Crosschain** | Total fees collected by sequencers minus L1 data costs | Σ(L2 Gas Fees + Priority Fees) - L1 Data Costs | Assess L2 profitability, sustainability, and sequencer incentives | Similar to network infrastructure revenue | Blockchain | [L2 Network Revenue](https://dune.com/queries/5699834) | +| **Exchange Netflows** | Net token flow in/out of exchanges (inflow - outflow) | Deposits - Withdrawals | Gauge selling pressure; negative = accumulation, positive = distribution | Similar to fund flows data | Blockchain | [Exchange Netflows](https://dune.com/queries/5699860) | +| **Staking Ratio** | Percentage of total supply staked (PoS chains) | Staked Supply / Total Supply × 100 | Measure network security and token holder confidence | Similar to bond participation rate | Blockchain | [Staking Ratio](https://dune.com/queries/5700362/9255801) | +| **Total Economic Activity** | Comprehensive measure of all economic activity onchain | Chain Fees + MEV + Settlement Volume (DEX + NFT + Filtered Transfers) + App Fees | Valuing blockchains as economies, not just fee machines | Similar to GDP measurement | Blockchain | [Total Economic Activity](https://dune.com/queries/5703816) | +| **MVRV** | Market Value to Realized Value ratio - assesses if a cryptocurrency is overvalued or undervalued | Market Cap / Realized Value | Identify market tops/bottoms; MVRV > 3.5 often indicates overvaluation | Similar to Price-to-Book ratio | Blockchain | [MVRV Analysis for Ethereum](https://dune.com/queries/5640249) | +| **RSOV** | For (L1s only) Realized Store of Value - quantifies long-term value drivers of L1 tokens through staking and DeFi usage | Realized Value Staked + Realized Value in DeFi | Evaluate L1 token adoption as store of value asset; compare growth expectations | Similar to measuring bank deposits + investment AUM | Blockchain | [RSOV Dashboard](https://dune.com/sc_research/rsov) | +| **REV** | Real Economic Value - tracks actual fees users pay to use blockchain, excluding inflationary rewards | Transaction Fees + MEV Tips | Measure genuine demand for blockspace; compare economic intensity across chains | Similar to revenue or GDP for blockchains | Blockchain | [REV Analysis](https://dune.com/queries/5698900) | +| **TVL** | Total Value Locked - total value of assets locked or staked in a blockchain/protocol | Σ(Asset Amount × Current Price) | Measure trust and liquidity committed; compare DeFi protocol adoption | Similar to Assets Under Management (AUM) | Blockchain | [TVL Analysis](https://dune.com/queries/5699034) | +| **Protocol Revenue** | Total fees generated by the protocol | Σ(Protocol Fees) | Evaluate protocol profitability and sustainability | Direct equivalent to company revenue | Protocol | [Protocol Revenue](https://dune.com/queries/5576224) | +| **DEX Trading Volume** | Total value of transactions processed by protocol | Σ(Transaction Values) | Measure protocol's market share and growth | Similar to Gross Merchandise Value (GMV) | Protocol | [DEX Trading Volume](https://dune.com/queries/5576286) | +| **Fee Generation** | Fees collected from users per transaction or period | Total Fees / Time Period | Analyze protocol's fee efficiency and user costs | Similar to commission rates | Protocol | [Fee Generation](https://dune.com/queries/5576292) | +| **Protocol Treasury Value** | Total value of assets held in protocol treasury | Σ(Treasury Assets × Price) | Assess protocol's financial reserves and runway | Similar to cash reserves/balance sheet | Protocol | [Protocol Treasury Value](https://dune.com/queries/5576299) | +| **Daily/Monthly Active Addresses** | Unique addresses interacting daily or monthly | COUNT(DISTINCT address) per period | Track user retention and growth patterns | Standard DAU/MAU metrics | Protocol | [Daily/Monthly Active Users](https://dune.com/queries/5576322) | +| **Protocol Efficiency Ratio** | Fees generated per dollar of TVL | Total Fees / TVL | Compare capital efficiency across protocols | Similar to Return on Assets (ROA) | Protocol | [Protocol Efficiency Ratio](https://dune.com/queries/5576378) | +| **New vs Returning Users** | Breakdown of first-time vs repeat users | New Users / Total Users | Measure user acquisition vs retention | Similar to customer acquisition metrics | Protocol | [New vs Returning Users](https://dune.com/queries/5576381?Blockchain_t6c1ea=ethereum&Protocol_t6c1ea=uniswap) | +| **Gas Fees by Protocol Users** | Total gas consumed and fees paid by protocol users | Σ(Gas Used × Gas Price) | Evaluate protocol's cost to users and efficiency | Similar to transaction costs | Protocol | [Gas Usage/Fees by Protocol Users](https://dune.com/queries/5576409) | +| **Outstanding Supply** | Total tokens minted minus protocol-controlled holdings | Total Supply - (Treasury + DAO + Foundation + Vesting Contracts) | Find smarter circulating supply | Outstanding Shares in equities | Protocol | [Outstanding Supply](https://dune.com/queries/5700697?Blockchain_t6c1ea=ethereum&Token_Contract_t6c1ea=0x1f9840a85d5af5bf1d1762f925bdaddc4201f984&Token_Decimals_t6c1ea=18&Protocol_Address_1_t6c1ea=0x1a9c8182c09f50c8318d769245bea52c32be35bc&Protocol_Address_2_t6c1ea=0x4b4e140d1f131fdad6fb59c13af796fd194e4135&Protocol_Address_3_t6c1ea=0xe3953d9d317b834592ab58ab2c7a6ad22b54075d&Protocol_Address_4_t6c1ea=0x3d30b1ab88d487b0f3061f40de76845bec3f1e94+&Protocol_Address_5_t6c1ea=0x0000000000000000000000000000000000000000) | +| **GMV** | Gross Merchandise Value - total value of all transactions | GMV=∑(Price of Each Item Sold×Quantity Sold) | Suggests that a protocol or marketplace is actively used | Similar to Gross Merchandise Value | Protocol | [GMV Analysis](https://dune.com/queries/5700620/9256236) | +| **Wallet Balance Distribution** | Distribution of holdings across wallet tiers | Grouped by balance ranges | Analyze wealth concentration and user segments | Similar to wealth distribution analysis | Wallet | [Wallet Balance Distribution](https://dune.com/queries/5576417) | +| **Transaction Frequency** | Average number of transactions per wallet per period | Total Transactions / Active Wallets | Measure user engagement and activity levels | Similar to transaction frequency in banking | Wallet | [Transaction Frequency Distribution](https://dune.com/queries/5576435) | +| **Active Wallet Count** | Number of wallets with at least one transaction | COUNT(DISTINCT active_wallets) | Track network growth and adoption | Similar to active account metrics | Wallet | [Active Wallet Count](https://dune.com/queries/5576448) | +| **Wallet Age/Cohort Analysis** | Analysis of wallets grouped by creation date | Grouped by first transaction date | Understand user retention and lifecycle | Similar to customer cohort analysis | Wallet | [Wallet Age/Cohort Analysis](https://dune.com/queries/5576464) | +| **Cross-chain Activity** | Wallets active on multiple blockchains | Wallets on Chain A ∩ Chain B | Measure multi-chain adoption and user sophistication | Similar to multi-product usage | Wallet | [Cross-chain Activity](https://dune.com/queries/5576492) | +| **DeFi Participation Rate** | Percentage of wallets interacting with DeFi protocols | DeFi Users / Total Active Wallets × 100 | Gauge DeFi adoption and market penetration | Similar to investment product adoption rate | Wallet | [DeFi Participation Rate](https://dune.com/queries/5576505) | +| **Average Transaction Value** | Mean transaction size per wallet | Total Value / Transaction Count | Profile user behavior and wealth levels | Direct equivalent to average transaction size | Wallet | [Average Transaction Value](https://dune.com/queries/5576567) | +| **Wallet Growth Rate** | Rate of new wallet creation over time | (New Wallets(t) - New Wallets(t-1)) / New Wallets(t-1) | Track adoption acceleration or deceleration | Similar to new account growth rate | Wallet | [Wallet Growth Rate](https://dune.com/queries/5576596) | +| **Dormant vs Active Ratio** | Ratio of inactive to active wallets | Dormant Wallets / Total Wallets | Assess network health and true active user base | Similar to inactive account ratio | Wallet | [Dormant vs Active Ratio](https://dune.com/queries/5576600) | +| **First-time vs Power Users** | Segmentation by transaction count tiers | Categorized by lifetime transactions | Identify user segments for targeted analysis | Similar to customer segmentation | Wallet | [First-time vs Power Users](https://dune.com/queries/5576625) | + +--- + +## Framework Credits + +This metrics dictionary was compiled with contributions from: + +- **[Skycatcher](https://skycatcher.xyz)** - RSOV metric +- **[Artemis](https://artemis.xyz)** - Total Economic Activity and Outstanding Supply metrics +- **[Blockworks](https://blockworks.co)** - REV metric +- **[DefiLlama](https://defillama.com)** - TVL metric + +## Additional Resources + +- [Dune Query Editor](https://dune.com/queries) - Create your own metrics +- [Data Catalog Overview](/data-catalog/overview) - Explore available data sources +- [Query Engine Documentation](/query-engine/overview) - Learn DuneSQL syntax +- [Community Queries](https://dune.com/discover/content/trending) - Discover more metric implementations +- [Dune Agent](https://dune.com/agent) - AI-powered query assistance diff --git a/mint.json b/mint.json index 848595eb..e2b1ea65 100644 --- a/mint.json +++ b/mint.json @@ -196,6 +196,7 @@ "group": "", "pages": [ "data-catalog/overview", + "data-catalog/crypto-metrics-data-dictionary", "data-catalog/data-freshness", "data-catalog/bring-your-own-data" ]