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JustLend DAO

# justlend Supply-side fees Methodology

## 1. Overview

Supply-side fees measures the share of interest and staking rewards distributed to liquidity providers and asset stakers on JustLend. The earnings generated by service providers who supply assets to the lending markets or stake assets in the protocol are represented by this metric. For JustLend Markets, the borrower interest paid to asset suppliers after deducting the protocol's reserve factor is captured. For JustLend Staking, the staking rewards distributed to sTRX holders after subtracting the protocol's reserve share are captured.

## 2. Data sources

- **Blockchain events**: `AccrueInterest` and `NewReserveFactor` events from `CErc20Delegator` and `CEther` contracts, and `Income` and `ReservesAdded` events from `STRXProxy` contracts, covering Tron
- **External data**: End-of-day price feeds for native and supported assets

## 3. Step-by-step calculation

### Component A: JustLend Markets interest and reserve tracking

- **Purpose**: Calculate borrower interest and protocol revenue for JustLend Markets
- **Logic**: To calculate borrower interest and protocol revenue for JustLend Markets, `AccrueInterest` events from `CErc20Delegator` and `CEther` contracts are parsed to extract the accumulated interest. To determine the protocol's share, reserve factors are tracked using the launch reserve factors and updated via `NewReserveFactor` events from the same contracts. Protocol revenue is calculated by multiplying the accrued interest by the reserve factor in force at the time of the event. Total fees are represented by the accrued interest, and protocol revenue is subtracted from total fees to determine the supply-side portion.
- **Key fields**: `interestAccumulated` (accumulated interest), `newReserveFactorMantissa` (updated reserve factor)

### Component B: JustLend Staking income and reserve tracking

- **Purpose**: Calculate staking rewards and protocol revenue for JustLend Staking
- **Logic**: To calculate staking rewards and protocol revenue for JustLend Staking, `Income` events from `STRXProxy` contracts are parsed to extract the gross staking income, which is calculated as the sum of the two event arguments representing rent income and voting rewards. To determine the protocol's share, `ReservesAdded` events from the same contracts are parsed to extract the reserve income. Total fees are represented by the gross staking income, and protocol revenue is represented by the reserve income. The protocol revenue is subtracted from total fees to determine the supply-side portion.
- **Key fields**: `arg0` and `arg1` from `Income` events (income components), `arg0` from `ReservesAdded` events (reserve income)

### Component C: USD conversion and aggregation

- **Purpose**: Normalize supply-side fees to USD and aggregate them
- **Logic**: Supply-side fees for both JustLend Markets and JustLend Staking are normalized by decimal precision. For JustLend Markets, amounts are converted to USD using end-of-day price feeds for the underlying assets, with native TRX prices applied to jTRX markets. For JustLend Staking, amounts are converted to USD using end-of-day native TRX price feeds. The supply-side fees from both products are aggregated daily using UTC day boundaries.
- **Key fields**: `timestamp` (timing), `price_usd` (asset prices)

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

Portion of fees distributed to service providers or supply-side participants.

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Supply-side fees

Supply-side fees

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