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Trevee

# Trevee Fees Methodology

## 1. Overview

Fees measures the total economic value generated by Trevee through its yield-bearing assets, voting incentives, and quest-based reward systems. This metric captures the total value paid by users and participants to interact with the protocol's liquidity and incentive layers, including Rings scBTC, Trevee scETH, and Rings scUSD. Fees are primarily composed of yield generated by underlying assets, rewards deposited for voting incentives, and total reward amounts committed to quests.

## 2. Data sources

- **Blockchain events**: `PerformanceFeeUpdated` events from `wstkscBTC`, `wstkscETH`, and `wstkscUSD` contracts; `BudgetDeposited` events from `scBTCVoter`, `scETHVoter`, and `scUSDVoter` contracts; `YieldClaimed` events from `scETHAccountant` and `scUSDAccountant` contracts; `createRangedQuest` and `createFixedQuest` function calls from `QuestRingsveBTC`, `QuestRingsveETH`, `QuestRingsveUSD`, `QuestRingsveBAL`, `QuestRingsveCRV`, and `QuestRingsveFXN` contracts; and ERC-20 `Transfer` events, covering Ethereum and Sonic
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Yield tracking for Trevee scETH and Rings scUSD

- **Purpose**: Capture the total yield generated by Trevee's yield-bearing assets
- **Logic**: `YieldClaimed` events are parsed from `scETHAccountant` and `scUSDAccountant` contracts to identify total yield amounts. Performance fee rates are tracked via `PerformanceFeeUpdated` events from `wstkscBTC`, `wstkscETH`, and `wstkscUSD` contracts to facilitate downstream revenue splits, though the total yield amount is recorded as fees.
- **Key fields**: `amount` (yield quantity), `token_address` (asset identification)

### Component B: Quest reward extraction

- **Purpose**: Capture fees associated with the creation of quests for various voting assets
- **Logic**: `createRangedQuest` and `createFixedQuest` function calls are monitored across quest contracts including `QuestRingsveBTC`, `QuestRingsveETH`, `QuestRingsveUSD`, `QuestRingsveBAL`, `QuestRingsveCRV`, and `QuestRingsveFXN`. The total reward amount specified in these calls is extracted as the fee component.
- **Key fields**: `total_reward_amount` (quest budget), `rewardToken` (asset identification)

### Component C: Voting incentives and gauge revenue

- **Purpose**: Capture value from voting budgets and gauge transfers
- **Logic**: `BudgetDeposited` events are parsed from `scBTCVoter`, `scETHVoter`, and `scUSDVoter` contracts to identify incentive amounts. Additionally, ERC-20 `Transfer` events to designated gauge revenue addresses are aggregated to capture protocol-level revenue transfers.
- **Key fields**: `amount` (incentive or transfer quantity), `token_address` (asset identification)

### Component D: USD conversion and aggregation

- **Purpose**: Normalize all fee components to USD for cross-chain and cross-asset comparison
- **Logic**: All identified fee amounts are normalized by decimal precision based on asset metadata. Values are multiplied by end-of-day price feeds for the respective assets. Daily totals are aggregated by chain and product using UTC day boundaries.
- **Key fields**: `block_timestamp` (timing), `fees` (normalized quantities)

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

Total value users pay to use a protocol (gross fees, user-paid fees).

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Fees

Fees

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