Tokenholder revenue

Overview

Token holder revenue measures the portion of revenue that is paid out to a subset of staked token holders, often through a veToken mechanism. It reflects the realized value capture for this subset of token holders.

Data sources

• Smart contract events capturing fee distributions and voting incentives
• End-of-day price feeds for token conversion to USD
• Token metadata for decimal precision

Common calculation approaches

Fee distribution tracking

Revenue is calculated by parsing fee-sharing events from distribution contracts. For example, fee distributions to veTRUST holders are captured from CheckpointToken events from Thruster's CurveFeeDistributor contracts. These events represent the monetary value flowing to token holders as rewards for participation in governance and fee-sharing mechanisms.

Incentive and bribe aggregation

Value capture for staked token holders is expanded by including external voting incentives. For instance, voting incentive bribes are aggregated from DepositBribe events from HiddenHand's BribeVault contracts and combined with protocol-native distributions to reflect the total realized value for the token holder subset.

Note: The calculation approaches and protocol examples above are representative patterns. Individual protocol implementations may vary.