From 88834e79bcd363aa72b041baf1f66823f4b61dbf Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 12:36:46 +0100 Subject: [PATCH 01/22] updated the content of the docs --- .../data-and-dashboards/data-glossary.mdx | 197 +++++++++++++----- words.txt | 1 - 2 files changed, 140 insertions(+), 58 deletions(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index fbd69adb4..439f40263 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -1,7 +1,7 @@ --- title: Data glossary description: >- - This glossary explains various data terms. + This glossary explains various data terms and metrics used across the Superchain ecosystem. lang: en-US content_type: guide topic: data-glossary @@ -14,105 +14,188 @@ is_imported_content: 'false' # Data glossary -This glossary is a living document and will be updated over time as new metrics emerge or definitions evolve. +This glossary is a living document that will be updated over time as new metrics emerge or definitions evolve. Each metric includes its definition, calculation method, and importance to the ecosystem. -## Measure Demand +## Measuring demand -### Transaction Fees Paid +### Transaction fees paid -**Metric:** Real Economic Value (REV) +**Metric:** Real economic value (REV) -**Definition:** The total fees paid to execute a transaction onchain. This includes both the traditional gas fees required for inclusion onchain and additional fees paid to transaction execution services (e.g., Jito, Flashbots, Timeboost). +**Definition:** The total fees paid to execute a transaction onchain, including both traditional gas fees and additional out-of-protocol payments. -**Calculation:** Gas Fees + Out-of-Protocol Tips (e.g., Jito, Flashbots, Timeboost) +**Calculation:** -* Out-of-Protocol Tips can be sourced from Defillama's MEV category +``` +REV = Gas fees + Out-of-protocol tips +``` -**Why it matters:** +Where: + +* **Gas fees:** Standard fees required for onchain inclusion +* **Out-of-protocol tips:** Additional fees paid to transaction execution services (e.g., Jito, Flashbots, Timeboost) -* REV is a topline metric that "measures the monetary demand to transact onchain" (Blockworks). -* It's used as a proxy for users' willingness to pay, capturing all transaction fees to better reflect real demand (excludes app-level fees like DEX swap costs). +*Note: Out-of-protocol tips can be sourced from Defillama's MEV category* + +**Why it matters:** +REV serves as a topline metric that "measures the monetary demand to transact onchain" (Blockworks). It acts as a proxy for users' willingness to pay, capturing all transaction fees to better reflect real demand while excluding app-level fees like DEX swap costs. ### Revenue -**Metric:** Estimated Optimism Collective Revenue (Collective Revenue) +**Metric:** Estimated Optimism collective revenue (collective revenue) -**Definition:** The amount of ETH expected to be earned by the Optimism Collective from revenue sharing. +**Definition:** The amount of ETH expected to be earned by the Optimism Collective from revenue sharing across the Superchain. -**Calculation:** For each chain, take the greater of (a) 2.5% of Chain Revenue or (b) 15% of Net Onchain Profit. OP Mainnet contributes 100% of Net Onchain Profit. +**Calculation:** +For each chain, the collective revenue is the greater of: + +``` +max(2.5% × chain revenue, 15% × net Onchain profit) +``` + +*Special case: OP Mainnet contributes 100% of net Onchain profit* **Key Components:** -* **Net Onchain Profit:** Chain Revenue - L1 Gas Fees -* **Chain Revenue:** Sum of the L1 Data Fee + L2 Base Fee + L2 Priority Fee + L2 Operator Fee (Also includes any additional fee types added in the future.) -* *L1 Gas Fees:*\* Total gas fees spent by the chain on L1 in transaction batches (including blob costs) and state output submissions or dispute games. -* **Transaction Batches:** All transactions where the transaction from address is the `batcherHash` address and the transaction to address is the `batchInbox` as defined in the chains' `SystemConfigProxy` contract. -* **State Output Submissions or Dispute Games:** All transactions where the transaction from address is the `Proposer` and the transaction to address is either the `outputOracleProxy` or the `disputeGameFactoryProxy` as defined in the chains' `SystemConfigProxy` contract. -* Each chain's `SystemConfigProxy` contract can be found in the Superchain Registry. +* **Net Onchain profit:** + ``` + Net Onchain profit = chain revenue - L1 Gas Fees + ``` -**Why it matters:** +* **Chain revenue:** + ``` + Chain revenue = L1 Data Fee + L2 Base Fee + L2 Priority Fee + L2 Operator Fee + ``` + *(Includes any additional fee types added in the future)* -* This is what the Optimism Collective earns by operating the Superchain, which can be directed by governance to support ecosystem growth. -* See How (and why) the Superchain drives fees to the Optimism Collective (Optimism blog, Aug 2024) +* **L1 Gas Fees:** Total gas fees spent by the chain on L1, including: + * Transaction batches (including blob costs) + * State output submissions or dispute games -## Onchain Signals +**Transaction classification:** + +* **Transaction batches:** Transactions where: + * `from` address = `batcherHash` address + * `to` address = `batchInbox` address + * Both defined in the chain's [`SystemConfigProxy`](/stack/smart-contracts/smart-contracts#systemconfig) contract + +* **State output submissions/dispute games:** Transactions where: + * `from` address = `Proposer` + * `to` address = `outputOracleProxy` OR `disputeGameFactoryProxy` + * Both defined in the chain's `SystemConfigProxy` contract + +*Each chain's `SystemConfigProxy` contract can be found in the [Superchain Registry](/superchain/superchain-registry)* + +**Why it matters:** +This represents what the Optimism Collective earns by operating the Superchain, which can be directed by governance