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

twitter

discord

website

NFT marketplaces

Sudoswap

# Sudoswap Supply-side fees Methodology

## 1. Overview

Supply-side fees represent the total fees earned by liquidity providers and NFT creators on the Sudoswap platform. This metric combines four distinct fee streams: v1 liquidity provider fees, v1 royalty fees, v2 liquidity provider fees, and v2 royalty fees. The calculation aggregates these fees daily and converts them to USD values, providing a comprehensive view of fees flowing to the supply side of Sudoswap's NFT marketplace ecosystem.

## 2. Data sources

- **Ethereum contract function traces**: Sudoswap v1 and v2 pair swap function calls (`swapTokenForSpecificNFTs`, `swapTokenForAnyNFTs`, `swapNFTsForToken`)
- **Ethereum contract function traces**: Sudoswap factory pair creation function calls (`createPairERC20`, `createPairETH`) and fee change function calls
- **Ethereum contract function traces**: Sudoswap v2 bonding curve calculation calls from multiple curve contracts (ExponentialCurve, LinearCurve, GDACurve, XykCurve) with `getBuyInfo` and `getSellInfo` functions
- **Ethereum contract function traces**: RoyaltyEngine contract calls during v2 trades to calculate royalty amounts
- **Ethereum event logs**: Sudoswap v1 router `RoyaltyIssued` events for creator royalty payments
- **End-of-day token price feeds**: For USD conversion of fee amounts across different tokens
- **Token metadata**: For decimal correction and proper fee amount calculation

## 3. Step-by-step calculation

### Component A: v1 liquidity provider fees
- **Purpose**: Calculate fees earned by v1 liquidity providers based on trade volumes and configured fee tiers
- **Logic**: Extract trade volumes from v1 pair swap function calls across three swap types. Join with pair configuration data from factory creation events to get fee tiers and token addresses. Apply time-based logic to ensure correct fee tier is used - trades must occur after the fee tier was set and before any subsequent fee changes. Calculate fees by multiplying trade volume by applicable fee tier. Handle fee changes over time using lead timestamps to determine validity periods for each fee tier.
- **Key fields**: `trade_amount` from swap outputs, `fee_tier` from pair configurations, `block_timestamp` for temporal matching

### Component B: v1 royalty fees  
- **Purpose**: Extract creator royalty payments from v1 router transactions
- **Logic**: Directly extract royalty amounts from `RoyaltyIssued` events emitted by the LSSVMRouterWithRoyalties contract. Join with pair dimension data to get token addresses and other metadata. These represent direct payments to NFT creators during v1 trades.
- **Key fields**: `royalty_amount` from event logs, `pair` address for joining with pair metadata

### Component C: v2 liquidity provider fees
- **Purpose**: Extract pre-calculated LP fees from v2 bonding curve contracts
- **Logic**: Identify v2 trades from swap function calls on ERC721 and ERC1155 pair contracts. Match trades with corresponding bonding curve calculation calls using transaction hash and trace address. Extract `lp_fee_amount` values calculated by curve contracts during `getBuyInfo` and `getSellInfo` function executions. These represent fees earned by v2 liquidity providers based on sophisticated bonding curve mathematics.
- **Key fields**: `lp_fee_amount` from curve contract outputs, trace addresses for matching trades with calculations

### Component D: v2 royalty fees
- **Purpose**: Extract creator royalty payments calculated by the RoyaltyEngine during v2 trades  
- **Logic**: Match v2 trades with RoyaltyEngine function calls using transaction hash and trace address. Extract `royalty_amount` values calculated by the RoyaltyEngine contract, which determines appropriate royalty payments based on NFT collection settings. These represent payments to NFT creators during v2 trades.
- **Key fields**: `royalty_amount` from RoyaltyEngine outputs, trace addresses for matching with trades

### Final aggregation
- **Combining components**: Union all four fee components into a single dataset, with each component contributing its respective fee amounts to the `fees_supply_side` field
- **Currency conversion**: Apply USD conversion using end-of-day price feeds matched by token address and date, with decimal correction based on token metadata to ensure proper scaling
- **Time aggregation**: Truncate timestamps to daily boundaries and group by date, chain, market sector, business segment, product, and token address
- **Final calculation**: Sum all fee amounts by aggregation groups, fill missing days with zeros to maintain continuous time series, and apply chain availability filters to ensure data quality

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

Portion of fees distributed to service providers or supply-side participants.

SudoswapSUDO

Supply-side fees

Supply-side fees

Competitive landscape

Chain breakdown