Swappers provide liquidity and execute trades. They receive trading fees charged for each swap.

Mean Finance is a protocol that enables users to Dollar Cost Average (DCA) any ERC20 into any ERC20 with their preferred period frequency.

Mean Finance team owns and governs the protocol. They currently take a cut of the total trading fees paid by traders (revenue).

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Exchanges (DEX)

Mean Finance

# Mean Finance Revenue Methodology

## 1. Overview

The Mean Finance revenue metric measures the daily USD value of platform fees collected by Mean Finance's DCAHub protocol across multiple blockchain networks. Mean Finance operates as a decentralized exchange (DEX) that facilitates automated Dollar Cost Averaging (DCA) trading strategies, collecting platform fees on each swap executed. The metric captures both direct revenue from swap fees and attributed revenue for ERC4626 vault tokens where fees are collected on the underlying assets.

## 2. Data sources

- **DCAHub swap events**: Parsed `Swapped` events from Mean Finance's DCAHub contracts across Ethereum, Optimism, Polygon, Arbitrum, and BSC networks containing platform fee information
- **ERC4626 factory events**: Contract creation events from various Mean Finance factory contracts including `StakeableEulerERC4626Factory`, `EulerERC4626Factory`, `AaveV3ERC4626Factory`, and `VenusERC4626Factory` tracking vault token deployments
- **Beefy Wrapper events**: `ProxyCreated` events from Beefy Wrapper factory contracts on BSC network
- **ERC20 approval events**: Token approval events on BSC used to identify underlying tokens for Beefy Wrapper vaults
- **Token price feeds**: End-of-day token price feeds for USD conversion and decimal normalization
- **Chain availability data**: Metadata defining which chains are available for each time period

## 3. Step-by-step calculation

### Component A: Direct revenue collection
- **Purpose**: Captures platform fees directly from Mean Finance DCAHub swap events
- **Logic**: Extracts `Swapped` events from DCAHub contracts across five blockchain networks (Ethereum, Optimism, Polygon, Arbitrum, BSC). Each swap event contains a `swapInformation` structure with a `tokens` array that includes `platformFee` amounts for each token involved in the swap. The calculation unnests this token array to create individual records for each token's platform fee, ensuring all fee revenue is captured at the token level.
- **Key fields**: `platformFee` amounts from the unnested `tokens` array, `account_address` as the DCAHub contract address, `token_address` from the unnested tokens, `block_timestamp` for daily aggregation

### Component B: ERC4626 vault revenue attribution
- **Purpose**: Attributes platform fees to underlying tokens when fees are collected on ERC4626 vault tokens
- **Logic**: Creates a second revenue stream by joining the direct revenue collection data with an ERC4626 allowlist dimension table. This dimension table maps vault contract addresses (created through various factory contracts) to their underlying asset token addresses. The join uses the DCAHub contract address and vault address to identify when fees collected on vault tokens should be attributed to the underlying assets.
- **Key fields**: Same revenue amounts but with `token_address` replaced by the underlying asset address from the dimension table

### Component C: ERC4626 allowlist dimension
- **Purpose**: Maintains mapping between ERC4626 vault tokens and their underlying assets
- **Logic**: Tracks vault creation events from multiple Mean Finance factory contracts across different chains. For most chains, uses `CreateERC4626` events that contain `vault` and `asset` address pairs. For BSC, uses a special case combining Beefy Wrapper factory `ProxyCreated` events with ERC20 `Approval` events to identify the underlying tokens. Each factory has a specific prefix identifier for categorization.
- **Key fields**: `account_address` as vault address, `token_address` as underlying asset address, `chain` and `version` for proper joining

### Final aggregation
- **Combining components**: Unions the direct revenue stream with the attributed vault revenue stream, creating comprehensive coverage of all platform fees whether collected directly or through vault tokens
- **Currency conversion**: Applies standard USD conversion using end-of-day price feeds with automatic decimal correction based on token metadata to ensure proper normalization across different token types
- **Time aggregation**: Truncates all timestamps to daily boundaries using `timestamp_trunc` for consistent daily reporting periods
- **Final calculation**: Sums all platform fee revenues by day, chain, and business classification (Exchange AMM, exchanges sector, DEX segment), applies zero-filling strategy to ensure continuous time series data, and filters results based on chain availability periods to exclude data from unsupported time ranges

*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.

Mean Finance

Revenue

Revenue

Competitive landscape

Chain breakdown