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About DeFi Fees & Revenue
DeFi's fundamentals: total fees are the dollars users pay to use protocols each day (swap fees, borrow interest), and revenue is the share that accrues to the protocols and their token holders rather than to liquidity providers. Growing, durable fees signal genuine product-market fit, real economic activity rather than just deposited capital. Watch the revenue-to-fees ratio for how much value the protocols themselves capture. Data from DeFi Llama, daily.
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