Blockchain Financials
Network REV (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.
From the perspective of the token holders, REV is the "top line" metric of a blockchain as it represents the amount of value paid into the system that token holders are ultimately eligible to earn, net of any operating expenses.
The operating expenses, or Operator Payments, consist of the value allocated to the infrastructure providers responsible for running the network, such as miners or validators. The payments aim to cover the real-world costs of maintaining the network plus some margin to incentivize participation.
Therefore, Token Holder Net Income is the remaining value distributed to the token holders and is calculated as REV less any Operator Payments.