jakiro
Author: Mason Nystrom, partner at Pantera Capital; compiled by: 0xjs@Bitchain Vision
There are several common crypto business models: exchanges and markets, transaction sorting, asset management.Let’s dig into some examples.
Exchange model
Subset 1. Market Model – Transaction Fees
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Create new assets and markets (e.g. Polymarket, Perps)
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Expand access to emerging assets (Coinbase and BTC)
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Convenience Fee (Swap in wallet)
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SaaS-Supported Markets – Proof Markets
Subset 2): Liquidity Services
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Create a valuable professional liquidity pool and charge terminal applications access fees (such as hooks) or market making matchmaking fees (such as Swap)
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DEX
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Lending
MEV / Transaction sorting: own and monetize valuable order flows
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App PFOF (e.g. TG Bots)
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Sorter mode – have your own sorter and MEV (e.g. L2)
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SaaS supports transaction sorting and monitoring – RaaS, RPC providers, security providers, oracles, etc.
Asset Management: Fees are charged based on asset management scale or income
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Custodian – Earn fees based on assets
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Staking providers, LSTs, LRTs – earn some income
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Stablecoin issuer
