# Fluid Lite Fees Methodology

## 1. Overview

Fees measures the total value generated by Fluid Lite, encompassing both automated yield-generating vaults and decentralized exchange operations. For yield vaults, the metric represents the gross interest and yield earned by the strategy before the deduction of protocol performance fees. For the exchange component, fees represent the total cost paid by traders to execute swaps within the specialized pools. These values are used to quantify the total economic activity and value creation facilitated by the Fluid Lite infrastructure.

## 2. Data sources

- **Blockchain events**: `collectRevenueLog`, `LogCollectRevenue`, `updateFeesLog`, and `LogUpdateFees` events from `iETH`, `iDAI`, `iUSDC`, and `iWBTC` contracts, plus `LogSwap` events from `FluidDexLite` contracts, covering Ethereum
- **Blockchain state**: Unclaimed revenue values are captured from Fluid Vault state snapshots on Ethereum
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Yield Fluid Vault revenue capture

- **Purpose**: Identify the protocol's share of yield generated by the automated Fluid Vault strategies.
- **Logic**: Realized protocol revenue is parsed from `collectRevenueLog` and `LogCollectRevenue` events across various asset-specific Fluid Vault contracts. Additionally, unrealized yield is captured by tracking the daily change in unclaimed revenue balances from on-chain state snapshots. The sum of realized and unrealized revenue is then aggregated to determine the total protocol take for the period.
- **Key fields**: `amount`, `unclaimed_revenue_amount`, `token_address`

### Component B: Fluid Vault gross fee derivation

- **Purpose**: Calculate total yield (fees) by backing out the protocol's performance fee percentage.
- **Logic**: Current performance fee rates are extracted from `updateFeesLog` and `LogUpdateFees` events for each Fluid Vault. Total fees are then derived by dividing the captured protocol revenue by the applicable fee rate. For example, if the protocol revenue share is 10% of total yield, the total fees are calculated as `revenue / 0.10`.
- **Key fields**: `fee_rate`, `revenue_fee`, `revenue_fee_percentage`

### Component C: Fluid DEX Lite swap fee extraction

- **Purpose**: Capture fees generated from trading activity in the Fluid Lite exchange pools.
- **Logic**: `LogSwap` events are parsed from `FluidDexLite` contracts to identify trading volume. These events are joined with pool metadata to identify the applicable fee tier for the specific pair. Fees are calculated by multiplying the trade input amount by the pool's specific fee tier percentage.
- **Key fields**: `amount_in`, `fee_tier`, `dex_id`

### Component D: USD conversion and aggregation

- **Purpose**: Normalize fee data into a common currency and time grain.
- **Logic**: All fee components from vaults and exchange pools are normalized based on asset decimal precision. Daily totals are converted to USD using end-of-day price feeds and aggregated by chain and product. Daily granularity is maintained using UTC day boundaries.
- **Key fields**: `block_timestamp`, `token_address`, `price_usd`

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

Total value users pay to use a protocol (gross fees, user-paid fees).

Fees

Lending

Fluid acts as a lending, vault, and DEX platform for seamless DeFi interaction.

Fluid is a non-custodial lending, vaults, and DEX protocol built by Instadapp. Instadapp was founded by Samyak Jain & Sowmay Jain and launched in 2018.

FLUID tokenholders own and govern the protocol. They currently earn a cut of the fees generated through Fluid lending, vault and DEX services. Instadapp's investors include Coinbase Ventures, Pantera Capital, Robot Ventures, etc.

Fluid Lite

Fees

Fees

Chain breakdown