# Cash Token incentives Methodology

## 1. Overview

Token incentives measures the value of assets distributed to users of Ether.fi Cash. This metric specifically captures Cashback rewards paid out to users of the Ether.fi Cash credit card product. These incentives are primarily used to compensate stakeholders and encourage product adoption, serving as a functional equivalent to stock-based compensation in traditional finance.

## 2. Data sources

- **Blockchain events**: `Cashback` events from `DebtManager` and `CashEventEmitter` contracts, covering Scroll and Optimism
- **External data**: End-of-day price feeds for assets and asset metadata

## 3. Step-by-step calculation

### Component A: Cashback reward extraction

- **Purpose**: Capture the raw quantity and asset type of rewards distributed to users.
- **Logic**: `Cashback` events are parsed from the `DebtManager` (V1) and `CashEventEmitter` (V2, V3, and V4) contracts on the Scroll and Optimism networks. The asset address and the specific amount of the incentive are extracted from each event log, representing rewards distributed directly to user safes or accounts.
- **Key fields**: `token_address`, `amount`, `block_timestamp`

### Component B: USD conversion and normalization

- **Purpose**: Convert raw asset quantities into a standardized USD value for cross-asset comparison.
- **Logic**: Incentive amounts are normalized by the decimal precision defined in the asset metadata. These normalized quantities are then multiplied by end-of-day asset price feeds to determine the total USD value of the incentives at the time of the transaction.
- **Key fields**: `amount`, `token_address`, `price_usd`

### Component C: Final aggregation and zero-filling

- **Purpose**: Organize the processed data into a continuous daily time series.
- **Logic**: The USD-denominated incentive values are aggregated by day and chain using UTC boundaries. A zero-filling strategy is applied to the final dataset to ensure that all days within the reporting period are represented, even if no incentive distributions occurred on specific dates.

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

Value of native tokens distributed as incentives.

Token incentives

Lending

Stakers deposit funds into Ether.fi and receive a return on investment in the form of staking rewards (supply-side fees).

Ether.fi is a non-custodial staking protocol built on Ethereum and other blockchains. Ether.fi was founded by Mike Silagadze and launched in 2023.

Ether.fi team & investors own and govern the protocol. They currently take a cut of the total staking rewards earned by the protocol (revenue). Ether.fi’s investors include North Island Ventures, Chapter One, Node Capital, and Arthur Hayes.

Cash

Token incentives

Token incentives

Chain breakdown