The value Trade[XYZ] keeps from the markets it lists: its deployer share of every fee traders pay on them, before Operating Costs are deducted. Unlike the protocol's statement this is not gross — the builder's and the protocol's shares of each fee belong to others and never reach the venue.
Builder fees and the protocol's share are paid out to third parties and are not booked as revenue.
Payments the venue makes to operate on the chain, deducted from Total Revenue. One component:
A venue that lists markets on a chain it does not run has no validators to compensate and no vault taking a cut, so there are no operator payments.
Net Income = Total Revenue − Operating Costs. It is what the venue earns onchain after its onchain operating costs: what its market-listing business produces after paying for its listings. The venue's offchain costs, such as staff and infrastructure, are not observable onchain and are not deducted. The venue has no token, so this is income to the venue itself rather than to any holders.
The venue opened on 2025-10-13 and every line runs from that date. Deploy auctions appear from the venue's first auction on 2025-10-25. The current day is excluded, and the current month, quarter and year are partial. Unlike the protocol's statement, these dates cover the venue's full operating history.
