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Exchanges (DEX)

Axiom Trade

# Axiom Trade Revenue Methodology

## 1. Overview

Revenue measures the net fees retained by Axiom Trade after distributing cashback to traders. The net earnings generated by the platform from its trading bot services across Axiom Trade and Axiom Perps are represented by this metric. For Axiom Trade, revenue is calculated by subtracting cashback payments from the total trading fees collected on Solana, BSC, and Robinhood Chain. For Axiom Perps, revenue is generated from builder fees paid by Hyperliquid to the platform's designated builder address.

## 2. Data sources

- **Blockchain events**: Solana account activity for designated fee and cashback accounts, native asset flows for EVM fee distributors and trade contracts, and node fill events from Hyperliquid, covering Solana, BSC, Robinhood Chain, and Hypercore
- **External data**: End-of-day price feeds for native assets

## 3. Step-by-step calculation

### Component A: Axiom Trade fee collection

- **Purpose**: Capture total trading fees collected from Axiom Trade bot transactions across Solana and EVM chains
- **Logic**: For Solana, SOL balance increases are tracked for a specific set of fee accounts. Inflows are identified as trading fees when the transaction signer is not one of the fee accounts themselves, preventing internal transfers from being counted. Multiple fee payments within a single transaction are aggregated. For EVM chains (BSC and Robinhood Chain), native asset inflows to the fee distributor contract from designated trade contracts are tracked. The resulting native asset amounts are normalized by decimal precision and converted to USD using end-of-day price feeds.
- **Key fields**: `block_timestamp`, `signer`, `pre_balance`, `post_balance`, `value`, `account_address`, `token_address`

### Component B: Axiom Trade cashback tracking

- **Purpose**: Capture cashback returned to traders as supply-side fees across Solana and EVM chains
- **Logic**: For Solana, SOL balance decreases are tracked for designated cashback accounts, representing the portion of trading fees returned to users. These balance changes are aggregated per transaction. For EVM chains (BSC and Robinhood Chain), native asset outflows from the fee distributor contract to any account other than the protocol's consolidation account are tracked. The resulting native asset amounts are normalized by decimal precision and converted to USD using end-of-day price feeds.
- **Key fields**: `block_timestamp`, `pre_balance`, `post_balance`, `value`, `account_address`, `token_address`

### Component C: Axiom Perps fee extraction

- **Purpose**: Capture builder fees earned from perpetual trading
- **Logic**: Node fill events from Hyperliquid are filtered to identify trades placed through the platform using its designated builder address. The builder fees paid to this address, denominated in USDC, are extracted and aggregated.
- **Key fields**: `block_timestamp`, `builder_fee`, `fee_token`

### Component D: Revenue aggregation

- **Purpose**: Combine fee and cashback components to calculate net revenue
- **Logic**: Total fees are calculated as the sum of Axiom Trade fees and Axiom Perps fees. Supply-side fees are defined as the cashback returned to Axiom Trade users, while Axiom Perps supply-side fees are set to zero. Revenue is calculated by subtracting supply-side fees from total fees. All calculations are aggregated daily using UTC day boundaries.
- **Key fields**: `timestamp`, `fees`, `fees_supply_side`, `revenue`

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

fees * take_rate (illustrative — revenue is observed directly per project, not derived from take_rate)

Fee revenue retained after supply-side payouts. Before cost of revenue (e.g. L2 DA fees) and before operating expenses.

Axiom Trade

Revenue

Revenue

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