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 Expenses Methodology

## 1. Overview

Connext expenses represent token incentives paid by the protocol to users or liquidity providers. Currently, Connext operates with zero token incentives, meaning all expenses are set to 0. The metric tracks the dimensional structure of potential token incentive programs by following the same chain, product, and temporal granularity as the protocol's fee collection system.

## 2. Data sources

The calculation relies on the following blockchain data sources:

- **Connext V1 bridge events**: Parsed `TransactionManager_TransactionPrepared_event` and `TransactionManager_TransactionFulfilled_event` logs from Connext V1 contracts deployed on Ethereum, Arbitrum, BSC, Polygon, Optimism, Gnosis, Avalanche, and Fantom
- **Connext V2 bridge events**: Parsed `ConnextDiamond_XCalled_event` logs from Connext V2 (Amarok) contracts on Ethereum, Arbitrum, BSC, Polygon, Optimism, and Gnosis  
- **AMM swap events**: Parsed `ConnextDiamond_TokenSwap_event` logs from Connext V2 contracts for automated market maker operations
- **AMM configuration events**: Parsed `ConnextDiamondSwapAdminFacet_SwapInitialized_event` logs containing fee tier configurations for AMM pools
- **Price data**: End-of-day token price feeds for USD conversion calculations
- **Token metadata**: Token symbol and decimal information for proper value calculation

## 3. Step-by-step calculation

### Component A: V1 bridge fee structure
- **Purpose**: Establishes dimensional framework from Connext V1 cross-chain bridge transactions
- **Logic**: Extracts `TransactionManager_TransactionPrepared_event` logs from V1 contracts across eight supported chains. Filters transactions using an allowlist derived from corresponding `TransactionManager_TransactionFulfilled_event` logs to include only completed cross-chain transfers. Maps null token addresses to appropriate wrapped asset addresses per chain (WETH for Ethereum/Arbitrum/Optimism, WXDAI for Gnosis). Applies a fixed fee tier of 0.05% to `amount` values from the `txData` structure. Records transactions on destination chains with daily timestamp truncation.
- **Key fields**: `transactionId` for transaction matching, `txData.amount` for transfer volume, `txData.receivingChainId` and `txData.sendingChainId` for cross-chain routing, `txData.receivingAssetId` and `txData.sendingAssetId` for token addresses

### Component B: V2 Amarok bridge fee structure  
- **Purpose**: Establishes dimensional framework from Connext V2 (Amarok) cross-chain bridge transactions
- **Logic**: Extracts `ConnextDiamond_XCalled_event` logs from V2 contracts on six supported chains. Uses domain ID mapping to convert `params.originDomain` and `params.destinationDomain` to human-readable chain names. Applies nextToken resolution by mapping nextToken addresses to their underlying token alternatives using a predefined lookup table. Calculates fees using `params.bridgedAmt` field with a fixed 0.05% fee tier. Records transactions on origin chains with daily timestamp truncation.
- **Key fields**: `params.originDomain` and `params.destinationDomain` for cross-chain routing, `asset` for origin token address, `amount` for gross transfer value, `params.bridgedAmt` for net transfer after fees

### Component C: AMM swap fee structure
- **Purpose**: Establishes dimensional framework from Connext AMM swap operations  
- **Logic**: Extracts `ConnextDiamond_TokenSwap_event` logs from V2 contracts and matches them with corresponding `ConnextDiamondSwapAdminFacet_SwapInitialized_event` logs using pool `key` identifiers. Applies dynamic fee tiers by dividing `swapFee` and `adminFee` values by 10^10 to correct for decimal precision. Calculates total fees by multiplying `tokensSold` amounts by the sum of swap fee tier and admin fee tier. Uses forward-filling to apply fee tiers across time periods until new configurations are set.
- **Key fields**: `key` for pool identification, `tokensSold` for swap volume, `swapFee` and `adminFee` for fee tier configuration, `pooledTokens[1]` for token address

### Component D: USD conversion and standardization
- **Purpose**: Converts all fee calculations to USD and applies consistent formatting
- **Logic**: Joins fee data with end-of-day token price feeds using token addresses and daily timestamps. Applies decimal correction based on token metadata to convert raw blockchain values to standard units. Multiplies corrected amounts by corresponding USD prices to generate dollar-denominated values. Groups results by timestamp, chain, and product dimensions with forward-filling for missing days.
- **Key fields**: `token_address` for price matching, `fees` for raw fee amounts, price data for USD conversion rates

### Token incentives calculation
- **Purpose**: Sets token incentive values across all protocol dimensions
- **Logic**: Takes the complete dimensional structure from the fee calculation system (timestamp, chain, product combinations) and assigns zero values to the `token_incentives` field for all records. Applies the standard finalization macro to ensure consistent schema, validate identifiers, and forward-fill any gaps in the time series.
- **Key fields**: `timestamp`, `chain_id`, `product_id` for dimensional structure, `token_incentives` set to 0

### Final expenses metric
- **Purpose**: Produces the final Connext expenses metric  
- **Logic**: Renames the `token_incentives` field to `expenses` while preserving all dimensional and temporal attributes. Applies chain availability filtering to ensure only supported chains are included in the final output. Since token incentives are zero, all expense values are zero across all time periods and chains.
- **Key fields**: `expenses` (renamed from `token_incentives`), `timestamp`, `chain_id`, `product_id` for reporting dimensions

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

Total project operating and incentive expenses.

EverclearCLEAR

Expenses

Expenses

Competitive landscape

Chain breakdown