Liquidity providers deposit NFTs and funds into Sudoswap and receive trading fees, and creators receive royalties from users (supply-side fees).

Sudoswap is a non-custodial NFT marketplace protocol built on Ethereum. Sudoswap was founded by Owen Shen and launched in 2022.

Team and investors own and govern the protocol. They currently take a cut of the total fees paid by users (revenue).

github

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discord

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NFT marketplaces

Sudoswap

# Sudoswap Expenses Methodology

## 1. Overview

The expenses metric for Sudoswap tracks token-based incentives paid to users or liquidity providers. Currently, Sudoswap operates without any token incentive programs, so expenses are consistently zero across all time periods and chains. The metric maintains the same dimensional structure as other Sudoswap metrics (daily timestamps, chain IDs, product IDs) to ensure consistency in reporting and allow for future token incentive programs.

## 2. Data sources

- **Ethereum function call traces**: Sudoswap v1 pair creation, token swaps, NFT swaps, and fee changes
- **Ethereum function call traces**: Sudoswap v2 pair creation, NFT trades, and bonding curve calculations  
- **Ethereum event logs**: Royalty payment events and trading activity
- **End-of-day token price feeds**: Token pricing data for USD conversion (used in underlying fee calculations)
- **Token metadata**: Decimal precision data for proper token amount handling

## 3. Step-by-step calculation

### Component A: Dimensional structure extraction
- **Purpose**: Establish the time series and dimensional framework for expenses reporting
- **Logic**: Extract unique combinations of `timestamp`, `timestamp_grain`, `chain_id`, and `product_id` from the fees model, which aggregates all Sudoswap trading activity across both v1 and v2 protocols. This ensures expenses are reported for every day and chain where Sudoswap has trading activity, maintaining consistency with other metrics.
- **Key fields**: `timestamp` (daily boundaries), `timestamp_grain` (always 'day'), `chain_id` (blockchain identifier), `product_id` (protocol identifier)

### Component B: Token incentives calculation
- **Purpose**: Calculate actual token incentives paid by the protocol
- **Logic**: For each record in the dimensional structure, set `token_incentives` to zero. This reflects Sudoswap's current operational model where no token-based rewards or incentives are distributed to users or liquidity providers.
- **Key fields**: `token_incentives` (hardcoded to 0)

### Final aggregation
- **Combining components**: The token incentives values are directly renamed to `expenses` without any mathematical operations since all values are zero
- **Currency conversion**: Not applicable since values are zero
- **Time aggregation**: Daily boundaries are maintained from the underlying dimensional structure  
- **Final calculation**: Expenses = token incentives (which equals zero for all records)

The methodology produces a complete time series of daily expense values for each chain where Sudoswap operates, with all values set to zero to reflect the absence of token incentive programs. This structure allows for easy integration of future token incentive mechanisms without requiring changes to downstream reporting systems.

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

Total project operating and incentive expenses.

SudoswapSUDO

Expenses

Expenses

Competitive landscape

Chain breakdown