Liquidity providers deposit funds into Everclear and receive transfer fees from users (supply-side fees).

Everclear is a cross-chain liquidity network that enables fully non-custodial transfers between EVM-compatible chains and L2 systems. Everclear was co-founded by  Arjun Bhuptani, Rahul Sethuram, and Layne Haber and launched in 2021.

Everclear team & investors own and govern the protocol. They do not currently take a cut of the total transfer fees paid by users (revenue).

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Everclear

# Everclear Earnings Methodology

## 1. Overview

Connext earnings represents the net financial performance of the Connext bridge protocol, calculated as revenue minus expenses. In the current implementation, both revenue and expenses are set to zero, resulting in zero earnings across all time periods. This methodology tracks the protocol's operational fees from bridge transactions and AMM swaps, but treats these as operational metrics rather than revenue components.

## 2. Data sources

The calculation relies on several types of blockchain data:

- **Bridge transaction events**: Parsed `TransactionManager_TransactionPrepared_event` and `TransactionManager_TransactionFulfilled_event` logs from Connext V1 contracts across Ethereum, Arbitrum, Polygon, BSC, Optimism, Gnosis, Avalanche, and Fantom
- **Cross-chain events**: Parsed `ConnextDiamond_XCalled_event` logs from Connext V2 (Amarok) contracts on Ethereum, Arbitrum, Polygon, BSC, Optimism, and Gnosis
- **AMM swap events**: Parsed `ConnextDiamond_TokenSwap_event` logs from Connext V2 AMM contracts
- **AMM configuration events**: Parsed `ConnextDiamondSwapAdminFacet_SwapInitialized_event` logs containing fee tier configurations
- **External data**: End-of-day token price feeds for USD conversion and token metadata for decimal corrections and alternative token mappings

## 3. Step-by-step calculation

### Component A: Bridge fees calculation
- **Purpose**: Calculate fees generated from cross-chain bridge transactions across Connext V1 and V2 protocols
- **Logic**: For V1 transactions, extract `TransactionPrepared` events and filter only those with corresponding `TransactionFulfilled` events to ensure completed transactions. Apply a fixed fee tier of 0.05% to the `transfer_amount` for destination chain transactions. For V2 Amarok transactions, extract `XCalled` events and apply the same 0.05% fee tier to the `bridgedAmt` field representing the fee amount. Map origin and destination chains using predefined chain ID mappings, and handle null token addresses by replacing them with wrapped native token addresses (WETH for Ethereum/Arbitrum/Optimism, WXDAI for Gnosis).
- **Key fields**: `transfer_amount` and `fee_amount` from transaction events, `origin_chain_token_address` and `destination_chain_token_address` for token identification, `fee_tier` set to 0.0005 (0.05%)

### Component B: AMM swap fees calculation  
- **Purpose**: Calculate fees from automated market maker token swaps within Connext pools
- **Logic**: Extract `TokenSwap` events and match them with corresponding fee tier configurations from `SwapInitialized` events based on pool key IDs and timestamps. Combine both admin fee tier and swap fee tier, correcting these values from 10-decimal precision to standard format by dividing by 10^10. Apply the combined fee percentage to the `tokensSold` amount. Use forward-fill strategy to populate missing fee tier configurations for consecutive days.
- **Key fields**: `tokensSold` representing swap volume, `admin_fee_tier` and `swap_fee_tier` from pool configurations, pool `key_id` for matching events

### Component C: Revenue and expenses components
- **Purpose**: Define protocol revenue and operational expenses for earnings calculation  
- **Logic**: Set revenue to zero for all time periods and chains, treating bridge fees as operational metrics rather than revenue. Set token incentives (the primary expense category) to zero, indicating no token reward programs are currently active. Both components use the same timestamp and dimensional structure as the fees data to ensure consistent aggregation.
- **Key fields**: `revenue` set to 0, `token_incentives` (expenses) set to 0

### Final aggregation
- **Combining components**: Bridge fees and AMM fees are unioned together and converted to USD using end-of-day price feeds, with proper decimal correction applied based on token metadata. Revenue and expenses remain at zero across all records
- **Currency conversion**: All fee amounts are converted to USD using end-of-day token prices, with decimal corrections applied based on each token's precision (typically 18 decimals for ERC-20 tokens, with exceptions handled through token metadata)
- **Time aggregation**: Data is aggregated to daily boundaries using `timestamp_trunc(block_timestamp, day)`, with forward-fill strategy applied to ensure no gaps in the time series
- **Final calculation**: Earnings equals revenue minus expenses, which results in 0 - 0 = 0 for all time periods, chains, and products. The calculation uses the `calculate_earnings` macro with `fill_zeros` strategy to populate missing data points

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

Net profit (also profits, net income, profitability) — revenue remaining after subtracting expenses.

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