Integral provides low slippage on large trades by executing orders using a time-weighted average price (TWAP).

Integral is a non-custodial TWAP-based exchange on Ethereum and Arbitrum that specializes in handling large trades with low slippage. Integral was founded by a group of pseudonymous developers, mathematicians and financial engineers, and their flagship product Integral SIZE was launched in 2022.

ITGR tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue).

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Integral

# Integral Fees Methodology

## 1. Overview

The Integral fees metric measures the total fees earned by the Integral protocol from trading activity on its automated market maker (AMM) exchange. The calculation multiplies daily trading volume by the applicable fee tier for each trading pair. Integral operates on Ethereum and Arbitrum chains, and fees are calculated by applying dynamic fee rates to USD-denominated trading volumes, with built-in protection against price manipulation.

## 2. Data sources

The calculation relies on the following raw blockchain and external data sources:
- **Parsed swap events**: `TwapPair_Swap_event` logs from Integral's trading pair contracts on Ethereum and Arbitrum, containing token inflow and outflow amounts
- **Pair creation events**: `TwapFactory_PairCreated_event` logs that identify trading pairs and their constituent token addresses
- **Fee setting events**: `TwapPair_SetSwapFee_event` logs that record fee tier updates for each trading pair
- **End-of-day price feeds**: Daily USD price data for all traded tokens
- **Token metadata**: Token symbols and decimal place information for proper amount calculations

## 3. Step-by-step calculation

### Component A: Trade volume extraction
- **Purpose**: Extract and process individual swap transactions to calculate trading volumes
- **Logic**: Parse `TwapPair_Swap_event` logs from Ethereum and Arbitrum to extract token amounts. Calculate net token changes by subtracting outflow amounts from inflow amounts for both tokens in each trading pair. Each swap event contains `amount0In`, `amount0Out`, `amount1In`, and `amount1Out` fields, which are processed to determine the actual token amounts exchanged (token0_amount = `amount0In` - `amount0Out`, token1_amount = `amount1In` - `amount1Out`)
- **Key fields**: `account_address` (trading pair contract), `token0_amount` and `token1_amount` (net token changes), `block_timestamp`, `transaction_hash`, `log_index`

### Component B: Trading pair identification
- **Purpose**: Map trading pair contracts to their underlying token addresses and metadata
- **Logic**: Process `TwapFactory_PairCreated_event` logs to identify all trading pairs created on the platform. Extract the trading pair contract address along with the two constituent token addresses. Enrich with token metadata by joining with token reference data to get decimal places and symbols, then create readable pair names by concatenating token symbols
- **Key fields**: `account_address` (pair contract), `token0_address`, `token1_address`, `token0_decimals`, `token1_decimals`, `account_name` (formatted as "TOKEN0-TOKEN1")

### Component C: Fee tier determination
- **Purpose**: Track dynamic fee rates for each trading pair over time
- **Logic**: Process `TwapPair_SetSwapFee_event` logs to capture fee tier updates. Convert raw fee values from wei to decimal format by dividing by 10^18. Apply daily aggregation using average function when multiple fee updates occur on the same day. Use fill-forward logic to propagate the most recent fee tier for each trading pair on days when no fee updates occur, ensuring continuous fee tier coverage
- **Key fields**: `account_address`, `fee_tier` (as decimal percentage), `timestamp`

### Component D: Volume USD conversion
- **Purpose**: Convert token amounts to USD values with price manipulation protection
- **Logic**: Join trade data with trading pair information and fee tiers by matching timestamp, chain, and account address. Correct token amounts by dividing by the appropriate decimal places (10^token_decimals). Convert both token amounts to USD by multiplying with end-of-day price feeds. Apply price manipulation protection by taking the smaller USD value between the two tokens using the LEAST function. Aggregate results daily by trading pair, summing all trading volume within each 24-hour period
- **Key fields**: `trading_volume` (USD value), `timestamp`, `fee_tier`

### Final aggregation
- **Combining components**: Trading volume and fee tier data are already combined in the intermediate model through joins on timestamp, chain, and account address
- **Currency conversion**: All trading volumes are converted to USD using end-of-day price feeds, with price manipulation protection applied by selecting the minimum USD value between paired tokens
- **Time aggregation**: Data is aggregated to daily boundaries using timestamp truncation to day level
- **Final calculation**: Fees are calculated as trading_volume × fee_tier for each trading pair and day. The result undergoes final metric processing using the finalize_metric_fees macro with a 'fill_zeros' strategy to handle missing data points and ensure consistent time series coverage across all trading pairs and dates

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

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

IntegralITGR

Fees

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