Validators process transactions and receive fees from users (supply-side fees).

Fantom is a smart contract platform for decentralized applications (a blockchain). Fantom was founded by Dr. Ahn Byung Ik and launched in 2019.

FTM holders own and govern the protocol. They currently take a cut of the total transaction fees paid by users (revenue). Fantom’s investors include DHVC, Arrington XRP Capital, 8 decimal Capital, etc.

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# Fantom Token incentives Methodology

## 1. Overview

Token incentives for Fantom measures the total USD value of FTM tokens distributed daily as staking rewards to validators and delegators on the Fantom blockchain. This metric captures the economic incentives paid by the Fantom network to secure the blockchain through proof-of-stake consensus. The calculation aggregates all staking reward events from Fantom's Staking Fund Contract (SFC) across different contract versions, converts FTM amounts to USD, and presents the data as daily totals.

## 2. Data sources

The methodology relies on the following raw data sources:

- **Fantom blockchain event logs**: Parsed events from Fantom's Staking Fund Contract (SFC) versions 1-3, including `UnstashedRewards`, `ClaimedValidatorReward`, `ClaimedDelegationReward`, `ClaimedRewards`, and `RestakedRewards` events
- **Staking contract events**: Events containing reward amounts, validator addresses, and delegation details from Fantom's proof-of-stake mechanism  
- **End-of-day price feeds**: Internal token price data for FTM-to-USD conversion
- **CoinGecko price feeds**: External price data used as fallback for historical FTM prices, specifically for dates before January 1, 2021
- **Token metadata**: FTM token contract address and decimal precision information

## 3. Step-by-step calculation

### Component A: Raw reward extraction

- **Purpose**: Extract all FTM staking reward events from Fantom blockchain
- **Logic**: Query parsed events from multiple versions of Fantom's Staking Fund Contract. For SFC versions 1-2, extract individual reward types including unstashed rewards (`rewards`), validator rewards (`reward`), and delegation rewards (`reward`). For SFC version 3, combine three reward components: unlocked rewards (`unlockedReward`), lockup base rewards (`lockupBaseReward`), and lockup extra rewards (`lockupExtraReward`) by summing them together. All events are deduplicated using transaction hash and log index to prevent double-counting.
- **Key fields**: Block timestamp for timing, transaction hash and log index for deduplication, account address receiving rewards, and reward amounts in wei (18 decimal places). Token address is standardized to wrapped FTM address `0x21be370d5312f44cb42ce377bc9b8a0cef1a4c83`.

### Component B: Daily aggregation and decimal normalization

- **Purpose**: Aggregate reward data by day and convert from wei to FTM tokens
- **Logic**: Group all reward events by daily timestamp boundaries using timestamp truncation. Sum all reward amounts within each day and convert from wei to FTM by dividing by 10^18. Apply business classification labels including chain identifier ('fantom'), business line ('Blockchain'), market sector ('blockchains_l1'), and business segment ('blockchain').
- **Key fields**: Daily timestamp, summed `token_incentives` amounts in FTM units, and standardized business classification dimensions.

### Component C: USD conversion with price fallback logic

- **Purpose**: Convert daily FTM reward amounts to USD values using available price feeds
- **Logic**: Join daily aggregated rewards with internal price feeds on timestamp, chain, and token address. For dates where internal prices are unavailable, implement fallback logic using CoinGecko daily market data specifically for FTM token prices. The fallback is applied for historical dates before the cutoff date of January 1, 2021, when internal price coverage may be incomplete. Use coalesce function to prioritize internal prices over CoinGecko prices.
- **Key fields**: Daily `token_incentives` converted to USD using `price_usd` from either internal feeds or CoinGecko data.

### Final aggregation

- **Combining components**: The methodology processes rewards in a sequential pipeline from raw events to aggregated USD values without requiring cross-component joins
- **Currency conversion**: FTM amounts are converted to USD using end-of-day price feeds, with CoinGecko serving as fallback for pre-2021 dates when internal price data may be incomplete
- **Time aggregation**: All rewards are aggregated using daily timestamp boundaries, with timestamp truncation ensuring consistent daily groupings regardless of intraday timing
- **Final calculation**: The final metric represents the total USD value of FTM staking incentives distributed each day, calculated as the sum of all reward events multiplied by the appropriate FTM-USD exchange rate, with proper schema validation and gap-filling applied through the finalization macro

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

Value of native tokens distributed as incentives.

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