# Deliswap Expenses Methodology

## 1. Overview

Expenses is measured as the total cost incurred by Deliswap to operate its business. This metric primarily tracks token incentives distributed to supply-side and demand-side users to encourage platform engagement and liquidity provision. These costs are essential for maintaining the Deliswap ecosystem and are tracked to provide insight into the product's economic sustainability. Cross-product aggregation details are defined in the project-level methodology.

## 2. Data sources

- **Blockchain events**: `Claimed` events from `IncentiveGauge` contracts on Base
- **External data**: End-of-day price feeds for the distributed assets and asset metadata

## 3. Step-by-step calculation

### Component A: Deliswap token incentive extraction

- **Purpose**: Token incentives distributed to participants are identified and captured.
- **Logic**: `Claimed` events are parsed from `IncentiveGauge` contracts on Base. The `amount` and `token` address are extracted from each event to identify the value and type of incentive distributed. Data is specifically filtered to include only records associated with the Deliswap product.
- **Key fields**: `amount`, `token_address`

### Component B: USD conversion and aggregation

- **Purpose**: All captured costs are normalized and converted to USD for cross-asset comparison.
- **Logic**: Asset amounts are normalized by decimal precision based on asset metadata. The resulting values are multiplied by end-of-day price feeds to calculate the USD equivalent. Daily totals are aggregated using UTC day boundaries.

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

Total project operating and incentive expenses.

Expenses

Exchanges (DEX)

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

BMX is a non-custodial exchange for spot and perpetual contracts built on Base. BMX has three product lines: Classic, Freestyle, and Based MediaX

BMX tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue).

Deliswap

Archived

Expenses

Expenses

Chain breakdown