to support ecosystem growth. See [How (and why) the Superchain drives fees to the Optimism Collective](https://optimism.mirror.xyz/ZfAOqiAH8-xjpgfX_PdQBa1dG4QRgKkJkYe08GvGJR8) (Optimism blog, Aug 2024). + +## Onchain Activity Signals ### Value Onchain -**Metric:** Total Value Locked (TVL) +**Metric:** Total value locked (TVL) + +**Definition:** The total USD value of all assets held in smart contracts across the protocol, as defined by DefiLlama. -**Definition:** "Value of all coins held in smart contracts of the protocol" (Defillama). +**Calculation:** -**Calculation:** The sum of all USD value of assets locked in applications, as reported by DefiLlama. +``` +TVL = Σ (USD Value of Assets Locked in Applications) +``` -* TVL can be priced in USD or a crypto asset like ETH, but both are subject to price volatility. USD is often used because it's easier to interpret and consistent across the broader crypto ecosystem. +**Pricing notes:** -**Why it Matters:** TVL represents the supply side of onchain economic activity for use in protocols such as Decentralized Exchanges (DEXs) and lending markets. Strong TVL in the right places may enable greater onchain demand. +* TVL can be priced in USD or crypto assets like ETH +* Both are subject to price volatility +* USD is commonly used for easier interpretation and cross-ecosystem consistency -#### How to Measure Growth: Net TVL Flows +**Why it matters:** +TVL represents the supply side of onchain economic activity, particularly for protocols such as Decentralized Exchanges (DEXs) and lending markets. Strong TVL in strategic locations enables greater onchain demand. + +#### Measuring growth: Net TVL flows + +Since TVL is influenced by market fluctuations, it can be misleading for measuring true growth. Net TVL Flows adjusts for this by tracking net changes in token balances at current prices. + +**Calculation:** + +``` +Net TVL flows = (Tokens on Day N - Tokens on Day 0) × Price on Day N +``` + +**Example:** + +* Day 0: 100,000 ETH locked at $2,000/ETH = $200M TVL +* Day N: 90,000 ETH locked at $3,000/ETH = $270M TVL -Because TVL is influenced by market fluctuations, it can be misleading when trying to measure true growth or user behavior. Net TVL Flows can adjust for this by tracking the net change in token balances, valued at current prices. +**Analysis:** -**Calculation:** ( `# of Tokens on Day N` - `# of Tokens on Day 0` ) \* `Price of Tokens on Day N` +* Net TVL flows = −10,000 ETH × $3,000 = **$30M net outflows** +* Naive TVL change would suggest growth: $200M → $270M ❌ +* Net flows reveal actual capital withdrawal ✅ -**Example:** If an app has 100,000 ETH locked on Day 0 when ETH/USD is $2,000, and 90,000 ETH locked at $3,000 on Day N: +## Network usage & infrastructure -* Net TVL Flows = −10,000 ETH × $3,000 = $30 million in net outflows -* Naive TVL change would suggest growth: $200 million → $270 million +### Computational demand -## Network Usage & Infrastructure +**Metric:** Gas used per second (gas/s) -**Metric:** Gas Used per Second (gas/s) +**Definition:** The average rate of computational effort consumed onchain, measured in Ethereum-equivalent gas units per second. -**Definition:** "Gas refers to the unit that measures the amount of computational effort required to execute specific operations on Ethereum" (ethereum.org). Gas Used is tracked as an average rate per second for simplicity. +**Context:** +Gas represents "the unit that measures the amount of computational effort required to execute specific operations on Ethereum" ([ethereum.org](https://ethereum.org)). Tracking it as an average rate per second simplifies analysis and comparison. -**Why it Matters:** Gas, sometimes referred to as blockspace, is the limited resource that blockchains provide. Gas used shows how much of that resource is actually being consumed. +**Why it matters:** +Gas (also called blockspace) is the limited resource that blockchains provide. Gas usage shows how much of that resource is actually being consumed, indicating network utilization and demand. + +**Important Note:** Gas is only comparable across chains that use Ethereum-equivalent gas units. -**Caution:** Gas is only comparable across chains that use Ethereum-equivalent gas units. +### User experience (UX) -### User Experience (UX) +**Metric:** Median transaction fee (USD) -**Metric:** Median Transaction Fee (USD) +**Definition:** The median gas fee paid to submit a transaction, expressed in USD for simplicity and cross-ecosystem comparison. -**Definition:** The median gas fee paid to submit a transaction, expressed in USD for simplicity and easier comparison across ecosystems. +**Calculation:** -**Calculation:** Median of all transaction fees over a period of time, marked at the USD price at the time of the transaction. +``` +Median fee = median(All transaction fees over period) +``` -**Why it Matters:** This metric serves as a proxy for the cost to transact. Lower median fees enable broader usage by reducing friction, lowering breakeven costs, and unlocking use cases that would otherwise be cost-prohibitive. +*Converted to USD at transaction time* + +**Why it matters:** +This metric serves as a proxy for transaction cost accessibility. Lower median fees: -## Market Share +* Enable broader usage by reducing friction +* Lower breakeven costs for applications +* Unlock use cases that would otherwise be cost-prohibitive -**Definition:** The Superchain's share of a broader market segment for any measure (e.g., L2s, total crypto). +## Market position -**Calculation:** Superchain Metric Value / Total Market Metric Value +### Market share -**Why it Matters:** Market share helps isolate whether growth is driven by the Superchain itself, or is simply part of a broader market trend. A rising share signals outperformance, while a declining share suggests that other ecosystems are growing