Michael Silberling
@msilb7
Another spicy Friday data take: What if it’s all just market volatility? Priority fees (mostly paid by trading bots) make up a large majortiy of Superchain revenue, and they rise and fall right alongside ETH volatility. If our metrics don’t account for volatility, it’s hard to tell if we’re actually growing, or just falling for the noise. Need ideas for better metrics
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Michael Silberling
@msilb7
ChatGPT helped me make a realized volatility metric using Dune's minute-level price data. I am not a finance guy, nor a stats guy. Almost a words guy (did you see that "nor"). https://dune.com/queries/5139749
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Michael Silberling
@msilb7
Other factors that likely influence this include: - DEX TVL depth ($ amount) and makeup (token or pool-level breakdown) - Baseline transaction cost (L2 congestion & L1/Blob congestion) - Random events fin
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