Side A
TVL
Sizing protocol deposits and ecosystem capital concentration.
Protocol Comparison
TVL vs Fees
Compare passive deposits with actual fee generation so a protocol does not look stronger than its usage supports.
Side B
Fees
Measuring real usage, demand, and revenue intensity.
Decision Frame
How to use it
TVL tells you size; fees tell you activity. The strongest protocol read compares both instead of trusting either alone.
| Metric | TVL | Fees |
|---|---|---|
| What it shows | Capital parked in protocol contracts | Activity generated by users or traders |
| Can mislead when | Incentives inflate deposits | Wash volume or temporary spikes inflate fees |
| Best Radar follow-up | Chain/category hub comparison | TVL fee ratio calculator |
| Research use | Good for scale context | Good for usage quality context |