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 Fees Methodology

## 1. Overview

The Connext fees metric measures the total fees generated across Connext's bridge and AMM (Automated Market Maker) services. This metric captures revenue from three main sources: Connext V1 bridge transactions, Amarok (V2) cross-chain bridge transactions, and AMM token swaps. The metric aggregates all fees daily by blockchain and converts them to USD to provide a comprehensive view of Connext's fee-generating activities across its multi-chain infrastructure.

## 2. Data sources

The calculation relies on several types of blockchain event data and external feeds:

- **Connext V1 bridge events**: `TransactionPrepared` events from TransactionManager contracts across Ethereum, Arbitrum, BSC, Avalanche, Fantom, Gnosis, Optimism, and Polygon networks, along with corresponding `TransactionFulfilled` events for transaction validation
- **Connext V2 Amarok events**: `XCalled` events from ConnextDiamond contracts on Ethereum, Arbitrum, BSC, Gnosis, Optimism, and Polygon networks representing cross-chain bridge transactions
- **AMM swap events**: `TokenSwap` events from ConnextDiamond contracts on Arbitrum, BSC, Gnosis, Optimism, and Polygon networks, plus `SwapInitialized` events containing fee tier configurations
- **End-of-day price feeds**: Token price data for USD conversion across all supported tokens and chains
- **Token metadata**: Information for decimal correction, token symbol mapping, and alternative token address mappings for Connext's nextTokens

## 3. Step-by-step calculation

### Component A: V1 bridge fees
- **Purpose**: Calculate fees from Connext V1 bridge transactions
- **Logic**: Extract `TransactionPrepared` events from TransactionManager contracts across eight blockchain networks. Validate each prepared transaction against corresponding `TransactionFulfilled` events to ensure only completed transactions are included. Apply a fixed fee rate of 0.05% to the `amount` field from transaction data. Handle null token addresses by mapping them to the appropriate wrapped native token for each chain (WETH on Ethereum and Arbitrum, WXDAI on Gnosis, etc.). Track transactions on the destination chain where the bridged tokens are received
- **Key fields**: `amount` (transfer amount), `sendingAssetId` and `receivingAssetId` (token addresses), `sendingChainId` and `receivingChainId` (chain identifiers), `transactionId` for validation matching

### Component B: Amarok (V2) bridge fees  
- **Purpose**: Calculate fees from Connext V2 Amarok cross-chain transactions
- **Logic**: Extract `XCalled` events from ConnextDiamond contracts on six blockchain networks. Use the `bridgedAmt` parameter as the base amount, which represents the actual bridged amount after fees are deducted. Apply a fixed fee rate of 0.05% to this bridged amount. Map numeric domain IDs to human-readable chain names using a predefined mapping table. Replace any nextToken addresses with their corresponding alternative token addresses to ensure proper price lookups, since price feeds are not available for nextTokens
- **Key fields**: `bridgedAmt` (fee calculation base), `originDomain` and `destinationDomain` (chain identifiers), `asset` (token address)

### Component C: AMM swap fees
- **Purpose**: Calculate fees from token swaps within Connext's AMM pools
- **Logic**: Extract `TokenSwap` events from ConnextDiamond contracts on five blockchain networks. Retrieve dynamic fee tier configurations from `SwapInitialized` events, which contain both admin fee rates and swap fee rates for each pool. Forward-fill missing fee tier data to handle days where no configuration changes occurred. Apply decimal correction by dividing both admin and swap fee tiers by 10^10. Calculate total fees by multiplying the swap amount (`tokensSold`) by both the admin fee tier and swap fee tier, then sum these two fee components together
- **Key fields**: `tokensSold` (swap amount), `key` (pool identifier for fee tier matching), `swapFee` and `adminFee` (fee tier configurations)

### Final aggregation
- **Combining components**: Union all three fee components (V1 bridge, Amarok bridge, and AMM swap fees) into a single dataset, with each row representing daily fee amounts by chain and token
- **Currency conversion**: Convert all fee amounts to USD using end-of-day price feeds, applying appropriate decimal corrections based on each token's decimal configuration
- **Time aggregation**: Truncate all timestamps to day boundaries and group fees by date, chain, and token address
- **Final calculation**: Sum all fee amounts in USD by day and chain, applying schema validation and gap-filling logic through the finalize metric macro to ensure consistent daily reporting across all chains and time periods

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

Total value users pay to use a protocol (gross fees, user-paid fees).

EverclearCLEAR

Fees

Fees

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