Crypto metrics data dictionary v2 #797
There are no files selected for viewing
This file contains hidden or bidirectional Unicode text that may be interpreted or compiled differently than what appears below. To review, open the file in an editor that reveals hidden Unicode characters.
Learn more about bidirectional Unicode characters
This file contains hidden or bidirectional Unicode text that may be interpreted or compiled differently than what appears below. To review, open the file in an editor that reveals hidden Unicode characters.
Learn more about bidirectional Unicode characters
| Original file line number | Diff line number | Diff line change |
|---|---|---|
| @@ -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. | ||
|
|
||
| <Note> | ||
| **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. | ||
| </Note> | ||
|
|
||
| ## Blockchain Metrics | ||
|
|
||
| Metrics that measure the overall health, activity, and economic performance of blockchain networks. | ||
|
|
||
| <CardGroup cols={2}> | ||
| <Card title="DEX Volume Crosschain" icon="chart-line" href="https://dune.com/queries/5699811"> | ||
| DEX trades volume across multiple blockchain networks | ||
| </Card> | ||
| <Card title="Average Transaction Fee" icon="coins" href="https://dune.com/queries/5544342"> | ||
| Average cost in USD to execute a transaction | ||
| </Card> | ||
| <Card title="L2 Network Revenue Crosschain" icon="layer-group" href="https://dune.com/queries/5699834"> | ||
| Total fees collected by sequencers minus L1 data costs | ||
| </Card> | ||
| <Card title="Exchange Netflows" icon="arrow-right-arrow-left" href="https://dune.com/queries/5699860"> | ||
|
Collaborator
There was a problem hiding this comment. why not use tokens.transfers for this? |
||
| Net token flow in/out of exchanges | ||
| </Card> | ||
| <Card title="Staking Ratio" icon="hand-holding-heart" href="https://dune.com/queries/5700362/9255801"> | ||
|
Collaborator
There was a problem hiding this comment. I trust hildobby here, would allign with that query |
||
| Percentage of total supply staked on PoS chains | ||
| </Card> | ||
| <Card title="Total Economic Activity" icon="chart-bar" href="https://dune.com/queries/5703816"> | ||
|
Collaborator
There was a problem hiding this comment. putting these things in relation to each other doesn't exactly make a lot of sense to me, if one were to do this, use gas.fees and make a multichain version from the start, but idk why we are trying to spread this metric at all |
||
| Comprehensive measure of all economic activity onchain | ||
| </Card> | ||
| <Card title="MVRV" icon="chart-line" href="https://dune.com/queries/5640249"> | ||
|
Collaborator
There was a problem hiding this comment. again why not use tokens.transfers filtered to native prices, we want that table to be the source for anything transfer related |
||
| Market Value to Realized Value ratio for assessing cryptocurrency valuation | ||
| </Card> | ||
| <Card title="RSOV" icon="shield" href="https://dune.com/sc_research/rsov"> | ||
| Realized Store of Value for L1 tokens through staking and DeFi usage | ||
| </Card> | ||
| <Card title="REV" icon="dollar-sign" href="https://dune.com/queries/5698900"> | ||
|
Collaborator
There was a problem hiding this comment. this is still not how you calculate REV, you want to find the tips that searchers are paying to builders, it usually happens at the end of the block in a simple eth transfer |
||
| Real Economic Value tracking actual fees users pay | ||
| </Card> | ||
| <Card title="TVL" icon="lock" href="https://dune.com/queries/5699034"> | ||
| Total Value Locked measuring trust and liquidity committed | ||
| </Card> | ||
| </CardGroup> | ||
|
|
||
| ## Protocol Metrics | ||
|
|
||
| Metrics that evaluate the performance, adoption, and sustainability of specific DeFi protocols and applications. | ||
|
|
||
| <CardGroup cols={2}> | ||
| <Card title="Protocol Revenue" icon="dollar-sign" href="https://dune.com/queries/5576224"> | ||
|
Collaborator
There was a problem hiding this comment. not paricularly useful to have this in here when we can maybe do this for like 5 protocols based on a specific tables and column, we cannot do this at scale so would omit |
||
| Total fees generated by the protocol | ||
| </Card> | ||
| <Card title="DEX Trading Volume" icon="chart-line" href="https://dune.com/queries/5576286"> | ||
| Total value of transactions processed by protocol | ||
| </Card> | ||
| <Card title="Fee Generation" icon="coins" href="https://dune.com/queries/5576292"> | ||
| Fees collected from users per transaction or period | ||
| </Card> | ||
| <Card title="Protocol Treasury Value" icon="vault" href="https://dune.com/queries/5576299"> | ||
| Total value of assets held in protocol treasury | ||
| </Card> | ||
| <Card title="Daily/Monthly Active Addresses" icon="users" href="https://dune.com/queries/5576322"> | ||
| Unique addresses interacting daily or monthly | ||
| </Card> | ||
| <Card title="Protocol Efficiency Ratio" icon="gauge" href="https://dune.com/queries/5576378"> | ||
| Fees generated per dollar of TVL | ||
| </Card> | ||
| <Card title="New vs Returning Users" icon="user-plus" href="https://dune.com/queries/5576381?Blockchain_t6c1ea=ethereum&Protocol_t6c1ea=uniswap"> | ||
| Breakdown of first-time vs repeat users | ||
| </Card> | ||
| <Card title="Gas Fees by Protocol Users" icon="gas-pump" href="https://dune.com/queries/5576409"> | ||
| Total gas consumed and fees paid by protocol users | ||
| </Card> | ||
| <Card title="Outstanding Supply" icon="coins" href="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"> | ||
| Total tokens minted minus protocol-controlled holdings | ||
karimhass marked this conversation as resolved.