faster. +**Definition:** The Superchain's share of any given metric within a broader market segment (e.g., L2 ecosystem, total crypto market). -| Metric | What It Measures | Why It Matters | -| ------------------------- | ---------------------------------------------------------------- | ----------------------------------------------------------------- | -| Real Economic Value (REV) | Fees paid by users to transact (txn fees + out-of-protocol tips) | Captures users' willingness to pay for onchain activity | -| Collective Revenue | ETH earned by the Optimism Collective | Revenue can be directed by governance to support ecosystem growth | -| Total Value Locked (TVL) | Tokens locked in DeFi protocols and other apps | Supply side of the DeFi ecosystem | -| Gas Used per Second | Average compute consumed onchain | Measures throughput and execution load | -| Median Transaction Fee | Typical cost for a user to transact | Lower fees reduce friction and may unlock broader usage | -| Market Share | Superchain's share of activity vs. the broader crypto industry | Tracks relative performance against L2s or the broader market | +**Calculation:** + +``` +Market share = (Superchain metric value / Total market metric value) × 100% +``` + +**Why it matters:** +Market share helps isolate whether growth is driven by Superchain-specific factors or broader market trends: + +* **Rising share** → Superchain is outperforming the market +* **Declining share** → Other ecosystems are growing faster +* **Stable share** → Growth is proportional to market trends + +## Metrics summary + +| Metric | What It Measures | Why It Matters | +| ----------------------------- | ------------------------------------------------------------------ | ----------------------------------------------------------------- | +| **Real Economic Value (REV)** | Total fees paid by users (transaction fees + out-of-protocol tips) | Captures users' willingness to pay for onchain activity | +| **Collective Revenue** | ETH earned by the Optimism Collective from revenue sharing | Revenue can be directed by governance to support ecosystem growth | +| **Total Value Locked (TVL)** | USD value of tokens locked in DeFi protocols and applications | Represents the supply side of the DeFi ecosystem | +| **Gas Used per Second** | Average computational resources consumed onchain | Measures network throughput and execution load | +| **Median Transaction Fee** | Typical cost for a user to execute a transaction | Lower fees reduce friction and enable broader usage | +| **Market Share** | Superchain's percentage of activity vs. broader crypto industry | Tracks relative performance against L2s and the broader market | diff --git a/words.txt b/words.txt index 652ed2e5a..4c7c72284 100644 --- a/words.txt +++ b/words.txt @@ -277,7 +277,6 @@ Openfort oplabs opnode's outfile -outperformance Pausability pcscdpath Pectra From 343d89e4b94cf7b78361d09c876ed6a72a39d412 Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 12:48:13 +0100 Subject: [PATCH 02/22] follow coderabbit rules --- .../tools/data-and-dashboards/data-glossary.mdx | 12 ++++++------ 1 file changed, 6 insertions(+), 6 deletions(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index 439f40263..3b9bdda62 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -89,9 +89,9 @@ max(2.5% × chain revenue, 15% × net Onchain profit) **Why it matters:** This represents what the Optimism Collective earns by operating the Superchain, which can be directed by governance to support ecosystem growth. See [How (and why) the Superchain drives fees to the Optimism Collective](https://optimism.mirror.xyz/ZfAOqiAH8-xjpgfX_PdQBa1dG4QRgKkJkYe08GvGJR8) (Optimism blog, Aug 2024). -## Onchain Activity Signals +## Onchain activity signals -### Value Onchain +### Value onchain **Metric:** Total value locked (TVL) @@ -100,7 +100,7 @@ This represents what the Optimism Collective earns by operating the Superchain, **Calculation:** ``` -TVL = Σ (USD Value of Assets Locked in Applications) +TVL = Σ (USD value of assets locked in applications) ``` **Pricing notes:** @@ -114,12 +114,12 @@ TVL represents the supply side of onchain economic activity, particularly for pr #### Measuring growth: Net TVL flows -Since TVL is influenced by market fluctuations, it can be misleading for measuring true growth. Net TVL Flows adjusts for this by tracking net changes in token balances at current prices. +Since TVL is influenced by market fluctuations, it can be misleading for measuring true growth. Net TVL flows adjusts for this by tracking net changes in token balances at current prices. **Calculation:** ``` -Net TVL flows = (Tokens on Day N - Tokens on Day 0) × Price on Day N +Net TVL flows = (tokens on day N - tokens on day 0) × price on day N ``` **Example:** @@ -191,7 +191,7 @@ Market share helps isolate whether growth is driven by Superchain-specific facto ## Metrics summary -| Metric | What It Measures | Why It Matters | +| Metric | What it measures | Why it matters | | ----------------------------- | ------------------------------------------------------------------ | ----------------------------------------------------------------- | | **Real Economic Value (REV)** | Total fees paid by users (transaction fees + out-of-protocol tips) | Captures users' willingness to pay for onchain activity | | **Collective Revenue** | ETH earned by the Optimism Collective from revenue sharing | Revenue can be directed by governance to support ecosystem growth | From 8cdffbc4cca9e15afef1bd415e0d90152f8dc166 Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 12:54:56 +0100 Subject: [PATCH 03/22] updated the text --- .../tools/data-and-dashboards/data-glossary.mdx | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index 3b9bdda62..f0db134ec 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -42,7 +42,7 @@ REV serves as a topline metric that "measures the