# Deliswap Voting incentives Methodology

## 1. Overview

Voting incentives measures the USD value of rewards distributed to governance participants within Deliswap. These incentives are derived from a specific portion of the protocol fees allocated to voters to encourage governance participation and liquidity alignment. This metric is used by investors to evaluate the efficiency of the protocol's incentive structures and the total value flowing to the governance layer.

## 2. Data sources

- **Blockchain events**: `Initialize` events from `PoolManager` contracts and `FeeCollected` events from `FeeProcessor` contracts on Base
- **External data**: Asset metadata and end-of-day price feeds

## 3. Step-by-step calculation

### Component A: Deliswap pool identification

- **Purpose**: To isolate the liquidity pools specifically associated with Deliswap.
- **Logic**: `Initialize` events from `PoolManager` contracts are filtered to identify pools where the hook address matches the designated Deliswap hook addresses. This process establishes a registry of pool addresses, token pairs, and fee tiers relevant to the Deliswap product.

### Component B: Incentive extraction and filtering

- **Purpose**: To capture the specific portion of fees designated for voting incentives.
- **Logic**: `FeeCollected` events from `FeeProcessor` contracts are parsed to extract the `voter_portion` field. Events are filtered to exclude internal swaps, ensuring that only incentives generated from organic user activity are included. The extracted amounts are associated with the `wBLT` asset, which serves as the primary distribution medium for these incentives.

### Component C: USD conversion and aggregation

- **Purpose**: To normalize incentive values into a common currency for reporting.
- **Logic**: The raw incentive amounts are normalized by decimal precision using asset metadata. These normalized values are then multiplied by end-of-day price feeds for the distribution asset. The final values are aggregated by day using UTC boundaries, with a zero-filling strategy applied to ensure data continuity across the time series.

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

Value of governance tokens distributed as voting or liquidity incentives.

Voting incentives

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

Voting incentives

Voting incentives