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![CatfishFishy Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1126955403491676160.png) Fishy Catfish [@CatfishFishy](/creator/twitter/CatfishFishy) on x 11.9K followers
Created: 2025-07-24 14:38:57 UTC



@immutablejacob How does ETH accrue value from the TVL of those issued tokens? It doesn't have a take rate on AUM.

It only gets gas fees + MEV when tokens are moving or being swapped. It's mostly dormant capital.

If it's dormant, it's not generating revenue for validators in the same way that dormant BTC isn't generating fees for BTC miners, which is why they have looming security budget issues.


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**Related Topics**
[stablecoins](/topic/stablecoins)
[swapped](/topic/swapped)
[mev](/topic/mev)
[tvl](/topic/tvl)
[ethereum](/topic/ethereum)
[coins layer 1](/topic/coins-layer-1)
[bitcoin](/topic/bitcoin)
[coins bitcoin ecosystem](/topic/coins-bitcoin-ecosystem)

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CatfishFishy Avatar Fishy Catfish @CatfishFishy on x 11.9K followers Created: 2025-07-24 14:38:57 UTC

@immutablejacob How does ETH accrue value from the TVL of those issued tokens? It doesn't have a take rate on AUM.

It only gets gas fees + MEV when tokens are moving or being swapped. It's mostly dormant capital.

If it's dormant, it's not generating revenue for validators in the same way that dormant BTC isn't generating fees for BTC miners, which is why they have looming security budget issues.

XX engagements

Engagements Line Chart

Related Topics stablecoins swapped mev tvl ethereum coins layer 1 bitcoin coins bitcoin ecosystem

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