monetary demand to transact on ### Revenue -**Metric:** Estimated Optimism collective revenue (collective revenue) +**Metric:** Estimated Optimism Collective revenue (Collective revenue) **Definition:** The amount of ETH expected to be earned by the Optimism Collective from revenue sharing across the Superchain. @@ -179,7 +179,7 @@ This metric serves as a proxy for transaction cost accessibility. Lower median f **Calculation:** ``` -Market share = (Superchain metric value / Total market metric value) × 100% +Market share = (Superchain metric value / Total market metric value) ``` **Why it matters:** From 904836748f12aef73487286cae7d354e73bff46b Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 12:59:30 +0100 Subject: [PATCH 04/22] updated contents --- .../tools/data-and-dashboards/data-glossary.mdx | 8 ++++---- 1 file changed, 4 insertions(+), 4 deletions(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index f0db134ec..6778e0597 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -20,7 +20,7 @@ This glossary is a living document that will be updated over time as new metrics ### Transaction fees paid -**Metric:** Real economic value (REV) +**Metric:** Real Economic Value (REV) **Definition:** The total fees paid to execute a transaction onchain, including both traditional gas fees and additional out-of-protocol payments. @@ -42,7 +42,7 @@ REV serves as a topline metric that "measures the monetary demand to transact on ### Revenue -**Metric:** Estimated Optimism Collective revenue (Collective revenue) +**Metric:** Estimated Optimism Collective Revenue (Collective Revenue) **Definition:** The amount of ETH expected to be earned by the Optimism Collective from revenue sharing across the Superchain. @@ -137,7 +137,7 @@ Net TVL flows = (tokens on day N - tokens on day 0) × price on day N ### Computational demand -**Metric:** Gas used per second (gas/s) +**Metric:** Gas Used per Second (gas/s) **Definition:** The average rate of computational effort consumed onchain, measured in Ethereum-equivalent gas units per second. @@ -151,7 +151,7 @@ Gas (also called blockspace) is the limited resource that blockchains provide. G ### User experience (UX) -**Metric:** Median transaction fee (USD) +**Metric:** Median Transaction Fee (USD) **Definition:** The median gas fee paid to submit a transaction, expressed in USD for simplicity and cross-ecosystem comparison. From c9ae8e41e187c364c94640e324c0633e23ce45b2 Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 13:00:46 +0100 Subject: [PATCH 05/22] Update pages/app-developers/tools/data-and-dashboards/data-glossary.mdx Co-authored-by: coderabbitai[bot] <136622811+coderabbitai[bot]@users.noreply.github.com> --- .../data-and-dashboards/data-glossary.mdx | 19 +++++++++---------- 1 file changed, 9 insertions(+), 10 deletions(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index 6778e0597..0d429cd63 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -74,16 +74,15 @@ max(2.5% × chain revenue, 15% × net Onchain profit) **Transaction classification:** -* **Transaction batches:** Transactions where: - * `from` address = `batcherHash` address - * `to` address = `batchInbox` address - * Both defined in the chain's [`SystemConfigProxy`](/stack/smart-contracts/smart-contracts#systemconfig) contract - -* **State output submissions/dispute games:** Transactions where: - * `from` address = `Proposer` - * `to` address = `outputOracleProxy` OR `disputeGameFactoryProxy` - * Both defined in the chain's `SystemConfigProxy` contract - + * **Transaction batches:** Transactions where: + * `from` address = `batcherHash` address + * `to` address = `batchInbox` address + * Both are defined in the chain's [`SystemConfigProxy`](/stack/smart-contracts/smart-contracts#systemconfig) contract + + * **State output submissions/dispute games:** Transactions where: + * `from` address = `Proposer` + * `to` address = `outputOracleProxy` OR `disputeGameFactoryProxy` + * Both are defined in the chain's `SystemConfigProxy` contract *Each chain's `SystemConfigProxy` contract can be found in the [Superchain Registry](/superchain/superchain-registry)* **Why it matters:** From 1b00e948f596b685ab0d7bbd63e6d1a6ef5142b3 Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 13:04:51 +0100 Subject: [PATCH 06/22] fixed lint issues --- .../data-and-dashboards/data-glossary.mdx | 20 +++++++++---------- 1 file changed, 10 insertions(+), 10 deletions(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index 0d429cd63..35080c580 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -74,16 +74,16 @@ max(2.5% × chain revenue, 15% × net Onchain profit) **Transaction classification:** - * **Transaction batches:** Transactions where: - * `from` address = `batcherHash` address - * `to` address = `batchInbox` address - * Both are defined in the chain's [`SystemConfigProxy`](/stack/smart-contracts/smart-contracts#systemconfig) contract - - * **State output submissions/dispute games:** Transactions where: - * `from` address = `Proposer` - * `to` address = `outputOracleProxy` OR `disputeGameFactoryProxy` - * Both are defined in the chain's `SystemConfigProxy` contract -*Each chain's `SystemConfigProxy` contract can be found in the [Superchain Registry](/superchain/superchain-registry)* +* **Transaction batches:** Transactions where: + * `from` address = `batcherHash` address + * `to` address = `batchInbox` address + * Both are defined in the chain's [`SystemConfigProxy`](/stack/smart-contracts/smart-contracts#systemconfig) contract + +* **State output submissions/dispute games:** Transactions where: + * `from` address = `Proposer` + * `to` address = `outputOracleProxy` OR `disputeGameFactoryProxy` + * Both are defined in the chain's `SystemConfigProxy` contract + *Each chain's `SystemConfigProxy` contract can be found in the [Superchain Registry](/superchain/superchain-registry)* **Why it matters:** This