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 Expenses Methodology

## 1. Overview

The Alongside expenses metric tracks protocol operating expenses, specifically token incentives paid to users or liquidity providers. For Alongside protocol, this metric currently measures token incentive expenditures, which are set to zero as the protocol does not currently distribute token-based rewards or incentives. The metric uses the protocol's fee collection timeline as a structural template to ensure consistent daily reporting.

## 2. Data sources

The calculation utilizes several data sources to establish the proper time structure and classification:

- **Ethereum event logs**: Parsed `IndexToken_MintFeeToReceiver` and `Vault_VaultFeeMinted` events from Alongside protocol contracts
- **Token metadata**: AMKT token contract information including decimal places for proper amount calculations  
- **End-of-day price feeds**: Token price data for USD conversion capabilities
- **Protocol contract data**: Alongside v1 Ethereum contract addresses and business classification metadata

## 3. Step-by-step calculation

### Component A: Fee event collection
- **Purpose**: Establish the timeline and structure for expense reporting based on protocol activity
- **Logic**: Extract AMKT token minting events from two Alongside protocol contracts on Ethereum. The `IndexToken_MintFeeToReceiver` events track fee tokens minted to fee receivers, while `Vault_VaultFeeMinted` events track vault-specific fee minting. Each event includes block timestamp, transaction details, and the `amount` of AMKT tokens minted. Events are classified under 'Asset management' business line and 'yield_aggregator' business segment, with the AMKT token address hardcoded as `0xf17a3fe536f8f7847f1385ec1bc967b2ca9cae8d`
- **Key fields**: `block_timestamp` for timing, `amount` for token quantities, `transaction_hash` and `log_index` for uniqueness, and `token_address` for the AMKT token

### Component B: Time structure creation  
- **Purpose**: Create a consistent daily time series structure for expense reporting
- **Logic**: Aggregate the fee minting events by day using timestamp truncation to establish daily boundaries. Convert token amounts to USD using end-of-day price feeds and correct for token decimal places. Apply the finalization macro with zero-fill strategy to ensure no gaps in the daily time series, creating complete coverage from the first fee event to the latest date
- **Key fields**: `timestamp` (daily), `timestamp_grain`, `chain_id`, `product_id`, and USD-converted amounts

### Component C: Token incentive assignment
- **Purpose**: Calculate actual token incentive expenses for the protocol  
- **Logic**: Use the fee-based time structure as a template but set all `token_incentives` values to zero. This reflects that Alongside protocol currently does not distribute token-based rewards, liquidity mining incentives, or other token expenditures to users. The zero values are applied consistently across all timestamps, chains, and products using the same finalization process
- **Key fields**: `token_incentives` (always zero), maintaining the same time and classification structure as fees

### Final aggregation
- **Combining components**: The token incentives component directly feeds into the expenses calculation with a simple field rename
- **Currency conversion**: Already handled in the underlying fee structure, though values remain zero
- **Time aggregation**: Daily boundaries established from fee event timestamps, with zero-fill strategy ensuring complete daily coverage
- **Final calculation**: Token incentive values are renamed as `expenses`, maintaining the zero values. Chain availability filtering ensures only supported chains appear in results. The final metric represents daily token incentive expenses in USD, which currently equals zero across all time periods due to the protocol's current incentive structure

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

Total project operating and incentive expenses.

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Expenses

Expenses

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