On-chain activity under the microscope: Dharma Lever offers loans at 0.10% APR, MolochDAO raises $150,000 in first week

The Fee Ratio Multiple (FRM) measures the extent to which transaction fee revenue must grow in order to sustain existing security levels in the absence of issuance subsidies. FRM is calculated as Miner Revenue [block rewards + transaction fees] / Transaction fees. A low FRM is preferable.

As of Feb. 20, the seven-day simple moving average FRM for Bitcoin, Ethereum, Litecoin, and Bitcoin Cash were 69, 29, 924, and 4233, respectively.