represents what the Optimism Collective earns by operating the Superchain, which can be directed by governance to support ecosystem growth. See [How (and why) the Superchain drives fees to the Optimism Collective](https://optimism.mirror.xyz/ZfAOqiAH8-xjpgfX_PdQBa1dG4QRgKkJkYe08GvGJR8) (Optimism blog, Aug 2024). From 26b17915301f95a518c566ec2376a00fb6780fdc Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 15:28:00 +0100 Subject: [PATCH 07/22] reverted some changes --- .../data-and-dashboards/data-glossary.mdx | 55 +++++++++---------- 1 file changed, 25 insertions(+), 30 deletions(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index 35080c580..34cb973a7 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -18,24 +18,19 @@ This glossary is a living document that will be updated over time as new metrics ## Measuring demand -### Transaction fees paid +### Transaction Fees Paid **Metric:** Real Economic Value (REV) -**Definition:** The total fees paid to execute a transaction onchain, including both traditional gas fees and additional out-of-protocol payments. +**Definition:** The total fees paid to execute a transaction onchain. This includes both the traditional gas fees required for inclusion onchain and additional fees paid to transaction execution services (e.g., Jito, Flashbots, Timeboost). **Calculation:** ``` -REV = Gas fees + Out-of-protocol tips +REV = Gas fees + Out-Of-Protocol Tips ``` -Where: - -* **Gas fees:** Standard fees required for onchain inclusion -* **Out-of-protocol tips:** Additional fees paid to transaction execution services (e.g., Jito, Flashbots, Timeboost) - -*Note: Out-of-protocol tips can be sourced from Defillama's MEV category* +*Note: Out-Of-Protocol tips can be sourced from Defillama's MEV category* **Why it matters:** REV serves as a topline metric that "measures the monetary demand to transact onchain" (Blockworks). It acts as a proxy for users' willingness to pay, capturing all transaction fees to better reflect real demand while excluding app-level fees like DEX swap costs. @@ -50,21 +45,21 @@ REV serves as a topline metric that "measures the monetary demand to transact on For each chain, the collective revenue is the greater of: ``` -max(2.5% × chain revenue, 15% × net Onchain profit) +max(2.5% × Chain Revenue, 15% × Net Onchain Profit) ``` *Special case: OP Mainnet contributes 100% of net Onchain profit* **Key Components:** -* **Net Onchain profit:** +* **Net Onchain Profit:** ``` - Net Onchain profit = chain revenue - L1 Gas Fees + Net Onchain Profit = Chain Revenue - L1 Gas Fees ``` -* **Chain revenue:** +* **Chain Revenue:** ``` - Chain revenue = L1 Data Fee + L2 Base Fee + L2 Priority Fee + L2 Operator Fee + Chain Revenue = L1 Data Fee + L2 Base Fee + L2 Priority Fee + L2 Operator Fee ``` *(Includes any additional fee types added in the future)* @@ -88,11 +83,11 @@ max(2.5% × chain revenue, 15% × net Onchain profit) **Why it matters:** This represents what the Optimism Collective earns by operating the Superchain, which can be directed by governance to support ecosystem growth. See [How (and why) the Superchain drives fees to the Optimism Collective](https://optimism.mirror.xyz/ZfAOqiAH8-xjpgfX_PdQBa1dG4QRgKkJkYe08GvGJR8) (Optimism blog, Aug 2024). -## Onchain activity signals +## Onchain Activity Signals -### Value onchain +### Value Onchain -**Metric:** Total value locked (TVL) +**Metric:** Total Value Locked (TVL) **Definition:** The total USD value of all assets held in smart contracts across the protocol, as defined by DefiLlama. @@ -129,8 +124,8 @@ Net TVL flows = (tokens on day N - tokens on day 0) × price on day N **Analysis:** * Net TVL flows = −10,000 ETH × $3,000 = **$30M net outflows** -* Naive TVL change would suggest growth: $200M → $270M ❌ -* Net flows reveal actual capital withdrawal ✅ +* Naive TVL change would suggest growth: $200M → $270M +* Net flows reveal actual capital withdrawal ## Network usage & infrastructure @@ -148,7 +143,7 @@ Gas (also called blockspace) is the limited resource that blockchains provide. G **Important Note:** Gas is only comparable across chains that use Ethereum-equivalent gas units. -### User experience (UX) +### User Experience (UX) **Metric:** Median Transaction Fee (USD) @@ -157,7 +152,7 @@ Gas (also called blockspace) is the limited resource that blockchains provide. G **Calculation:** ``` -Median fee = median(All transaction fees over period) +Median Fee = median(All transaction fees over period) ``` *Converted to USD at transaction time* @@ -178,7 +173,7 @@ This metric serves as a proxy for transaction cost accessibility. Lower median f **Calculation:** ``` -Market share = (Superchain metric value / Total market metric value) +Market share = (Superchain Metric Value / Total Market Metric Value) ``` **Why it matters:** @@ -190,11 +185,11 @@ Market share helps isolate whether growth is driven by Superchain-specific facto ## Metrics summary -| Metric | What it measures | Why it matters | -| ----------------------------- | ------------------------------------------------------------------ | ----------------------------------------------------------------- | -| **Real Economic Value (REV)** | Total fees paid by users (transaction fees + out-of-protocol tips) | Captures users' willingness to pay for onchain activity | -| **Collective Revenue** | ETH earned by the Optimism Collective from revenue sharing | Revenue can be directed by governance to support ecosystem growth | -| **Total Value Locked (TVL)** | USD value of tokens locked in DeFi protocols and applications | Represents the supply side of the DeFi ecosystem | -| **Gas Used per Second** | Average computational resources consumed onchain | Measures network throughput and execution load | -| **Median Transaction Fee** | Typical cost for a user to execute a transaction | Lower fees reduce friction and enable broader usage | -| **Market Share** | Superchain's percentage of activity vs. broader crypto industry | Tracks relative performance against L2s and the broader market | +| Metric | What It Measures | Why It Matters | +| ------------------------- | ---------------------------------------------------------------- | ----------------------------------------------------------------- | +| Real Economic Value (REV) | Fees paid by users to transact (txn fees + out-of-protocol tips) | Captures users' willingness to pay for onchain activity | +| Collective Revenue | ETH earned by the Optimism Collective | Revenue can be directed by governance to support ecosystem growth | +| Total Value Locked (TVL) | Tokens locked in DeFi protocols and other apps | Supply side of the DeFi ecosystem | +| Gas Used per Second | Average compute consumed onchain | Measures throughput and execution load | +| Median Transaction Fee | Typical cost for a user to transact | Lower fees reduce friction and may unlock broader usage | +| Market Share | Superchain's share of activity vs. the broader crypto industry | Tracks relative performance against L2s or the broader market | \ No newline at end of file From 290fa0889e4a154201717b4ce9d7509cc3ff28f9 Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 15:28:19 +0100 Subject: [PATCH 08/22] Auto-fix: Update breadcrumbs, spelling dictionary and other automated fixes --- .../tools/data-and-dashboards/data-glossary.mdx | 6 +++--- 1 file changed, 3 insertions(+), 3 deletions(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index 34cb973a7..113222c37 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -124,8 +124,8 @@ Net TVL flows = (tokens on day N - tokens on day 0) × price on day N **Analysis:** * Net TVL flows = −10,000 ETH × $3,000 = **$30M net outflows** -* Naive TVL change would suggest growth: $200M → $270M -* Net flows reveal actual capital withdrawal +* Naive TVL change would suggest growth: $200M → $270M +* Net flows reveal actual capital withdrawal ## Network usage & infrastructure @@ -192,4 +192,4 @@ Market share helps isolate whether growth is driven by Superchain-specific facto | Total Value Locked (TVL) | Tokens locked in DeFi protocols and other apps | Supply side of the DeFi ecosystem | | Gas Used per Second | Average compute consumed onchain | Measures throughput and execution load | | Median Transaction Fee | Typical cost for a user to transact | Lower fees reduce friction and may unlock broader usage | -| Market Share | Superchain's share of activity vs. the broader crypto industry | Tracks relative performance against L2s or the broader market | \ No newline at end of file +| Market Share | Superchain's share of activity vs. the broader crypto industry | Tracks relative performance against L2s or the broader market | From cac418b9769c70e059f9914aad9beb8020392897 Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 15:32:19 +0100 Subject: [PATCH 09/22] updated header --- .../app-developers/tools/data-and-dashboards/data-glossary.mdx | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index 113222c37..84a2b18a6 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -27,7 +27,7 @@ This glossary is a living document that will be updated over time as new metrics **Calculation:** ``` -REV = Gas fees + Out-Of-Protocol Tips +REV = Gas Fees + Out-Of-Protocol Tips ``` *Note: Out-Of-Protocol tips can be sourced from Defillama's MEV category* From 3b32e222fb20eeb844444a5a1bd8f02291c5288e Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 15:45:58 +0100 Subject: [PATCH 10/22] remove text --- .../app-developers/tools/data-and-dashboards/data-glossary.mdx | 3 --- 1 file changed, 3 deletions(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index 84a2b18a6..923efd031 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -47,9 +47,6 @@ For each chain, the collective revenue is the greater of: ``` max(2.5% × Chain Revenue, 15% × Net Onchain Profit) ``` - -*Special case: OP Mainnet contributes 100% of net Onchain profit* - **Key Components:** * **Net Onchain Profit:** From ee38bfb5ed6eeb5e8e389871120f0467348da17c Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 15:49:39 +0100 Subject: [PATCH 11/22] remove contents --- .../tools/data-and-dashboards/data-glossary.mdx | 11 +---------- 1 file changed, 1 insertion(+), 10 deletions(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index 923efd031..e7dd12369 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -80,7 +80,7 @@ max(2.5% × Chain Revenue, 15% × Net Onchain Profit) **Why it matters:** This represents what the Optimism Collective earns by operating the Superchain, which can be directed by governance to support ecosystem growth. See [How (and why) the Superchain drives fees to the Optimism Collective](https://optimism.mirror.xyz/ZfAOqiAH8-xjpgfX_PdQBa1dG4QRgKkJkYe08GvGJR8) (Optimism blog, Aug 2024). -## Onchain Activity Signals +## Onchain Signals ### Value Onchain @@ -94,15 +94,6 @@ This represents what the Optimism Collective earns by operating the Superchain, TVL = Σ (USD value of assets locked in applications) ``` -**Pricing notes:** - -* TVL can be priced in USD or crypto assets like ETH -* Both are subject to price volatility -* USD is commonly used for easier interpretation and cross-ecosystem consistency - -**Why it matters:** -TVL represents the supply side of onchain economic activity, particularly for protocols such as Decentralized Exchanges (DEXs) and lending markets. Strong TVL in strategic locations enables greater onchain demand. - #### Measuring growth: Net TVL flows Since TVL is influenced by market fluctuations, it can be misleading for measuring true growth. Net TVL flows adjusts for this by tracking net changes in token balances at current prices. From d165fedfbcc5fbf3e21169db6051ea7bd4016c45 Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 15:52:13 +0100 Subject: [PATCH 12/22] add text --- .../tools/data-and-dashboards/data-glossary.mdx | 9 +++++++++ 1 file changed, 9 insertions(+) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index e7dd12369..324b77241 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -94,6 +94,15 @@ This represents what the Optimism Collective earns by operating the Superchain, TVL = Σ (USD value of assets locked in applications) ``` +**Pricing notes:** + +* TVL can be priced in USD or crypto assets like ETH +* Both are subject to price volatility +* USD is commonly used for easier interpretation and cross-ecosystem consistency + +**Why it matters:** +TVL represents the supply side of onchain economic activity, particularly for protocols such as Decentralized Exchanges (DEXs) and lending markets. Strong TVL in strategic locations enables greater onchain demand. + #### Measuring growth: Net TVL flows Since TVL is influenced by market fluctuations, it can be misleading for measuring true growth. Net TVL flows adjusts for this by tracking net changes in token balances at current prices. From dea9e3f5a1a76d2bd36745b14680fcd0ff29d984 Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 15:54:39 +0100 Subject: [PATCH 13/22] Add callouts --- .../tools/data-and-dashboards/data-glossary.mdx | 11 +++++------ 1 file changed, 5 insertions(+), 6 deletions(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index 324b77241..9cd522984 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -12,6 +12,8 @@ categories: is_imported_content: 'false' --- +import { Callout } from 'nextra/components' + # Data glossary This glossary is a living document that will be updated over time as new metrics emerge or definitions evolve. Each metric includes its definition, calculation method, and importance to the ecosystem. @@ -93,12 +95,9 @@ This represents what the Optimism Collective earns by operating the Superchain, ``` TVL = Σ (USD value of assets locked in applications) ``` - -**Pricing notes:** - -* TVL can be priced in USD or crypto assets like ETH -* Both are subject to price volatility -* USD is commonly used for easier interpretation and cross-ecosystem consistency + +TVL can be priced in USD or a crypto asset like ETH, but both are subject to price volatility. USD is often used because it's easier to interpret and consistent across the broader crypto ecosystem. + **Why it matters:** TVL represents the supply side of onchain economic activity, particularly for protocols such as Decentralized Exchanges (DEXs) and lending markets. Strong TVL in strategic locations enables greater onchain demand. From 5871794c5b61abff26323ff53a1b6270f1395eac Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 15:55:04 +0100 Subject: [PATCH 14/22] update calculations --- .../app-developers/tools/data-and-dashboards/data-glossary.mdx | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index 9cd522984..65f8b5a07 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -93,7 +93,7 @@ This represents what the Optimism Collective earns by operating the Superchain, **Calculation:** ``` -TVL = Σ (USD value of assets locked in applications) +TVL = Σ (USD value of assets locked) ``` TVL can be priced in USD or a crypto asset like ETH, but both are subject to price volatility. USD is often used because it's easier to interpret and consistent across the broader crypto ecosystem. From d5af6c7f19506a4f785f872a8861006dceb1eaed Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 15:56:00 +0100 Subject: [PATCH 15/22] updated abbr --- .../tools/data-and-dashboards/data-glossary.mdx | 8 ++++---- 1 file changed, 4 insertions(+), 4 deletions(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index 65f8b5a07..aa141906a 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -102,14 +102,14 @@ TVL can be priced in USD or a crypto asset like ETH, but both are subject to pri **Why it matters:** TVL represents the supply side of onchain economic activity, particularly for protocols such as Decentralized Exchanges (DEXs) and lending markets. Strong TVL in strategic locations enables greater onchain demand. -#### Measuring growth: Net TVL flows +#### Measuring growth: Net TVL Flows -Since TVL is influenced by market fluctuations, it can be misleading for measuring true growth. Net TVL flows adjusts for this by tracking net changes in token balances at current prices. +Since TVL is influenced by market fluctuations, it can be misleading for measuring true growth. Net TVL Flows adjusts for this by tracking net changes in token balances at current prices. **Calculation:** ``` -Net TVL flows = (tokens on day N - tokens on day 0) × price on day N +Net TVL Flows = (tokens on day N - tokens on day 0) × price on day N ``` **Example:** @@ -119,7 +119,7 @@ Net TVL flows = (tokens on day N - tokens on day 0) × price on day N **Analysis:** -* Net TVL flows = −10,000 ETH × $3,000 = **$30M net outflows** +* Net TVL Flows = −10,000 ETH × $3,000 = **$30M net outflows** * Naive TVL change would suggest growth: $200M → $270M * Net flows reveal actual capital withdrawal From 3764729b8b3a6cd66fd34abc2e9c701c0d5c00bf Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 15:56:46 +0100 Subject: [PATCH 16/22] updated name --- .../app-developers/tools/data-and-dashboards/data-glossary.mdx | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index aa141906a..021d7b9a7 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -32,7 +32,7 @@ This glossary is a living document that will be updated over time as new metrics REV = Gas Fees + Out-Of-Protocol Tips ``` -*Note: Out-Of-Protocol tips can be sourced from Defillama's MEV category* +*Note: Out-Of-Protocol tips can be sourced from DefiLlama's MEV category* **Why it matters:** REV serves as a topline metric that "measures the monetary demand to transact onchain" (Blockworks). It acts as a proxy for users' willingness to pay, capturing all transaction fees to better reflect real demand