# dreamcash USA500 Fees Methodology

## 1. Overview

This page covers the USA500 market (`cash:USA500`) on dreamcash, one of the markets deployed under the `cash` namespace on Hyperliquid HyperCore. The calculation is identical across all dreamcash markets; the figures on this page are scoped to the USA500 market.

Fees measures the total value paid by users to trade on dreamcash products, such as `cash:USA500` and `cash:TSLA`. These fees are generated through perpetual swap trading activity on markets deployed via the Hyperliquid HIP-3 framework. This metric reflects the total economic value paid by traders before any revenue-sharing or protocol distributions occur.

## 2. Data sources

- **Blockchain events**: `node_fills` records from Hyperliquid HyperCore
- **Fee token filter**: `fee_token = 'USDT0'` (the sole quote and collateral asset for HIP-3 perps today)

## 3. Step-by-step calculation

### Component A: dreamcash market identification

- **Purpose**: Filter HyperCore fills to dreamcash-deployed markets only
- **Logic**: Fills are filtered by the `cash:` prefix on the `coin` field, the permanent on-chain namespace assigned to dreamcash at HIP-3 deployment. This isolates the 15 registered markets without depending on any off-chain registry.

### Component B: Gross fee aggregation

- **Purpose**: Sum user-paid fees per market per day in USD
- **Logic**: The user-paid fee for each fill is taken directly from the `fee` field of `node_fills`. The chain records the value as recorded on-chain, so no manual adjustment is required. Fills are restricted to `fee_token = 'USDT0'`; values are treated as USD-equivalent without price conversion. Sums are computed per `(timestamp, market_id, token_symbol)` in the breakdown, then aggregated to the daily project metric.

### Component C: Daily normalization

- **Purpose**: Emit a single daily-grain row with zero-fill for days without trading
- **Logic**: The metric is sourced from `dreamcash_breakdowns_fees` so per-market values and the daily total stay in sync by construction. `fill_zeros` populates any day in the date spine that has no fills, ensuring continuous daily coverage from the launch date forward.

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

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

Fees

Derivative markets

dreamcash earns a deployer share of trading fees on the perpetual markets it has deployed under Hyperliquid's HIP-3 framework. Markets execute on Hyperliquid's HyperCore L1 order book; it does not operate its own matching engine. The default HIP-3 fee split allocates 50% of each user-paid fee to Hyperliquid and 50% to the deployer; deployerFeeScale is 1.0, so the standard split applies.

dreamcash offers USDC-settled perpetual contracts on US equities (NVDA, TSLA, AMZN, MSFT, META, GOOGL, INTC, HOOD), indices (USA500, EWY, KWEB), and commodities (gold, silver, WTI). All 15 markets are deployed under the HIP-3 `cash` namespace and execute on Hyperliquid's HyperCore order book.

dreamcash is a HIP-3 (builder-deployed perpetuals) deployer on Hyperliquid, deployed by wallet 0xffa8198c62adb1e811629bd54c9b646d726deef7. dreamcash is operated as a private company; no token has been issued.

USA500 PerpetualUSA500

Fees

Fees