Liquidity providers deposit funds into Holdstation DeFutures and receive trading fees from traders (supply-side fees).

Holdstation DeFutures is a non-custodial perpetual exchange protocol built on zkSync Era. Holdstation DeFutures was founded by Hoai Nam and Trung Banh, and launched in 2023.

HOLD tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). Holdstation's investors include ViaBTC Capital, Kryber, K300 Ventures, etc.

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# Holdstation Supply-side fees Methodology

## 1. Overview

Supply-side fees for Holdstation DeFutures represent the portion of trading fees that are distributed to liquidity providers and NFT bots rather than retained as protocol revenue. This metric measures the daily USD value of fees paid to the supply side of the Holdstation DeFutures perpetual trading platform on zkSync Era. The calculation identifies specific fee events from smart contracts and categorizes them to isolate only the fees that flow to liquidity providers and automated trading bots.

## 2. Data sources

- **Smart contract events**: Parsed event logs from Holdstation DeFutures smart contracts on zkSync Era blockchain
- **Trading fee events**: `HSTradingCallbacks` contract events including `AgencyFeeCharged`, `DevGovFeeCharged`, `LpFeeCharged`, `NftBotFeeCharged`, `ReferralFeeCharged`, `SssFeeCharged`, and `UsdcVaultFeeCharged`
- **Funding fee events**: `HSPairInfos` contract `FeesCharged` events containing funding and rollover fees
- **Token price data**: End-of-day price feeds for USD conversion
- **Token metadata**: USDC token configuration and decimal precision data

## 3. Step-by-step calculation

### Component A: Trading fee categorization
- **Purpose**: Extract and categorize different types of trading fees to identify supply-side portions
- **Logic**: Parse multiple fee event types from the `HSTradingCallbacks` contract on zkSync Era. Each event represents a different fee component charged during perpetual trading operations. For supply-side calculation, identify events where fees flow to liquidity providers (`LpFeeCharged`) and NFT bots (`NftBotFeeCharged`). Set revenue-side fees (Agency, Dev & Governance, Staking, Referral, Vault) to zero for this metric. Extract the `valueUsdc` field containing the fee amount in USDC units.
- **Key fields**: `block_timestamp` for timing, `account_address` for the fee payer, `valueUsdc` for the fee amount, contract `address` for event source

### Component B: Funding and rollover fees
- **Purpose**: Capture funding and rollover fees that accrue to liquidity providers
- **Logic**: Parse `FeesCharged` events from the `HSPairInfos` contract which contain funding and rollover fees charged on perpetual positions. These fees are distinct from trading fees and represent ongoing costs for maintaining leveraged positions. Sum the `rolloverFees` and `fundingFees` fields as both flow entirely to liquidity providers. Set revenue amounts to zero since these are purely supply-side fees.
- **Key fields**: `rolloverFees` and `fundingFees` containing fee amounts, `block_timestamp` for timing, `address` for the account

### Component C: Fee standardization and metadata
- **Purpose**: Standardize all fee events with consistent business classification and chain metadata
- **Logic**: Union trading fees and funding fees into a single dataset. Apply standardized metadata including chain designation as zkSync Era, business line as "Perpetual trading", market sector as "derivatives", business segment as "perpetual", and product ID as "holdstationdefuturesv1". Use USDC contract address `0x3355df6d4c9c3035724fd0e3914de96a5a83aaf4` as the token address for all fees since Holdstation operates with USDC as the primary settlement currency.
- **Key fields**: Standardized `chain`, `business_line`, `market_sector_id`, `business_segment_id`, `product_id` fields

### Final aggregation
- **Combining components**: Merge trading fees and funding fees using union operation, maintaining separate tracking of supply-side amounts (`lp_bot_amount`) versus zero revenue amounts for this metric
- **Currency conversion**: Apply decimal correction to convert raw blockchain token amounts to proper USDC decimal format, then convert to USD using end-of-day price feeds matched by token address and date
- **Time aggregation**: Truncate timestamps to daily boundaries using `timestamp_trunc` function, group all fees by day, account address, and token address
- **Final calculation**: Sum all supply-side fee amounts (LP fees, NFT bot fees, funding fees, rollover fees) by day and account, apply zero-filling for missing dates within data availability windows, and filter results based on chain data availability periods

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

Portion of fees distributed to service providers or supply-side participants.

HoldstationHOLD

Supply-side fees

Supply-side fees

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