while excluding app-level fees like DEX swap costs. From 7babc3ec08db07e717ef3b5d6a7996ac4aa84345 Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 15:57:16 +0100 Subject: [PATCH 17/22] fix lint --- words.txt | 1 - 1 file changed, 1 deletion(-) diff --git a/words.txt b/words.txt index 4c7c72284..a07025b79 100644 --- a/words.txt +++ b/words.txt @@ -93,7 +93,6 @@ datacap DATADIR datadir Defi -Defillama's Devnet devnet Devnets From c0f674b31b1917d748dca61064f3faf010823986 Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 15:58:19 +0100 Subject: [PATCH 18/22] remove text --- pages/app-developers/tools/data-and-dashboards/data-glossary.mdx | 1 - 1 file changed, 1 deletion(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index 021d7b9a7..ee739c850 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -121,7 +121,6 @@ Net TVL Flows = (tokens on day N - tokens on day 0) × price on day N * Net TVL Flows = −10,000 ETH × $3,000 = **$30M net outflows** * Naive TVL change would suggest growth: $200M → $270M -* Net flows reveal actual capital withdrawal ## Network usage & infrastructure From c2ccfcb187cbdedcc0dd5ea4818f618d38ae9e7d Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 16:01:21 +0100 Subject: [PATCH 19/22] add link --- .../app-developers/tools/data-and-dashboards/data-glossary.mdx | 3 ++- 1 file changed, 2 insertions(+), 1 deletion(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index ee739c850..07cf64daa 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -128,7 +128,8 @@ Net TVL Flows = (tokens on day N - tokens on day 0) × price on day N **Metric:** Gas Used per Second (gas/s) -**Definition:** The average rate of computational effort consumed onchain, measured in Ethereum-equivalent gas units per second. +**Definition:** Gas refers to the unit that measures the amount of computational effort required to execute specific operations on [Ethereum](ethereum.org). +Gas Used is tracked as an average rate per second for simplicity. **Context:** Gas represents "the unit that measures the amount of computational effort required to execute specific operations on Ethereum" ([ethereum.org](https://ethereum.org)). Tracking it as an average rate per second simplifies analysis and comparison. From f6bd2d1cd0a3dc5df04e94a2ad334978e75905ce Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 16:03:44 +0100 Subject: [PATCH 20/22] Add proper link --- .../tools/data-and-dashboards/data-glossary.mdx | 5 +---- 1 file changed, 1 insertion(+), 4 deletions(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index 07cf64daa..5e9750097 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -128,12 +128,9 @@ Net TVL Flows = (tokens on day N - tokens on day 0) × price on day N **Metric:** Gas Used per Second (gas/s) -**Definition:** Gas refers to the unit that measures the amount of computational effort required to execute specific operations on [Ethereum](ethereum.org). +**Definition:** Gas refers to the unit that measures the amount of computational effort required to execute specific operations on [Ethereum](https://ethereum.org/en/developers/docs/gas/#what-is-gas). Gas Used is tracked as an average rate per second for simplicity. -**Context:** -Gas represents "the unit that measures the amount of computational effort required to execute specific operations on Ethereum" ([ethereum.org](https://ethereum.org)). Tracking it as an average rate per second simplifies analysis and comparison. - **Why it matters:** Gas (also called blockspace) is the limited resource that blockchains provide. Gas usage shows how much of that resource is actually being consumed, indicating network utilization and demand. From 90902a52fae6d285306d64429f1b6099539bdb91 Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 16:05:50 +0100 Subject: [PATCH 21/22] Added more callouts --- .../tools/data-and-dashboards/data-glossary.mdx | 8 ++++++-- 1 file changed, 6 insertions(+), 2 deletions(-) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index 5e9750097..552fdeb03 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -32,7 +32,9 @@ This glossary is a living document that will be updated over time as new metrics REV = Gas Fees + Out-Of-Protocol Tips ``` -*Note: Out-Of-Protocol tips can be sourced from DefiLlama's MEV category* + +Out-Of-Protocol tips can be sourced from DefiLlama's MEV category* + **Why it matters:** REV serves as a topline metric that "measures the monetary demand to transact onchain" (Blockworks). It acts as a proxy for users' willingness to pay, capturing all transaction fees to better reflect real demand while excluding app-level fees like DEX swap costs. @@ -134,7 +136,9 @@ Gas Used is tracked as an average rate per second for simplicity. **Why it matters:** Gas (also called blockspace) is the limited resource that blockchains provide. Gas usage shows how much of that resource is actually being consumed, indicating network utilization and demand. -**Important Note:** Gas is only comparable across chains that use Ethereum-equivalent gas units. + +Gas is only comparable across chains that use Ethereum-equivalent gas units. + ### User Experience (UX) From 7ac184761f6e1b95d518899eef112902715b53b8 Mon Sep 17 00:00:00 2001 From: Blessing Krofegha Date: Fri, 6 Jun 2025 16:18:50 +0100 Subject: [PATCH 22/22] updated docs --- .../app-developers/tools/data-and-dashboards/data-glossary.mdx | 2 ++ 1 file changed, 2 insertions(+) diff --git a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx index 552fdeb03..5a658238f 100644 --- a/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx +++ b/pages/app-developers/tools/data-and-dashboards/data-glossary.mdx @@ -51,6 +51,8 @@ For each chain, the collective revenue is the greater of: ``` max(2.5% × Chain Revenue, 15% × Net Onchain Profit) ``` +*Special case: OP Mainnet contributes 100% of net Onchain profit* + **Key Components:** * **Net Onchain Profit:**