About this Chart

Real Economic Value is a standardized metric that tracks blockchain value accrual generated by user activity. REV consists of both in-protocol transaction fees and out-of-protocol tips that users pay for transaction execution, so it measures the monetary demand to transact onchain.

In the case of Base, there are no out-of-protocol tips. All REV is generated by in-protocol transaction fees, of which there are three types.

• L1 Fee: Covers the cost of submitting L2 transactions to Ethereum mainnet L1. It fluctuates based on Ethereum mainnet's network congestion.
• L2 Base Fee: The minimum fee required for a transaction to be included in a block, dependent on the Base's network congestion.
• L2 Priority Fee: An additional fee paid to prioritize a transaction within a block. OP Stack chains like Base rely on priority ordering, where higher paying transactions are executed first, so priority fees enable sophisticated users to effectively bid for inclusion.