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

DODO is a non-custodial exchange protocol built on Ethereum and other blockchains. DODO launched in 2020.

DODO tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). DODO's investors include Pantera Capital, Three Arrows Capital, Binance Labs, etc.

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Exchanges (DEX)

DODO

# DODO Expenses Methodology

## 1. Overview

DODO expenses represents the total USD value of DODO tokens paid out as liquidity mining incentives to users across all supported chains. This metric tracks the protocol's operational expense for incentivizing liquidity provision through various mining contracts. The calculation aggregates daily incentive payments from claim events across DODO v1 and v2 mining contracts on Ethereum, BSC, Arbitrum, and Polygon.

## 2. Data sources

The expenses calculation relies on several key data sources:

- **Blockchain events**: Parsed `Mine_Claim_event` logs from DODO v1 and v2 mining contracts across Ethereum, BSC, Arbitrum, and Polygon chains
- **Additional events**: Parsed `ERC20Mine_Claim_event` logs from DODO v1 Ethereum contracts with special handling logic
- **External data**: End-of-day price feeds for DODO token pricing and token metadata for decimal precision
- **Configuration data**: Predefined lists of legitimate liquidity incentive contract addresses and their classifications

## 3. Step-by-step calculation

### Component A: Raw incentive events extraction
- **Purpose**: Extract all liquidity mining claim events from DODO contracts across supported chains
- **Logic**: The system pulls `Mine_Claim_event` logs from both DODO v1 and v2 mining contracts across Ethereum, BSC, Arbitrum, and Polygon. For v2 contracts, only events where the `i` field equals '1' are included. Additionally, `ERC20Mine_Claim_event` logs from v1 Ethereum contracts are processed with special address-specific logic - certain addresses use index '0' while others use index '1' to determine the correct reward amount
- **Key fields**: `block_timestamp` for timing, `address` for recipient account, `amount` or `reward` fields for token quantities, and `i` index for event filtering

### Component B: Account validation and classification  
- **Purpose**: Filter events to only legitimate mining contracts and add metadata
- **Logic**: Events are filtered against a predefined list of known DODO liquidity incentive contract addresses across all chains. Each address is classified by type (ERC20 Mine v2, Mine v1, etc.) and associated with its deployment chain. Only events from these verified contracts are included in the calculation
- **Key fields**: `account_address` for contract identification, `account_name` for contract classification, and `chain` for blockchain association

### Component C: Cross-chain normalization
- **Purpose**: Standardize token addressing for consistent pricing across chains
- **Logic**: Since DODO tokens exist on multiple chains but pricing data is primarily available for the Ethereum token, all token addresses are normalized to the Ethereum DODO token address. The original chain information is preserved separately for proper chain attribution in the final metrics
- **Key fields**: `original_token_address` for source chain token, `token_address` for normalized Ethereum address, `original_chain` for source chain, and `chain` for pricing chain

### Component D: USD conversion and decimal adjustment
- **Purpose**: Convert raw token amounts to standardized USD values
- **Logic**: Raw token amounts are converted to USD using end-of-day price feeds for the DODO token. The conversion process includes adjusting for the token's 18-decimal precision to get the actual token quantity, then multiplying by the daily USD price. This handles the standard ERC-20 decimal representation where raw amounts are stored as integers
- **Key fields**: `amount` for raw token quantity, adjusted amount after decimal correction, and final USD value

### Final aggregation
- **Combining components**: All processed incentive events are aggregated by day and chain, summing the total USD value of incentives paid out each day
- **Currency conversion**: All amounts are converted to USD using end-of-day DODO token prices from the primary Ethereum market
- **Time aggregation**: Events are grouped by calendar day using the transaction timestamp, creating daily expense totals for each supported chain
- **Final calculation**: The final expense value represents the sum of all DODO token incentive payments converted to USD for each day and chain, with missing days forward-filled with zero values to ensure complete time series data

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

Total project operating and incentive expenses.

DODODODO

Expenses

Expenses

Competitive landscape

Chain breakdown