# Katana AUSD Yield Revenue Methodology

## 1. Overview

Revenue measures the portion of fees retained by Katana AUSD Yield, as determined by its take rate. Specifically, the Treasury bill (T-bill) yield share distributed by Agora to the Katana-controlled Safe is captured. Because no supply-side payout is associated with this product, 100% of the collected yield is retained by the protocol and classified as protocol revenue. This metric is utilized to assess the direct earnings generated by Katana AUSD Yield from its integration with Agora.

## 2. Data sources

- **Blockchain events**: ERC-20 `Transfer` events to the Katana-controlled Safe, covering Katana Chain
- **External data**: End-of-day price feeds and asset metadata for the AUSD asset

## 3. Step-by-step calculation

### Component A: Agora AUSD yield inflow tracking

- **Purpose**: The identification and extraction of AUSD yield distributions sent to the Katana-controlled Safe.
- **Logic**: ERC-20 `Transfer` events on Katana Chain are filtered to isolate transactions where the recipient address matches the Katana-controlled Safe and the asset address matches the AUSD asset. Transactions marked as removed are excluded. The native transfer values are extracted to represent the raw yield inflows.
- **Key fields**: `block_timestamp` (timing), `amount` (native transfer value), `token_address` (asset identification)

### Component B: Decimal normalization and USD conversion

- **Purpose**: The normalization of native asset amounts and conversion to USD.
- **Logic**: Raw yield amounts are normalized by the decimal precision of the AUSD asset using asset metadata. The normalized amounts are then multiplied by the end-of-day price of AUSD extracted from external price feeds to determine the USD-denominated value.
- **Key fields**: `yield_amount` (normalized yield), `price_usd` (asset price)

### Component C: Revenue aggregation

- **Purpose**: The aggregation of daily yield values to calculate final protocol revenue.
- **Logic**: Daily yield values are summed by day and product ID. Because no supply-side fees are distributed to external participants for this product, the total fees collected from the Agora yield share are mapped directly to protocol revenue. A zero-filling strategy is applied to ensure continuous daily data coverage.
- **Key fields**: `timestamp` (daily boundaries), `revenue` (final USD value)

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

fees * take_rate (illustrative — revenue is observed directly per project, not derived from take_rate)

Fee revenue retained after supply-side payouts. Before cost of revenue (e.g. L2 DA fees) and before operating expenses.

Revenue

Stablecoins

The network uses pessimistic proofs via the AgglayerGateway for settlement on Ethereum, with vault bridges for cross-chain asset transfers.

Katana Network provides a scalable execution environment connected to Ethereum through the Agglayer interoperability layer.