How companies and protocols create — and capture — economic value.
| Concept | Explanation | |---|---| | Customer value proposition | Why customers or users choose the product, service, or network. | | Revenue model | How a company receives payment: subscriptions, transactions, advertising, licensing, or product sales. | | Cost structure | Fixed and variable resources required to operate and grow. | | Network utility | Why a blockchain or protocol is used and what activity it enables. | | Value capture | How economic activity benefits shareholders or token holders. | | Reinvestment opportunity | Ability to deploy additional capital at attractive returns. |
Activity alone does not guarantee value capture. A network can be widely used while the token receives little economic benefit, just as a company can grow revenue without producing cash.