Validators process transactions and receive fees from users (supply-side fees).

Mina is a smart contract platform for decentralized applications (a blockchain). Mina was founded by Evan Shapiro & Izaak Meckler and launched in 2017.

Mina’s investors include Pantera Capital, FTX Ventures, Circle Ventures, etc.

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Blockchains (L1)

Mina Protocol

# Mina Protocol Token incentives Methodology

## 1. Overview

Token incentives represent the amount of MINA tokens distributed as rewards within the Mina protocol ecosystem on a daily basis. This metric captures the total value of token-based incentives paid out to participants in the network, including validators, delegators, and other ecosystem participants. The calculation aggregates all token incentive distributions from blockchain data, converts amounts to USD, and provides daily totals to track incentive spending over time.

## 2. Data sources

The calculation uses the following raw data sources:

- **Mina protocol incentives data**: Raw token incentive records from Mina blockchain operations, containing block-level information about token distributions including timestamps, block heights, and incentive amounts
- **End-of-day price feeds**: CoinGecko price data for MINA token to enable USD conversion of incentive amounts
- **Chain availability data**: Configuration data defining active operational periods for the Mina blockchain

## 3. Step-by-step calculation

### Component A: Raw incentives processing
- **Purpose**: Extract and normalize raw token incentive data from Mina blockchain operations
- **Logic**: Raw token incentive records are extracted from Mina protocol data containing `block_timestamp`, `block_height`, and `token_incentives` amounts. The raw incentive amounts are converted from integer format to decimal representation by dividing by 10^9 (reflecting Mina's 9-decimal precision). Each record is labeled with chain identifier "mina", token symbol "MINA", contract name "MINA", and CoinGecko ID "mina-protocol" for downstream processing.
- **Key fields**: `block_timestamp` for timing, `block_height` for blockchain reference, `amount` as the decimal-adjusted incentive value, and standardized metadata fields for token identification

### Component B: Daily aggregation
- **Purpose**: Sum all token incentives within each calendar day
- **Logic**: Token incentive records are grouped by day using timestamp truncation to daily boundaries. All incentive amounts within each day are summed to produce daily totals. Business metadata is applied including categorization as "Blockchain" business line, "blockchains_l1" market sector, and "blockchain" business segment. The aggregation ensures no double-counting while capturing all incentive distributions for each day.
- **Key fields**: `daily_timestamp` as the day boundary, `token_incentives` as the summed daily amount, plus business classification fields

### Component C: USD conversion
- **Purpose**: Convert MINA token amounts to USD values using market prices
- **Logic**: Daily token incentive totals are converted to USD using end-of-day CoinGecko price feeds for MINA token. The conversion matches incentive dates with corresponding price dates to ensure accurate valuation. This enables USD-denominated analysis and comparison across different time periods.
- **Key fields**: USD-converted `token_incentives` amounts alongside original token amounts

### Final aggregation
- **Combining components**: Daily MINA token incentive amounts and their USD equivalents are combined into standardized metric format
- **Currency conversion**: USD conversion uses end-of-day CoinGecko prices matched to incentive distribution dates
- **Time aggregation**: Data is aggregated to daily boundaries with timestamp truncation ensuring consistent daily totals
- **Final calculation**: The final metric represents the total USD value of MINA token incentives distributed each day, with gap-filling applying zero values for days with no recorded incentive distributions and chain availability filters ensuring data is only included for active operational periods of the Mina blockchain

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

Value of native tokens distributed as incentives.

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