Conversation

Apr 6, 2021

Coinbase just released its Q1 2021 estimated earnings: - 8.75 yrs old - 56M users - $223B in assets - $335B trading vol - $730-800M net income Here's

@Uniswap

(figures queried in real-time on-chain): - 2.5 yrs old - 1.25M users - $6B TVL - $92B trading vol - $276M net income

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how are you defining "net income" there, and what is it you're trying to compare to Coinbase--UNI, or Impermanent Loss?

8:42 PM · Apr 6, 2021Twitter Web App

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SBF well done for saying this!

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apparently he is defining it as the 0.3% trading fee

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I guess that makes sense if you start with the dollar value put in, before gas fees which probably aren't accounted for actually.. I assumed the profit is the trading fee, though.

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Net income = gas for miners xd

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Lol

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92B x .3% trading fee. Not very reliable

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This is also much different than coinbase earnings which goes to the company, unlike LP rewards which is for users and also face discrepancies involving token price changes, IL, and realized gains