Protocols paid $1.95 billion to token holders over past year: analyst

Real Vision crypto analyst Jamie Coutts said blockchain protocols paid $1.95 billion to token holders over the past 12 months, up fivefold from late 2022. Coutts said tokenomics are quietly shifting. While tokens had previously struggled to capture value and demand fluctuated cyclically, protocols have now started returning value to token holders through a variety of methods, Coutts said. The share of protocol revenue going to token holders also rose to 37% from 20%, according to Coutts. Coutts added the shift is spreading across a growing number of tokens, with 32 now paying more than $1 million annually to token holders.