Show resolved
Hide resolved
|
||
| </Card> | ||
| <Card title="GMV" icon="chart-line" href="https://dune.com/queries/5700620/9256236"> | ||
| Gross Merchandise Value - total value of all transactions | ||
| </Card> | ||
| </CardGroup> | ||
|
|
||
| ## Wallet Metrics | ||
|
|
||
| Metrics that analyze user behavior, wallet distribution, and individual wallet activity patterns. | ||
|
|
||
| <CardGroup cols={2}> | ||
| <Card title="Wallet Balance Distribution" icon="chart-pie" href="https://dune.com/queries/5576417"> | ||
| Distribution of holdings across wallet tiers | ||
| </Card> | ||
| <Card title="Transaction Frequency" icon="clock" href="https://dune.com/queries/5576435"> | ||
| Average number of transactions per wallet per period | ||
| </Card> | ||
| <Card title="Active Wallet Count" icon="users" href="https://dune.com/queries/5576448"> | ||
| Number of wallets with at least one transaction | ||
| </Card> | ||
| <Card title="Wallet Age/Cohort Analysis" icon="calendar" href="https://dune.com/queries/5576464"> | ||
| Analysis of wallets grouped by creation date | ||
| </Card> | ||
| <Card title="Cross-chain Activity" icon="link" href="https://dune.com/queries/5576492"> | ||
| Wallets active on multiple blockchains | ||
| </Card> | ||
| <Card title="DeFi Participation Rate" icon="chart-line" href="https://dune.com/queries/5576505"> | ||
| Percentage of wallets interacting with DeFi protocols | ||
| </Card> | ||
| <Card title="Average Transaction Value" icon="dollar-sign" href="https://dune.com/queries/5576567"> | ||
| Mean transaction size per wallet | ||
| </Card> | ||
| <Card title="Wallet Growth Rate" icon="chart-line" href="https://dune.com/queries/5576596"> | ||
| Rate of new wallet creation over time | ||
| </Card> | ||
| <Card title="Dormant vs Active Ratio" icon="bed" href="https://dune.com/queries/5576600"> | ||
| Ratio of inactive to active wallets | ||
| </Card> | ||
| <Card title="First-time vs Power Users" icon="user-graduate" href="https://dune.com/queries/5576625"> | ||
| Segmentation by transaction count tiers | ||
| </Card> | ||
| </CardGroup> | ||
|
|
||
| --- | ||
|
|
||
| ## 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 | ||
This file contains hidden or bidirectional Unicode text that may be interpreted or compiled differently than what appears below. To review, open the file in an editor that reveals hidden Unicode characters.
Learn more about bidirectional Unicode characters
Add this suggestion to a batch that can be applied as a single commit.
This suggestion is invalid because no changes were made to the code.
Suggestions cannot be applied while the pull request is closed.
Suggestions cannot be applied while viewing a subset of changes.
Only one suggestion per line can be applied in a batch.
Add this suggestion to a batch that can be applied as a single commit.
Applying suggestions on deleted lines is not supported.
You must change the existing code in this line in order to create a valid suggestion.
Outdated suggestions cannot be applied.
This suggestion has been applied or marked resolved.
Suggestions cannot be applied from pending reviews.
Suggestions cannot be applied on multi-line comments.
Suggestions cannot be applied while the pull request is queued to merge.
Suggestion cannot be applied right now. Please check back later.
There was a problem hiding this comment.
Choose a reason for hiding this comment
The reason will be displayed to describe this comment to others. Learn more.
why not use gas.fees for this?