AVSs (Autonomous Verifiable Services) reward stakers and operators in exchange for security for third party services (supply-side fees).

EigenCloud is a marketplace connecting stakers and operators with applications that need active security. EigenCloud was founded by Sreeram Kannan and launched in 2023.

EigenCloud team and investors own and govern the protocol. They do not currently take a cut of the total rewards paid by AVSs (revenue). EigenCloud's investors include Blockchain Capital, Polychain Capital, Coinbase Ventures, etc.

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EigenCloud

# EigenCloud Fees Methodology

## 1. Overview

EigenLayer fees represent the total value of rewards claimed from the EigenLayer protocol on a daily basis. This metric captures the economic activity of the restaking protocol by measuring the USD value of rewards distributed to participants when they claim their earnings. The calculation aggregates `RewardsClaimed` events from EigenLayer's RewardsCoordinator contract, converting token amounts to USD and summing them daily to provide a comprehensive view of fee generation.

## 2. Data sources

The calculation relies on the following raw data sources:
- **Blockchain events**: Parsed `RewardsClaimed` events from EigenLayer's RewardsCoordinator contract on Ethereum, containing reward claim transactions with token addresses and amounts
- **External data**: End-of-day token price feeds for USD conversion of claimed reward tokens
- **Token metadata**: Token decimal information for proper amount normalization

## 3. Step-by-step calculation

### Component A: Raw fee extraction
- **Purpose**: Extract individual reward claim events from the EigenLayer RewardsCoordinator contract
- **Logic**: The system processes `RewardsClaimed` events emitted by the RewardsCoordinator contract on Ethereum. Each event contains details about when rewards were claimed, including the `earner` (who earned the rewards), `claimer` (who initiated the claim), `recipient` (who receives the rewards), `token` (the reward token address), and `claimedAmount` (the amount claimed). The `claimedAmount` field is cast to high-precision numeric format to handle large token amounts accurately
- **Key fields**: `block_timestamp` for timing, `token` for the reward token address, `claimedAmount` for the claimed reward amount, plus participant addresses (`earner`, `claimer`, `recipient`)

### Component B: Daily aggregation
- **Purpose**: Group reward claims by day and token to calculate daily fee totals
- **Logic**: The system truncates block timestamps to day boundaries and groups all reward claims by day and token address. Within each day-token combination, all claimed amounts are summed together to produce a daily total for each token. The aggregation treats each unique token separately, maintaining the token-level granularity needed for accurate price conversion
- **Key fields**: `timestamp` (truncated to day), `chain_id` (set to ethereum), `token_address` for grouping, `fees` as the sum of claimed amounts

### Final aggregation
- **Combining components**: The daily token-level fees are processed through USD conversion and decimal correction
- **Currency conversion**: Token amounts are converted to USD using end-of-day price feeds matched by token address and date. The conversion applies the closing price for each specific day to ensure consistent valuation timing
- **Decimal correction**: Raw token amounts are adjusted based on each token's decimal configuration to represent the actual token quantities rather than the smallest units stored on-chain
- **Time aggregation**: The metric maintains daily granularity with day-boundary truncation ensuring consistent time series alignment
- **Final calculation**: The final EigenLayer fees value for each day represents the total USD value of all rewards claimed across all tokens on that day, with gaps filled with zero values for days with no claiming activity to maintain continuous time series data

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

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

EigenCloudEIGEN

Fees

Fees

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