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

SyncSwap is a non-custodial exchange protocol built on zkSync Era (originally a fork of Uniswap). SyncSwap was founded by an anonymous team in 2023.

The SyncSwap team owns and governs the protocol. They currently take a cut of the trading fees paid by the users (revenue).

github

twitter

discord

website

Exchanges (DEX)

SyncSwap

# SyncSwap Fees Methodology

## 1. Overview

SyncSwap fees represent the total fees earned by the protocol from trading activities and flash loans on zkSync Era. The metric combines two main revenue streams: trading fees calculated as a percentage of trading volume based on pool-specific fee tiers, and direct fees collected from flash loan operations. This provides a comprehensive view of SyncSwap's fee generation across both its AMM trading functionality and capital efficiency services.

## 2. Data sources

The calculation relies on several key data sources from zkSync Era:
- **Swap events**: Parsed `ClassicPool_Swap_event` and `StablePool_Swap_event` logs containing token amounts and trading activity
- **Pool creation events**: `StablePoolFactory_PoolCreated_event` and `ClassicPoolFactory_PoolCreated_event` logs defining trading pairs and initial fee structures
- **Fee management events**: `FeeManager_SetPoolSwapFee_event` and `FeeManager_SetPoolProtocolFee_event` logs tracking dynamic fee tier changes
- **Flash loan events**: `Vault_FlashLoan_event` logs containing flash loan amounts and associated fees
- **Transaction data**: zkSync Era transaction records for user identification and context
- **External data**: End-of-day token price feeds for USD conversion and token metadata for decimal normalization

## 3. