Data

calling all bytecasts: how would you measure onchain GDP?

https://warpcast.com/jessepollak/0x04314306

thinking about this question from Jesse

https://warpcast.com/jessepollak/0x2842a200

work shopping an approach 🚧 👉

thinking about this question from Jesse

https://warpcast.com/jessepollak/0x2842a200

work shopping an approach 🚧 👉  https://dune.com/paulapivat/onchain-gdp

Given little consensus on a definition,  a straight forward start could be:

"Fees users pay to access services onchain" 

Here are fees users paid in the past year to access services on Ethereum.

`gas.fees` courtesy of @dune.eth spell from @soispoke

research @Ethereum Foundation, Robust Incentives Group

Moving data 
@Exponent_cx
 🇹🇭 🧙‍♂️ 🦇 🔊

 @paulapivat on twtr

That's roughtly $2.7 billion in fees paid by users to interact with various contracts on Ethereum. I tried categorizing contracts into "sectors" contributing to GDP, 

from this perspective, the heavy contributors to Ethereum's GDP are: 

1. DEXs (& Aggregators)
2. L2s
3. Stablecoins
4. Access to RWAs and Treasuries

Continuing with this analogy of "chains" as country, @ilemi floated the idea of proxying trade between trade, so i queried value flow IN and OUT of Ethereum on various bridges as a proxy for trade.

- $19.8B bridged out, $15.8B bridged in
- Ethereum's largest "trade partners" are Arbitrum One, Polygon & Optimism

What else should go into measuring Onchain GDP?

s/o to @michael-nadeau who published The DeFi Report https://thedefireport.io/ 

This report inspired my thinking around categorizing contracts into "sectors" above.

Nice stuff! I think its worth reading more into economics formulas for your thinking here.

So gas fees could largely be thought of as inflation/CPI, and exports should be thought of as financial account and current account. I would use native vs non-native tokens to proxy that, read more below