Lens provides a full-stack platform combining Lens Chain for blockchain infrastructure and Lens Protocol for modular social primitives. Lens Chain offers instant transaction settlement with stable, low costs powered by GHO, backed by Ethereum security. Lens Protocol provides smart accounts with signless and gasless functionality, customizable usernames, graphs, feeds, and groups.

Lens is the full-stack platform for social and financial experiences, enabling developers to build SocialFi applications on-chain. The platform features Lens Chain as its blockchain infrastructure layer optimized for speed and scalability, and Lens Protocol for composable social primitives including accounts, usernames, graphs, feeds, and groups. Lens simplifies onchain adoption through portable data, simple onboarding via email or phone, and settlements in the USD-native stablecoin GHO.

Lens is built by the Aave team and is currently overseen by a multisig.

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# Lens Expenses Methodology

## 1. Overview

Lens expenses represents the token incentives paid out by the Lens Protocol to users or liquidity providers. This metric measures the protocol's direct token-based expenditures to incentivize usage, participation, or liquidity provision. Currently, the Lens Protocol does not distribute token incentives, so this metric consistently returns zero across all time periods and chains.

The calculation establishes the proper data structure and time series framework by leveraging the existing trading volume calculation, then systematically sets all incentive values to zero to reflect the protocol's current operational model.

## 2. Data sources

- **Lens Protocol events**: Parsed `HubEvents_Collected_event` and `HubEvents_Followed_event` logs from Lens Protocol v1 on Polygon, containing encoded payment data for content interactions
- **Token metadata**: Token contract information including decimal precision for amount normalization
- **End-of-day price feeds**: Token price data for USD conversion of payment amounts
- **Protocol configuration**: Lens Protocol's current operational parameters indicating no active token incentive programs

## 3. Step-by-step calculation

### Component A: Trading volume foundation
- **Purpose**: Establish the base time series structure and data framework that expenses will inherit
- **Logic**: Parse Lens Protocol v1 events on Polygon blockchain to extract collect and follow interactions. For `HubEvents_Collected_event` logs, decode the `collectModuleData` field to extract token addresses (substring positions 27-66) and payment amounts (substring positions 67-130). For `HubEvents_Followed_event` logs, similarly decode `followModuleDatas` field. Convert hex-encoded amounts to float64 values and combine both event types into total trading volume. Apply USD conversion using end-of-day price feeds and correct for token decimal places.
- **Key fields**: `block_timestamp` for time aggregation, `token_address` for price lookups, `amount` for payment values, `action_type` to distinguish collects/mirrors from follows

### Component B: Fees structure inheritance  
- **Purpose**: Create fees metric structure that serves as the immediate parent for expenses calculation
- **Logic**: Take the complete trading volume dataset and map it directly to fees with a 1:1 relationship. This assumes all trading volume represents fees collected by the protocol. Maintain all dimensional attributes including timestamp grain, product identification, and chain information. Apply daily time aggregation and ensure no gaps in the time series.
- **Key fields**: `timestamp` aggregated to daily grain, `chain_id` for Polygon, `trading_volume` mapped to `fees`

### Component C: Token incentives zeroing
- **Purpose**: Set all token incentive values to zero reflecting Lens Protocol's current non-incentivized operational model
- **Logic**: Inherit the complete dimensional structure from the fees calculation including all time periods, product identifications, and chain configurations. Systematically set the `token_incentives` field to 0 for every record, ensuring the time series maintains proper structure while accurately representing the absence of incentive programs.
- **Key fields**: All structural fields from fees (`timestamp`, `chain_id`, `product_id`) with `token_incentives` hardcoded to 0

### Final aggregation
- **Combining components**: Map token incentives directly to expenses with a 1:1 relationship where `expenses = token_incentives`
- **Currency conversion**: No additional conversion needed as the underlying structure already includes USD normalization from the trading volume calculation
- **Time aggregation**: Maintain daily aggregation boundaries established in the foundation trading volume calculation  
- **Final calculation**: Expenses equals token incentives, which systematically equals zero for all time periods, resulting in expenses = 0 across the entire dataset. Apply finalization macro to ensure proper schema validation and gap-filling with zero values where needed.

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

Total project operating and incentive expenses.

Lens

Expenses

Expenses

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