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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Exchanges (DEX)

Integral

# Integral Token incentives Methodology

## 1. Overview

Token incentives measures the total value of native tokens distributed as liquidity mining rewards to users on the Integral protocol. This metric captures the cost of incentivizing liquidity provision and trading activity by tracking when users claim their earned ITGR token rewards through Integral's Merkle-based distribution system. The metric provides insight into the protocol's expenditure on user acquisition and retention through token-based rewards.

## 2. Data sources

- **Blockchain events**: Parsed Ethereum `Claim` events from Integral's `IntegralMerkleTimeRelease` smart contract system
- **Contract metadata**: Hardcoded list of 13 known Merkle Time Release incentive distribution contract addresses
- **External data**: End-of-day token price feeds for USD conversion of ITGR token amounts
- **Token metadata**: Decimal precision information for proper unit conversion from raw blockchain values

## 3. Step-by-step calculation

### Component A: Raw incentive claim extraction
- **Purpose**: Extracts individual liquidity incentive claim events from Ethereum blockchain
- **Logic**: Identifies and processes `Claim` events emitted by Integral's MerkleTimeRelease contracts when users claim their earned ITGR rewards. Each event contains the claiming account address, block timestamp, transaction details, and the raw token amount being claimed. The `option2Amount` field from the event contains the ITGR token amount being distributed as an incentive payment.
- **Key fields**: `block_timestamp` for timing, `address` as the claiming account, `option2Amount` as the raw token amount, `transaction_hash` and `log_index` for event identification

### Component B: Account classification and mapping
- **Purpose**: Maps raw account addresses to human-readable contract names and validates known incentive distribution accounts
- **Logic**: Uses a predefined list of 13 Ethereum addresses that correspond to Merkle Time Release incentive distribution contracts. Each address is mapped to the standardized name "Merkle Time Release Incentives" to identify the type of incentive program. This ensures only legitimate incentive distribution events are included and provides clear labeling for reporting purposes.
- **Key fields**: `account_address` for mapping, `account_name` for human-readable identification, `chain` for blockchain specification

### Component C: Business dimension assignment
- **Purpose**: Applies consistent business categorization to all incentive events
- **Logic**: Assigns standardized business metadata to classify these incentives within Token Terminal's framework. All Integral liquidity incentives are categorized as "Exchange AMM" for business line, "exchanges" for market sector, "dex" for business segment, version "v1" for protocol version, and the hardcoded ITGR token address for token identification.
- **Key fields**: `business_line`, `market_sector_id`, `business_segment_id`, `product_id`, `version`, `token_address`

### Final aggregation
- **Combining components**: The facts table joins with the dimensions table on `account_address` to enrich raw blockchain events with account names and business metadata, ensuring only events from known incentive distribution contracts are included
- **Currency conversion**: Raw ITGR token amounts are converted to USD using end-of-day price feeds, with decimal correction applied to convert from blockchain's raw integer representation to proper token units
- **Time aggregation**: Event timestamps are truncated to daily boundaries using `timestamp_trunc` function, creating daily summations of all incentive claims that occurred within each 24-hour period
- **Final calculation**: The metric represents the total USD value of ITGR tokens distributed as liquidity incentives per day, calculated by summing all individual claim amounts after USD conversion and decimal correction, with zero-filling applied for days without any incentive activity

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

Value of native tokens distributed as incentives.

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Token incentives

Token incentives

Competitive landscape

Chain breakdown