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

Ronin is a smart contract platform for decentralized applications (a blockchain). Ronin was founded by Sky Mavis and launched in 2021.

RON holders own and govern the protocol. They currently don’t take a cut of the total transaction fees paid by users (revenue). Sky Mavis' investors include a16z, Binance, Animoca Brands, etc.

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Ronin

# Ronin Token incentives Methodology

## 1. Overview

Token incentives measures the daily USD value of RON tokens distributed as rewards within the Ronin ecosystem. This metric captures the monetary value of tokens distributed to network participants including stakers, validators, and bridge operators. The calculation aggregates all RON reward distributions from blockchain events, converts them to USD values, and presents them as a daily time series to track the ecosystem's token-based incentive spending.

## 2. Data sources

- **Ronin blockchain event logs**: Parsed events from Ronin blockchain recording reward distributions
  - `ValidatorSet_StakingRewardDistributed` events capturing rewards to RON stakers  
  - `ValidatorSet_MiningRewardDistributed` events capturing rewards to RON validators
  - `ValidatorSet_BridgeOperatorRewardDistributed` events capturing legacy bridge operator rewards (discontinued)
  - `BridgeReward_BridgeRewardScattered` events capturing current bridge operator rewards
- **End-of-day price feeds**: Daily RON token price data for USD conversion
- **Token metadata**: RON token configuration including decimal precision and contract address (`0xe514d9deb7966c8be0ca922de8a064264ea6bcd4`)

## 3. Step-by-step calculation

### Component A: RON reward event extraction
- **Purpose**: Identifies and extracts all RON token reward distributions from Ronin blockchain events
- **Logic**: Searches Ronin blockchain event logs for four specific reward distribution event types. For staking rewards, extracts the `totalAmount` parameter. For mining rewards, bridge operator rewards, and bridge rewards, extracts the `amount` parameter. Each event provides the block timestamp, transaction hash, recipient address, and reward amount in native token format. All events are classified with standard business metadata including chain identifier (ronin), business line (blockchain), market sector (blockchains_l1), and business segment (blockchain)
- **Key fields**: `block_timestamp` for timing, `amount` or `totalAmount` for reward values, `address` for recipient identification, event-specific parameters for reward classification

### Component B: Daily aggregation and USD conversion  
- **Purpose**: Converts raw token amounts to USD values and aggregates by day
- **Logic**: Groups all reward events by day using timestamp truncation to daily boundaries. Applies decimal correction to convert raw blockchain token amounts to proper decimal representation based on RON token configuration. Converts corrected token amounts to USD using end-of-day price feeds matched to the reward distribution date. Maintains all business classification metadata and token address information through the conversion process
- **Key fields**: `timestamp` truncated to day grain, `token_incentives` as the USD-converted reward amount, `token_address` identifying RON token, business classification fields

### Final aggregation
- **Combining components**: All reward types (staking, mining, bridge operator) are combined into a single daily time series representing total RON incentives distributed each day
- **Currency conversion**: RON token amounts are converted to USD using end-of-day price feeds matched to the distribution date, ensuring accurate historical valuations
- **Time aggregation**: Daily boundaries are enforced using timestamp truncation, with all rewards within a calendar day summed together
- **Final calculation**: The final `token_incentives` value represents the total USD value of RON tokens distributed as rewards on each day, with any date gaps filled with zero values to maintain continuous time series data. Chain availability filters ensure data quality and completeness standards are met.

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

Value of native tokens distributed as incentives.

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