Total generated fees of NEAR Intents is $5.4M as of today. A thread on this topic.

We think of the fee number in the same way how DEXes and Lending protocols: fees is everything that users are paying to achieve the goal. Fees must be trackable onchain.

A portion of the fees is going to the front-ends / aggregators — all the parties that guide users to the protocol contracts. We call these distribution fees. We see for some swaps these fees are more than 1%.

Another portion of the fees (0.001%) is instilled in the smart contracts and always goes to the NEAR Protocol. Right now this fee is set up to reduce errors during integrations. We can call this contract fees. (Yes, this is not protocol fees, see below)

MM fees are not included in the dashboard, because 1) they are not on-chain 2) it is impossible to calculate those. MMs can use different hedging strategies or accumulate one-sided positions. It's their know-how and they won't share it with us.

The total 'flow into the NEAR protocol' consists of the contract fees and a share of the distribution fees. The split is usually dynamic and varies per partner. There's a default 0.1% distribution fee that is set up for all unauthorised integrations with 1CS.

For authorised partners this number can go both up and down depending on many factors, mainly the business needs of the partner.

implements distribution fees of 0.2% for non-stablecoin swaps. These fees are intended to be accumulated into the flow to the NEAR protocol.

All the above means that Uniswap has 0 flows into the $UNI token. From my point of view, this number is what should be named protocol revenue.

You should think about contract fees as the absolute minimum that goes into NEAR. While everything else is extra. Keeping low contract fees and adjusting sharing of the distribution fees helps NEAR Intents to cater to many partners.

We are figuring out compliant way to properly handle contract and distribution fees that are intended to go towards NEAR protocol. Our intention is to keep NEAR Intents and the associated fees completely aligned with the decentralised nature of NEAR and other blockchains.

Once this is done, we will be able to calculate the NEAR Protocol revenue (and perhaps other protocols revenue) from the NEAR Intents.

@veaxlabs We happily can increase the fee though, if you want