Fee/staking-capture token-value variant
Updated
What it is
This is AA's own taxonomy label for one pathway by which a token can capture economic value: through protocol service fees paid for usage, and/or through staked collateral that secures the network and earns yield. It is one of several value-capture categories AA uses to classify tokens, distinguished from pure speculative-demand or governance-only value-capture models.
Why it matters lately
Ethereum is a leading real-world example of this variant: the share of ETH supply staked climbed to roughly 34% (about 40.2 million ETH) by Q3 2026, up from about 29% at the start of the year. However, staking yields have compressed significantly in 2026, with base annual percentage rates sitting around 2.78% (versus 5-6% in the years just after the Proof-of-Stake transition), since Ethereum's issuance schedule scales inversely with the square root of total staked ETH.
Asymmetric Analytics view
Inference (AA): AA uses this taxonomy label to separate tokens that capture value via fees/staking from those relying on scarcity or governance narratives, informing its token-value-capture scoring.