ok so usually is miles ahead of the competition but c'mon guys CAN WE PLEASE STOP CALLING THIS REVENUE?
theblockcrypto.com/genesis/78149/
Maker rebates aren't revenue, they're just another name for "bid ask spread".
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It's a maker rebate when makers get it, but whatever is syphoned off to token holders is revenue IMO
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totally agree with that!
so e.g. right now sushiswap has 30bps taker, 25bps maker rebate, and 5bps revenue.
but lots, including some mentioned in the article, have 0 siphoned off to token holders.
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mb it could be seen as revenue for makers instead of for the protocol itself
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how about
maker rebates (revenue) + IL (costs) = pnl? 💸
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