> For the complete documentation index, see [llms.txt](https://gmd-protocol.gitbook.io/gmd-protocol/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://gmd-protocol.gitbook.io/gmd-protocol/gmd-protocol-overview/realyield-revenue-sources.md).

# #RealYield Revenue Sources

## Real Yield Revenue Sources

GMD Protocol will earn Real Yield Revenue in ETH from the following sources:

* The protocol will compound half of the ETH rewards of GLP from Delta-Neutral Vaults, while the other half will be collected as performance fees/protocol revenue and distributed to $GMD stakers in WETH. 
* $GMD earns WETH rewards from the GLP in GMD Reserve
* $GMD also earns fees collected through protocol-owned liquidity, which will be converted to WETH and distributed.

## Real-Yield APR Sample Calculation 

Assuming total single-stake TVL of $1,000,000. $GMD APR will be: 

* At 20% APR from GLP, we compound a part for the Delta-Neutral Vaults. Let's use 50% for this example => 10% compounded. The other half is collected for $GMD Stakers. As a result, **$100,000** a year will be collected for $GMD stakers. 
* $200,000 worth of reserve in GLP earns another **$40,000** a year. 
* Assume protocol-owned liquidity collects **$50,000** a year (an extremely conservative 35% apr on the lp)
* The team plans to take **30%** of total performance fees

\=> The total revenue is 100,000 + 40,000 + 50,000 = **$190,000** a year 

\=> GMD$ earns about $133,000 after performance fees. Assuming 10,000 tokens staked at $50, $GMD earns approximately **27% APR**.\
\
Our treasury is also making \~\~ about **8000 - 10000$** weekly. 

(We are using extremely conservative numbers for the sake of this calculation only)