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 Fees Methodology

## 1. Overview

The Alongside fees metric measures the total daily fees collected by the Alongside protocol on Ethereum. This metric captures protocol revenue generated through fee minting mechanisms, where fees are collected by minting new AMKT tokens to designated fee receiver addresses. The calculation aggregates fee minting events from two distinct sources within the Alongside protocol's smart contracts and converts them to USD values for standardized reporting.

## 2. Data sources

The calculation relies on the following raw data sources:
- **Blockchain events**: Parsed Ethereum event logs from the Alongside protocol, specifically `IndexToken_MintFeeToReceiver_event` and `Vault_VaultFeeMinted_event` emissions
- **Token metadata**: AMKT token contract information including decimal precision for the token at address `0xf17a3fe536f8f7847f1385ec1bc967b2ca9cae8d`
- **External data**: End-of-day price feeds for USD conversion of AMKT token amounts

## 3. Step-by-step calculation

### Component A: Fee minting event collection
- **Purpose**: Identifies and standardizes all fee minting activities across the Alongside protocol
- **Logic**: Collects fee minting events from two distinct Ethereum event types. The first source captures `IndexToken_MintFeeToReceiver_event` emissions, which represent fees minted directly to receiver addresses. The second source captures `Vault_VaultFeeMinted_event` emissions, which represent vault-level fee minting activities. Both event types are processed identically, extracting the `amount` field (referenced as `amount` in the raw events) that represents the quantity of AMKT tokens minted as fees. Each event is classified with consistent business metadata including chain identification as Ethereum, business line as Asset management, market sector as asset_management, and business segment as yield_aggregator
- **Key fields**: `block_timestamp` for event timing, `transaction_hash` and `log_index` for unique identification, `amount` for fee quantity in AMKT tokens, and `token_address` standardized to the AMKT contract address

### Component B: Daily aggregation and timestamping  
- **Purpose**: Aggregates fee events into daily totals with proper time boundaries
- **Logic**: Groups all fee minting events by truncating `block_timestamp` to day boundaries, creating daily aggregation periods. Maintains all classification fields including chain, market sector, business segment, product identification, and token address. Preserves the sum of all `amount` values within each day as the total daily fees
- **Key fields**: `timestamp` truncated to day grain, `fees` as aggregated daily amounts, and all business classification dimensions

### Component C: USD conversion and decimal correction
- **Purpose**: Converts AMKT token amounts to USD values with proper decimal handling
- **Logic**: Applies the convert_to_usd_and_correct_decimals macro to transform raw token amounts into standardized USD values. This process involves two key steps: first, correcting for the AMKT token's decimal precision to convert from the smallest unit to whole tokens, and second, multiplying by the end-of-day USD price for AMKT tokens to generate USD-denominated fee amounts
- **Key fields**: Original `fees` amounts converted to USD-denominated values with decimal corrections applied

### Final aggregation
- **Combining components**: The daily aggregated and USD-converted fee amounts flow through the finalize_metric_fees macro which validates the data schema, ensures proper business classification IDs, and implements a zero-filling strategy for any missing dates
- **Currency conversion**: USD conversion uses end-of-day AMKT token prices applied after decimal correction from smallest token units to whole tokens
- **Time aggregation**: Daily boundaries are established by truncating event timestamps to day precision, with all events within a calendar day summed together
- **Final calculation**: The final metric represents the total USD value of AMKT tokens minted as fees each day, calculated as the sum of all fee minting events multiplied by the AMKT token price and corrected for decimal precision, with zero values filled for any days without fee activity

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

Total value users pay to use a protocol (gross fees, user-paid fees).

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