The Core Foundation, the organization behind the Core blockchain, is launching a new revenue-sharing mechanism for the Web3 industry intended to change how stablecoin issuers and developers raise funds. Rev+ claims to be the first protocol-level program that directly rewards developers, stablecoin issuers and decentralized autonomous organizations (DAOs) based on their created user value. When launched, it will allow projects to earn revenue from user-generated gas fees on their blockchain applications. It will provide a sustainable revenue stream for developers, who were previously forced to launch cryptocurrencies to raise project funds. The stablecoins now account for over one-third of the DeFi revenue. The Core blockchain is the first Ethereum Virtual Machine (EVM)-compatible Bitcoin staking protocol. Transactions triggered by Core smart contracts — such as stablecoin swaps, moving collateral or using a vault — will award recurring revenue for the issuers through direct payouts after transactions or through a revenue-sharing pool.

The revenue sharing pool is based on the level of contribution to the Core blockchain, factoring in total transaction count, new unique addresses, notional value and total transaction fees generated. The revenue pool is distributed among participating partners during each cycle. Notable industry leaders such as Cardano founder Charles Hoskinson have previously called for the industry to embrace more collaborative economic incentives to compete with the growing threat of centralized tech giants entering the Web3 industry. The decentralized finance (DeFi) industry’s “circular economy” often means that the rally of a specific cryptocurrency is bolstered by funds exiting another token, limiting the growth of the industry. The problem right now, with the way we’ve done things in the cryptocurrency space, is the tokenomics and the market structure are intrinsically adversarial. Instead of picking a fight, the people have to find tokenomics and market structure that allows them to be in a cooperative equilibrium.