Creators & users sell NFTs on LooksRare. They receive royalties from secondary sales (supply-side fees).

LooksRare is a non-custodial NFT marketplace protocol built on Ethereum and launched in 2022.

LOOKS tokenholders own and govern the protocol. They currently take a cut of the total transaction fees paid by buyers (revenue).

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LooksRare

# LooksRare Earnings Methodology

## 1. Overview

LooksRare earnings represents the daily profit generated by the LooksRare NFT marketplace, calculated as total revenue minus total expenses. This metric captures LooksRare's net income from both its native exchange operations and aggregator services, accounting for token incentive costs. The calculation uses the formula: Earnings = Revenue - Expenses, where both components are measured in USD and aggregated daily.

## 2. Data sources

The calculation relies on several categories of blockchain data:

- **LooksRare exchange events**: Parsed `TakerBid` and `TakerAsk` events from LooksRare Exchange v1 and v2 contracts on Ethereum, containing trade details, prices, and fee information
- **Royalty payment events**: Parsed `RoyaltyPayment` events from LooksRare Exchange v1 for complete fee calculation  
- **Seaport trading events**: Parsed `OrderFulfilled` events from Seaport protocol versions 1.1 through 1.6 on Ethereum, containing offer and consideration arrays that define trade terms
- **Seaport matching events**: Parsed `OrdersMatched` events across Seaport versions to identify matched order scenarios
- **Token incentive events**: Parsed `Claim` and `RewardsClaim` events from three LooksRare reward distribution contracts (MultiRewardsDistributor, TradingRewardsDistributor, SeasonRewardsDistributor)
- **External data**: End-of-day token price feeds for USD conversion and token metadata for decimal correction

## 3. Step-by-step calculation

### Component A: Native exchange revenue
- **Purpose**: Captures protocol fees from trades executed directly on LooksRare's exchange
- **Logic**: Processes `TakerBid` and `TakerAsk` events from both Exchange v1 and v2 contracts. For v1 trades, calculates protocol fees as 2% of the trade `price` field. For v2 trades, extracts protocol fees directly from the `feeAmounts` array at index 2. Joins v1 events with `RoyaltyPayment` events by `transaction_hash`, `account_address`, and `tokenId` to capture complete fee information. Converts null or zero token addresses to WETH address for price conversion consistency.
- **Key fields**: Extracts `price` (trade value), `orderHash` (unique trade identifier), `collection` (NFT contract), `currency` (payment token), `taker` and `maker` (buyer/seller addresses), and calculated `protocol_fee_amount`

### Component B: Seaport aggregator revenue  
- **Purpose**: Captures fees when LooksRare facilitates trades on Seaport protocol as an aggregator
- **Logic**: Processes `OrderFulfilled` events from Seaport versions 1.1-1.6, analyzing both `offer` and `consideration` arrays to identify NFT trades and fee recipients. Classifies items by `itemtype` (0,1 for currencies, 2,3 for NFTs) and detects when fees are sent to LooksRare's fee account address. Handles complex scenarios including matched orders, direct sales, and multi-token trades. Only includes transactions where the `consideration.recipient` or main `recipient` equals LooksRare's fee account address 0x1838de7d4e4e42c8eb7b204a91e28e9fad14f536. Cross-references with matched order events to apply different calculation logic for matched vs unmatched trades.
- **Key fields**: Processes `offer` and `consideration` arrays, extracts `amount` fields for fees, identifies `recipient` addresses, and captures `orderHash` and NFT details

### Component C: Token incentive expenses
- **Purpose**: Captures costs from LOOKS token rewards distributed to users
- **Logic**: Processes `Claim` and `RewardsClaim` events from three reward distribution contracts. All events involve the LOOKS token (address 0xf4d2888d29d722226fafa5d9b24f9164c092421e) distributed to users for various activities. Extracts the reward `amount` from different field names depending on the contract (`totalAmount`, `Amount`, or `amount`). Records the `user` address receiving rewards and `rewardRound` for tracking purposes.
- **Key fields**: Extracts `amount` (reward quantity), `user` (recipient address), and `rewardRound` (distribution cycle identifier)

### Final aggregation
- **Combining components**: Sums all native exchange protocol fees and Seaport aggregator fees to calculate total daily revenue. Sums all token incentive distributions to calculate total daily expenses. Both calculations group by timestamp truncated to day boundary.
- **Currency conversion**: Applies decimal correction using token metadata, then converts all amounts to USD using end-of-day price feeds. Handles special cases like converting zero/null addresses to WETH for consistent price lookups.
- **Time aggregation**: Truncates `block_timestamp` to daily boundaries using `timestamp_trunc(block_timestamp, day)` and groups all calculations by this daily timestamp.
- **Final calculation**: Subtracts total daily expenses from total daily revenue using the `calculate_earnings` macro. Applies zero-filling strategy to ensure no gaps in the daily time series, creating complete historical records even for days with no activity.

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

Net profit (also profits, net income, profitability) — revenue remaining after subtracting expenses.

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