DefiLlama

Raydium protocol revenue exceeds Ethereum or due to DefiLlama data error

ChainCatcher news reports that the rumor about Raydium protocol's revenue exceeding Ethereum's may be due to data errors from DefiLlama. According to DefiLlama data, Raydium's fees in the past 24 hours were $75.5 million, with revenue of $9.06 million.Raydium's liquidity is divided into two parts: standard AMM pools and concentrated liquidity pools. According to Raydium's rules, the transaction fee for standard AMM pools is 0.25%, with 0.22% allocated to liquidity providers and 0.03% used for RAY buybacks. The transaction fees for concentrated liquidity pools are divided into four customizable tiers, with liquidity providers receiving 84% of the transaction fees, 12% for RAY buybacks, and 4% allocated to the treasury.Raydium's official website shows that the TVL of standard AMM pools is $203 million, with a trading volume of $501 million in the past 24 hours, resulting in fees of $1.2525 million and protocol revenue of $150,000. The total fees for concentrated liquidity pools are roughly around $300,000, with protocol revenue calculated at about $50,000 based on a 16% ratio. According to rough calculations by PANews, the overall 24-hour fees may be around $1.55 million, but it shows as $75.5 million on DefiLlama; the protocol revenue is around $200,000, while DefiLlama shows it as $906,000.Additionally, Raydium's 24-hour fees of around $1.55 million are comparable to Uniswap's $1.72 million, which is also a more reasonable figure.
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