Liquidity providers deposit funds into Mummy Finance and receive trading fees from traders (supply-side fees).

Mummy Finance is a non-custodial exchange for spot and perpetual contracts built on Fantom, Optimism, and Arbitrum. Mummy Finance was founded by an anonymous team and was launched in December 2022.

MMY tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue).

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Mummy Finance

# Mummy Finance Earnings Methodology

## 1. Overview

Mummy Finance earnings represents the protocol's net profit calculated as revenue minus expenses. Revenue comes from the protocol's share of trading fees (40% of total fees collected), while expenses consist of escrowed token incentives paid to users. This metric measures the protocol's profitability after accounting for user reward costs across Arbitrum, Fantom, and Optimism deployments.

## 2. Data sources

- **Perpetual trading fees**: Parsed `CollectMarginFees` events from Mummy Vault contracts capturing margin fees paid during leveraged perpetual trading
- **Spot trading fees**: Parsed `CollectSwapFees` events from Mummy Vault contracts capturing fees paid during spot token swaps  
- **Token incentives**: Parsed `Claim` events from `StakedMmyTracker` and `StakedMlpTracker` contracts capturing escrowed MMY token rewards claimed by users
- **Price feeds**: End-of-day token price feeds for USD conversion of fees and incentives
- **Token metadata**: Token symbol and decimal information for proper fee and incentive processing
- **Revenue configuration**: Protocol-defined revenue percentage split (40% to protocol, 60% to liquidity providers)

## 3. Step-by-step calculation

### Component A: Fee collection
- **Purpose**: Capture all trading fees generated by the protocol from both perpetual and spot trading activities
- **Logic**: Extract fee amounts from `CollectMarginFees` events (perpetual trading) and `CollectSwapFees` events (spot trading) across Vault contracts on Arbitrum, Fantom, and Optimism. Each event contains a `feeTokens` field indicating the fee amount and `token` field indicating the fee token. Join with token metadata to get proper symbols and decimal places. Convert all fee amounts to USD using end-of-day price feeds with decimal correction. Aggregate fees daily by chain and token type.
- **Key fields**: `feeTokens` (fee amount), `token` (fee token address), `block_timestamp` (transaction timing)

### Component B: Revenue calculation  
- **Purpose**: Calculate protocol revenue as the protocol's share of total fees collected
- **Logic**: Apply a fixed 40% revenue percentage to total fees. This percentage has been constant since December 2, 2022, when fee generation began. The remaining 60% represents supply-side fees that go to liquidity providers. Revenue is calculated by multiplying daily aggregated fees by 0.4.
- **Key fields**: `fees` (total daily fees), `revenue_percentage` (40% protocol share)

### Component C: Token incentive expenses
- **Purpose**: Track escrowed token incentives paid out as user rewards, which represent protocol expenses  
- **Logic**: Collect `Claim` events from `StakedMmyTracker` and `StakedMlpTracker` contracts where users claim escrowed MMY (esMMY) token rewards. These escrowed tokens must be vested for one year before becoming liquid MMY tokens. Extract `amount` fields from claim events and convert to USD using Fantom MMY token prices exclusively, even for incentives distributed on Arbitrum or Optimism, due to incomplete price data availability on other chains. Aggregate incentives daily by chain.
- **Key fields**: `amount` (incentive token quantity), `token_address` (MMY token address), `real_chain` (actual distribution chain)

### Final aggregation  
- **Combining components**: Revenue and expenses are calculated independently then combined using the earnings formula: Earnings = Revenue - Expenses
- **Currency conversion**: All fee and incentive amounts are converted to USD using end-of-day price feeds with proper decimal correction based on token metadata
- **Time aggregation**: Daily aggregation using block timestamp truncated to day level, with zero-filling applied for missing days to ensure complete time series
- **Final calculation**: Daily earnings equals daily revenue (40% of fees in USD) minus daily expenses (token incentives in USD), with chain-specific filtering applied based on data availability

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

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

Mummy Finance

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