Alongside’s first product is AMKT - a market cap weighted basket of the top 15 cryptoassets, rebalanced and reconstituted quarterly. AMKT is designed to enable broad based exposure to the crypto market with a single token.

Alongside is an asset management protocol built on Ethereum. Alongside was founded by Austin Diamond, Gauthier Le Meur, Jun Ho Hong, Ratan (Rai) Sur and launched in 2022.

Alongside is the software provider to to AMKT DAO, which governs AMKT. The AMKT DAO is responsible for creating and maintaining the AMKT Benchmark, a benchmark tracking the crypto-asset market. The DAO is composed of two bodies – the holders of the first implementation of the Benchmark (the AMKT Token), and a set of AMKT Governance Stewards. The AMKT DAO currently charge a management fee which is captured through inflation (revenue). Alongside’s investors include a16z, Coinbase Ventures and Franklin Templeton.

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# Alongside Earnings Methodology

## 1. Overview

Alongside earnings represents the net profit generated by the Alongside protocol's asset management operations. The metric is calculated as revenue minus expenses, where revenue comes from management fees collected on the AMKT token, and expenses represent token incentives paid to users. Currently, Alongside does not operate a token incentive program, so expenses are zero, making earnings equal to total fee revenue. This metric measures the protocol's profitability from its yield aggregation and asset management services.

## 2. Data sources

- **Blockchain events**: Two types of parsed Ethereum event logs that capture AMKT token fee minting activities
  - `IndexToken_MintFeeToReceiver_event`: Records when fees are minted and sent to the protocol's fee receiver address
  - `Vault_VaultFeeMinted_event`: Records when vault-specific fees are minted
- **Token metadata**: AMKT token information including contract address and decimal precision
- **External data**: End-of-day price feeds for USD conversion of AMKT token amounts

## 3. Step-by-step calculation

### Component A: Fee collection tracking
- **Purpose**: Captures all fee-generating events from the Alongside protocol's AMKT token operations
- **Logic**: Extracts two types of Ethereum events that represent fee minting activities. Both `IndexToken_MintFeeToReceiver_event` and `Vault_VaultFeeMinted_event` are collected and standardized with consistent metadata. Each event includes the minted token amount, transaction details, and timestamps. All events are classified under the 'Asset management' business line and 'yield_aggregator' business segment, with the AMKT token address hardcoded as the fee token.
- **Key fields**: `amount` (fee amount minted), `block_timestamp` (when fee was minted), `transaction_hash` and `log_index` (event identifiers), `token_address` (AMKT contract address)

### Component B: Fee value conversion  
- **Purpose**: Converts raw AMKT token amounts to standardized USD values for consistent reporting
- **Logic**: Applies decimal correction to convert raw token amounts from wei to human-readable format, then converts AMKT amounts to USD using end-of-day price feeds. Timestamps are truncated to daily boundaries for aggregation. The conversion process ensures accurate valuation of fee amounts regardless of token decimal precision.
- **Key fields**: `fees` (USD-denominated fee amounts), `timestamp` (daily boundaries), `chain_id` (Ethereum), token identification fields

### Component C: Revenue calculation
- **Purpose**: Establishes protocol revenue from fee collection activities
- **Logic**: Takes the USD-converted fee amounts and treats them as protocol revenue. No additional transformations are applied - fees collected directly represent revenue generated from asset management services.
- **Key fields**: `revenue` (equal to `fees` amount), maintains all temporal and categorical dimensions

### Component D: Expense calculation  
- **Purpose**: Determines protocol expenses from token incentive programs
- **Logic**: Sets token incentives to zero across all time periods and products, since Alongside does not currently operate a token incentive program. These zero token incentives are then used as the expense component in the earnings calculation.
- **Key fields**: `token_incentives` (always zero), `expenses` (equal to `token_incentives`)

### Final aggregation
- **Combining components**: Revenue and expense components are combined using the `calculate_earnings` macro, which performs the subtraction: earnings = revenue - expenses
- **Currency conversion**: All amounts are already in USD from the fee conversion step, maintaining consistency across the calculation
- **Time aggregation**: Data is aggregated to daily boundaries using timestamp truncation, with any gaps filled with zeros to ensure complete time series
- **Final calculation**: Since expenses are zero (no token incentives), earnings equals the total USD value of fees collected from AMKT token minting events each day

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Net profit (also profits, net income, profitability) — revenue remaining after subtracting expenses.

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