Livepeer

Livepeer is a decentralized video transcoding network built on Ethereum, designed to make live video streaming cheaper and more open than traditional centralized broadcasting infrastructure. It targets developers and broadcasters who need to process and distribute video at scale without relying on a single corporate provider. The project positions itself as a foundational media layer for web3 applications.

Livepeer runs on Ethereum and also operates within the Arbitrum ecosystem, using a delegated-stake model where node operators called orchestrators stake LPT tokens to signal their commitment and earn the right to perform video transcoding work. LPT is a staking and coordination token, not the medium of exchange — broadcasters pay for transcoding services in ETH, and orchestrators earn ETH fees in return. There is no maximum supply defined for LPT, and the entire circulating supply of roughly 49.7 million tokens is already issued, leaving no dilution overhang.

Fees are paid by broadcasters in ETH for video transcoding, and the data shows the protocol collected approximately $877 in fees over the most recent 24-hour period, $22,244 over the trailing 7 days, $39,533 over the trailing 30 days, and $701,544 over the trailing 12 months. The take rate stands at 100% over the trailing 30 days, meaning all fees recorded flow to holders rather than to supply-side participants such as orchestrators in this accounting view, with supply-side revenue reported as zero for that period. Annualizing from the trailing 30-day figure produces an estimated $480,985 in annualized fees, and fees grew roughly 10.45% over the last 30 days. The market capitalization relative to those annualized fees sits at approximately 139 times.