# Token incentives Methodology

## Overview

Token incentives measures the value of native tokens that a project pays out to its supply/demand-side users, core contributors, and/or investors. The tokens are primarily used to compensate stakeholders either retroactively or on an ongoing basis. The metric is analogous to stock-based compensation in traditional finance.

## Data sources

- Block data and transaction records capturing coinbase outputs
- Validator reward records and program instructions on Solana
- Protocol-level balance updates and consensus layer data
- End-of-day price feeds for USD conversion

## Common calculation approaches

### Mining and block subsidy extraction
Mining rewards and block subsidies are extracted from coinbase transactions on proof-of-work blockchains such as Bitcoin and Litecoin. The daily quantity of native assets issued to miners is multiplied by end-of-day price feeds and aggregated to determine the total USD value.

### Validator and staking reward tracking
For proof-of-stake networks including Solana, Ethereum, and Cardano, rewards are captured from staking records, program instructions, or protocol-level balance updates. These distributions are normalized by decimal precision and aggregated daily to reflect the economic cost of native asset issuance used to incentivize network participants.

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

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

Value of native tokens distributed as incentives.

Token incentives

Exchanges (DEX)

Liquidity providers deposit funds into Aperture and receive trading fees from traders (supply-side fees).

Aperture is a non-custodial DeFi exchange protocol built on Manta Pacific (originally a fork of Uniswap). Aperture was founded by Gao Han, Lian Zhu, and Peiqian Li in 2021.

Aperture team & investors own and govern the protocol. They do not currently take a cut of the total trading fees paid by traders (revenue). Aperture's investors include ParaFi Capital, Arrington XRP Capital, Costanoa Ventures and Divergence Ventures.

Aperture Swap V1

Token incentives

Token incentives

Chain breakdown