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.

governance

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EigenCloud

# EigenCloud Revenue Methodology

## 1. Overview

EigenLayer revenue represents the protocol's earnings from its restaking and reward distribution activities. Currently, this metric is calculated as zero revenue across all time periods, indicating that EigenLayer does not currently generate revenue from its operations. The revenue metric maintains the same dimensional structure as the underlying fees calculation (which tracks reward distributions) but sets all revenue values to zero.

## 2. Data sources

The methodology uses the following raw data sources:
- **Blockchain events**: Parsed Ethereum `RewardsClaimed` events from the EigenLayer RewardsCoordinator contract, containing reward distribution data including earners, claimers, recipients, token addresses, and claimed amounts
- **External data**: End-of-day token price feeds for USD conversion and token metadata for decimal correction (used in the underlying fees calculation that provides the dimensional structure)

## 3. Step-by-step calculation

### Component A: Fact extraction from reward events
- **Purpose**: Extract and structure raw reward claim data from EigenLayer's RewardsCoordinator contract
- **Logic**: Parse `RewardsClaimed` events from Ethereum blockchain logs, extracting key fields including block timestamp, merkle root, earner address, claimer address, recipient address, token address, and claimed amount. Convert claimed amounts from string to numeric format for calculation
- **Key fields**: `block_timestamp` for timing, `root` for merkle proof reference, `earner` and `claimer` for participant identification, `recipient` for reward destination, `token_address` for asset identification, and `claimedAmount` for reward quantity

### Component B: Daily fee aggregation 
- **Purpose**: Aggregate reward claims into daily fees by token to establish the dimensional structure
- **Logic**: Group reward claim events by day (truncating timestamps to daily boundaries), chain identifier (Ethereum), and token address. Sum claimed amounts within each group to calculate daily fees per token. Set product identifier as null since EigenLayer operates as a single protocol without sub-products
- **Key fields**: `timestamp` (daily truncated), `timestamp_grain` (day), `chain_id` (ethereum), `product_id` (null), `token_address`, and `fees` (summed claimed amounts)

### Component C: USD conversion and decimal correction
- **Purpose**: Convert token amounts to USD values with proper decimal handling for the underlying fee structure
- **Logic**: Apply USD conversion using end-of-day token prices and correct for token-specific decimal places. This creates the standardized fee values that provide the dimensional framework, even though they're not used for revenue calculation
- **Key fields**: USD-converted and decimal-corrected fee amounts alongside all dimensional fields

### Final aggregation
- **Combining components**: The revenue metric uses the same timestamp, chain, and product dimensions as the underlying fees calculation but sets all revenue values to zero
- **Currency conversion**: Not applicable since revenue is hardcoded to zero
- **Time aggregation**: Maintains daily time boundaries established in the fees calculation
- **Final calculation**: Revenue is explicitly set to 0 for all time periods, chains, and products while preserving the complete dimensional structure from the fees calculation. The metric finalization process ensures proper schema compliance and fills any data gaps with zeros.

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

fees * take_rate (illustrative — revenue is observed directly per project, not derived from take_rate)

Fee revenue retained after supply-side payouts. Before cost of revenue (e.g. L2 DA fees) and before operating expenses.

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Revenue

Revenue

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