# DePIN Revenue Leaderboard: On-Chain Fees and Burns

> DePIN revenue ranked by network: on-chain revenue from usage burns, fees and leases for Helium, Render, Hivemapper, io.net and Akash, beside emissions.

Markdown copy of https://voltfincrypto.com/apps/depin-revenue-leaderboard

**Question:** Which DePIN networks earn the most revenue on-chain?

- Kind: Table in Voltfin Strata
- Topic: [DePIN](https://voltfincrypto.com/topics/depin)
- Chains: Multi-chain, Solana
- Status: Planned. The data is not published yet, so this page states no figure; each figure will open its receipt when it is.

Decentralized physical infrastructure networks sell real services, such as wireless coverage, GPU compute, map data and storage, and many collect payment on-chain. Some burn their token when a customer pays, some take a fee in stablecoins and some settle leases from escrow. This table ranks networks by the revenue that can be read from those transactions.

Revenue is kept to what customers paid for usage. Token emissions to operators are shown beside it, not added to it, and revenue that a network reports off-chain, from enterprise contracts or card payments, sits in its own column and is labelled as reported. The ratio of on-chain revenue to emissions shows how much of what a network pays its operators is covered by usage.

Filter by category to compare networks of the same kind, such as wireless with wireless or compute with compute, and open any figure to see the burns, payments and prices it was summed from.

## Blueprint

One row: One row per DePIN network, over the latest 30 complete days

- **Network** (`network`): The DePIN network and its token.
- **Category** (`category`): What the network sells: wireless, compute, mapping, storage or energy.
- **Chain** (`chain`): The chain where its customer payments settle.
- **On-chain revenue, 30 days** (`revenue_30d`, USD): Customer payments for usage over the last 30 days, from burns, fees or lease settlements, valued at the time of each payment.
- **Paid through** (`revenue_type`): How customers pay on-chain: token burn, stablecoin fee or escrow lease.
- **Tokens burned, 30 days** (`burned_30d`, tokens): Network tokens burned for usage over the last 30 days, in the token's own units.
- **Emissions, 30 days** (`emissions_30d`, USD): Value of the tokens issued to operators and stakers over the last 30 days.
- **Revenue to emissions** (`revenue_to_emissions`, ratio): On-chain revenue divided by the value of emissions over the same days; one means usage covers rewards.
- **Reported off-chain** (`offchain_revenue`, USD): Revenue the network reports off-chain, with its period and source, never added to on-chain revenue.
- **Change on prior 30 days** (`change_30d`): On-chain revenue against the 30 days before.
- **Receipt** (`receipt`): The burns, payments and price reads behind the row.

## How it will be measured

- Helium revenue is the USD value of Data Credits burned for network usage on Solana. Data Credits are minted only by burning HNT at a fixed dollar price, so the burn measures what customers paid; onboarding and location fees are counted apart.
- Render revenue is RENDER burned for completed work under its burn-and-mint model, and Hivemapper revenue is HONEY burned for map credits, both read from their burns on Solana.
- io.net revenue is customer payments and IO burns read from their transfers on Solana, and Akash revenue is lease settlements from its escrow module on the Akash chain.
- Burned tokens are valued at DEX pool prices at the burn block; payments in stablecoins are counted at face value.
- Off-chain reported revenue is recorded with its source and period and is never added to on-chain revenue.

## Data it needs

- `depin_networks_daily` (to build): Usage and token flows of decentralized physical infrastructure networks: burns for usage, emissions to operators, and active nodes where on-chain.
- `protocol_revenue_daily` (to build): Fees users paid to each protocol and the part kept by the protocol or its token holders, per protocol and day, including buybacks.
- `dex_swaps_daily` (to build): Swap counts and volume per DEX, pool and chain per day, decoded from Swap events, valued with stablecoin legs and oracle prices.
- Source: Helium Data Credit burns on Solana
- Source: Render burn-and-mint burns per epoch on Solana
- Source: Hivemapper HONEY burns for map credits on Solana
- Source: io.net IO burns and customer payment transfers on Solana
- Source: Akash escrow lease settlements on the Akash chain
- Source: Token USD value at burn time from DEX pool prices
- Source: Network-reported off-chain revenue, labelled as off-chain

## Questions

### What is DePIN revenue?

The money customers pay a decentralized physical infrastructure network for its service, such as data transfer, compute time or map data. Here it counts only what is paid for usage, not the tokens issued to operators.

### Why are token burns counted as revenue?

In burn-and-mint networks, customers pay by burning the network's token, often after buying it, in exchange for credits priced in dollars. The value burned is what customers spent, so it is the network's on-chain revenue.

### What is the difference between revenue and emissions?

Revenue is what customers pay. Emissions are new tokens the network issues to operators as rewards. A network can pay operators far more in emissions than it earns, so the two are always shown apart.

### Why is some DePIN revenue off-chain?

Some networks sell to businesses under contracts paid by bank transfer or card, and move value on-chain later, if at all. That revenue is shown as reported, with its source, because it cannot be read from transactions.

### Which DePIN networks are included?

Networks whose customer payments can be read on-chain: Helium, Render, Hivemapper, io.net and Akash at first, with more added as their payment contracts are mapped. Each row names the chain and the contracts its revenue comes from.

## Glossary

- **DePIN**: Decentralized physical infrastructure network: a network that pays operators in tokens to provide real-world services such as wireless coverage or compute.
- **Burn-and-mint equilibrium**: A token model in which customers burn tokens to pay for usage and the network mints new tokens to reward operators.
- **Data Credits**: Helium's usage credits, created only by burning HNT and spent to send data over the network.

## Related apps

- [DePIN Revenue vs Emissions: Monthly Burn and Mint Report](https://voltfincrypto.com/apps/depin-revenue-vs-emissions-report)
- [Helium Network Stats: Data Credit Burns and Hotspots](https://voltfincrypto.com/apps/helium-network-stats)
- [Decentralized GPU Compute: Render, io.net, Akash Usage](https://voltfincrypto.com/apps/decentralized-gpu-compute)
- [DeFi Protocol Revenue and Fees Ranking](https://voltfincrypto.com/apps/defi-protocol-revenue-ranking)
- [Crypto Token Buybacks Ranked by Amount Spent](https://voltfincrypto.com/apps/crypto-token-buybacks-ranking)
- [Hivemapper Network Stats: HONEY Burns, Rewards and Mapping](https://voltfincrypto.com/apps/hivemapper-network-stats)

Build it in Voltfin Studio: https://app.voltfincrypto.com/signup?next=%2F