Houdini Swap routes users transactions privately through Monero between non-custodial exchanges. Due to the protocols focus on preserving privacy, Token Terminal is unable to calculate the total fees paid by the user, trading volume and active users.

Houdini Swap is a non-custodial DEX aggregator which enables private transactions. Houdini Swap was launched in 2022.

Houdini Swap team & POOF tokenholders govern the protocol. Houdini Swap currently earns a fee from the partner exchanges. In addition, Houdini Swap currently charge a trading tax on the POOF token. Houdini Swap's investors include DreamLabs & Theia Blockchain.

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Houdini Swap

# Houdini Swap Token incentives Methodology

## 1. Overview

The HoudiniSwap token incentives metric measures the daily USD value of token rewards distributed through HoudiniSwap's liquidity mining program. This metric tracks incentive payments made to liquidity providers and stakers through various reward contracts on Ethereum, capturing the protocol's token distribution strategy to bootstrap liquidity and user adoption. The calculation aggregates daily reward payouts from multiple staking contracts and converts them to USD values for standardized reporting.

## 2. Data sources

The calculation relies on the following raw data sources:
- **Blockchain events**: Parsed Ethereum `RewardPaid` events from HoudiniSwap's staking contracts (Staker, Staker2, Staker3, Staker4, Staker6)
- **Blockchain events**: Parsed Ethereum `RewardAdded` events from HoudiniSwap's reward pool contracts
- **External data**: End-of-day price feeds for POOF token USD conversion
- **Token metadata**: POOF token decimal configuration for proper unit calculation
- **Contract mappings**: Predefined mapping of contract addresses to human-readable names

## 3. Step-by-step calculation

### Component A: Liquidity incentive event extraction
- **Purpose**: Extract all reward distribution events from HoudiniSwap's staking infrastructure
- **Logic**: Parse `RewardPaid` events from five different Staker contracts and `RewardAdded` events from RewardsPool contracts on Ethereum. Filter for events containing reward recipient addresses, reward amounts (`reward` field), and transaction metadata. Each event represents a single incentive payment to a liquidity provider or staker. All events are tagged with business metadata including DEX Aggregator business line, exchanges market sector, and dex_aggregator business segment.
- **Key fields**: Extract `block_timestamp` for timing, `transaction_hash` and `log_index` for uniqueness, contract `address` as account address, and `reward` amount as the raw token incentive value. Hardcode the POOF token address `0x888cea2bbdd5d47a4032cf63668d7525c74af57a` for all reward events.

### Component B: Account name mapping
- **Purpose**: Convert contract addresses to human-readable names for better categorization
- **Logic**: Join the incentive events with a predefined mapping table that converts contract addresses to descriptive names. Six specific contract addresses are mapped to either 'Staking Rewards' or 'Reward Pool' categories, providing clarity on the source of each incentive payment.
- **Key fields**: Map `account_address` to `account_name` using the predefined address-to-name mapping, with most contracts categorized as 'Staking Rewards' and one as 'Reward Pool'.

### Component C: USD conversion and decimal correction
- **Purpose**: Standardize reward amounts in USD with proper decimal handling
- **Logic**: Apply Token Terminal's standard USD conversion process using end-of-day price feeds for the POOF token. Correct for token decimals to ensure amounts are expressed in proper token units rather than raw blockchain integer values. This converts the native token amounts to USD values suitable for cross-protocol comparison.
- **Key fields**: Transform the raw `amount` field into USD-denominated `token_incentives` values with decimal correction applied.

### Final aggregation
- **Combining components**: Join the incentive events with account mappings, then apply USD conversion to create a unified dataset of daily incentive payments with readable contract names and USD values
- **Currency conversion**: Use end-of-day POOF token prices to convert native token amounts to USD, ensuring consistent valuation timing across all measurements
- **Time aggregation**: Truncate timestamps to daily boundaries and group all incentive payments by day, summing the total USD value of rewards distributed each day
- **Final calculation**: Sum all USD-converted incentive payments per day across all HoudiniSwap staking and reward contracts, filling missing days with zero values to maintain complete time series data. Apply chain availability filters to ensure data quality and completeness.

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

Value of native tokens distributed as incentives.

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Token incentives

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