Liquidity providers deposit funds into IPOR Protocol and receive trading fees and asset management yield (supply-side fees).

IPOR Protocol is a non-custodial exchange for interest rate swaps built on Ethereum. IPOR Protocol was founded by Darren Camas & Dimitar Dinev, and was launched in August 2022.

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

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IPOR Protocol

# IPOR Protocol Token incentives Methodology

## 1. Overview

The IPOR token incentives metric measures the total value of IPOR tokens distributed as rewards to protocol users on a daily basis. This metric captures incentive payments from both IPOR protocol versions (v1 and v2) on Ethereum, providing a comprehensive view of token-based user rewards in the interest rate derivatives ecosystem. The calculation aggregates reward distribution events, converts token amounts to USD values, and presents the data as a daily time series.

## 2. Data sources

The calculation uses the following raw data sources:

- **Blockchain events**: Parsed Ethereum event logs from two IPOR protocol versions
  - IPOR v1: `PowerToken` contract `RewardsReceived` events containing reward distributions
  - IPOR v2: `LiquidityMining` contract `Claimed` events representing user reward claims
- **External data**: End-of-day token price feeds for USD conversion of IPOR token amounts
- **Token metadata**: IPOR token contract information including decimal precision for proper amount calculation
- **Protocol metadata**: Hardcoded IPOR token address (`0x1e4746dc744503b53b4a082cb3607b169a289090`) used consistently across both protocol versions

## 3. Step-by-step calculation

### Component A: Token incentive event extraction
- **Purpose**: Collect all IPOR token reward distribution events from both protocol versions
- **Logic**: Extract reward events from two different contract types on Ethereum. From IPOR v1, collect `PowerToken` contract `RewardsReceived` events that represent token rewards distributed to users. From IPOR v2, collect `LiquidityMining` contract `Claimed` events that represent user claims of accrued rewards. Both event types contain a `rewardsAmount` field indicating the quantity of IPOR tokens distributed.
- **Key fields**: `block_timestamp` for timing, `transaction_hash` and `log_index` for event identification, `rewardsAmount` containing the raw token amount distributed

### Component B: Data standardization and classification
- **Purpose**: Normalize data structure and apply consistent business classifications across protocol versions
- **Logic**: Standardize both event types with consistent metadata fields. Apply business classification: `business_line` as "Interest rate swaps", `market_sector_id` as "derivatives", `business_segment_id` as "perpetual". Track protocol `version` (v1 or v2) and set `chain` as "ethereum". Use the hardcoded IPOR token address for consistent token identification. Set `product_id` as null since this metric aggregates across all IPOR products.
- **Key fields**: `chain` set to "ethereum", `version` tracking protocol version, `token_address` set to IPOR token contract address, `amount` extracted from `rewardsAmount`

### Component C: Temporal aggregation and currency conversion
- **Purpose**: Aggregate incentive amounts to daily level and convert to USD values
- **Logic**: Truncate `block_timestamp` to daily boundaries to group all incentive events by day. Sum token amounts within each day to get total daily incentives. Apply decimal correction to convert raw token amounts to proper decimal representation. Convert daily token amounts to USD using end-of-day price feeds for the IPOR token.
- **Key fields**: `timestamp` truncated to day level, `token_incentives` as the daily sum of incentive amounts, USD-converted values

### Final aggregation
- **Combining components**: No additional combining needed as data flows through a single processing chain from raw events to final metric
- **Currency conversion**: USD conversion applied using end-of-day IPOR token prices with automatic decimal correction based on token metadata
- **Time aggregation**: Daily boundaries determined by truncating event timestamps to day level, with all incentive events within a day summed together
- **Final calculation**: The final metric represents the total USD value of IPOR tokens distributed as incentives on each day, with zero-filling applied to ensure complete daily time series coverage and chain availability filtering to restrict results to supported chains

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

Value of native tokens distributed as incentives.

IPOR ProtocolIPOR

Token incentives

Token incentives

Competitive landscape