Network Metrics

Every Livepeer Network metric on the Explorer, what it means, and how to compute the institutional metrics analysts and investors need.

Round Status

A round is one period during which orchestrators can call reward once, parameters can be changed, and a new active set is fixed. Rounds on Arbitrum One are approximately 21 hours long, set by roundLength measured in L1 blocks. Each round closes when its block count is reached; the next round begins when an orchestrator calls RoundsManager.initializeRound().

Activity Metrics

Fee volume is denominated in ETH (gateways pay in ETH via probabilistic micropayment tickets) and converted to USD at the price oracle value at redemption. Estimated usage converts fee volume into minutes of compute delivered using a per-pixel reference price; methodology last updated 21 August 2023 (forum post).

Live: weekly transcoding fee volume from Rick Staa’s Dune dashboard. Source: dune.com/queries/4073378. For real-time daily data, see the Explorer homepage.

Economic Metrics

Three subgraph fields fully describe the LPT supply system: totalSupply, inflation, participationRate. They form a closed feedback loop. When participation falls below the target rate, inflation rises; when participation exceeds target, inflation falls. The loop is defined in BondingManager and runs once per round.

Decentralisation Metrics

Concentration metrics are computed from the orchestrator subgraph entity. Active set size and delegator count are direct subgraph fields; concentration ratios and the Nakamoto coefficient are derived from the orchestrator stake distribution.

Staking Metrics

Forecasted Yield on the orchestrator list is computed live from network parameters (inflation, inflationChange, totalActiveStake, lptPriceEth), the orchestrator’s parameters (rewardCut, feeShare, recent fee volume, reward call ratio), and configurable assumptions (time horizon, delegation amount, factors, future inflation). The result is an estimate, not a guarantee.

Orchestrator Columns

Reward Cut and Fee Cut apply to different income streams and are commonly confused. Reward Cut applies to LPT inflation; Fee Cut applies to ETH fees. The orchestrator list at explorer.livepeer.org/orchestrators sorts by Forecasted Yield by default; every column is sortable.

Gateway Columns

Gateway metrics are demand-side: who is routing jobs and paying fees. The gateway list at explorer.livepeer.org/gateways shows every gateway with a recent winning ticket redemption.

Performance Leaderboard

A measurement service runs reference test jobs against every active orchestrator from each measurement region. Scores aggregate the results. Transcoding and AI scores are tracked separately; AI is further split by pipeline (text-to-image, image-to-image, image-to-video, audio-to-text, text-to-speech, live-video-to-video) and model. The leaderboard sits at explorer.livepeer.org/leaderboard.

Treasury and Governance

The Treasury holds LPT funded by a configurable share of each round’s inflation. Treasury proposals authorise spending; polls vote on protocol parameter changes. Treasury state is at explorer.livepeer.org/treasury.

For treasury balance over time, see Doug Petkanics’s Livepeer Treasury dashboard on Dune. Authoritative on-chain state is at explorer.livepeer.org/treasury.

Transactions Feed

A chronological feed of every state-changing protocol call sits at explorer.livepeer.org/transactions. Event types:

• BondEvent: a delegator bonded LPT to an orchestrator. Includes new delegators, additional bonds, and switches from one delegate to another.
• UnbondEvent / RebondEvent: a delegator started unbonding or rebonded before withdrawing.
• RewardEvent: an orchestrator called reward() for a round and minted that round’s share of LPT inflation.
• WinningTicketRedeemedEvent: a winning probabilistic ticket was settled on-chain, transferring ETH from gateway to orchestrator.
• DepositFundedEvent / ReserveFundedEvent: a gateway funded its deposit or reserve.
• TranscoderActivatedEvent / TranscoderDeactivatedEvent: an orchestrator entered or left the active set.
• TranscoderUpdateEvent: an orchestrator changed rewardCut, feeShare, or service URI.

Every event is queryable from the subgraph and links through to the underlying Arbiscan transaction.

Endpoints

For analysts and researchers building dashboards or running scripts, the canonical endpoints in one block:

Related Pages

The five surfaces these metrics come from, end-to-end.

The Network topology that produces every metric on this page.

What fee volume, settlement, and ticket redemption represent.

Contract addresses backing every on-chain metric on this page.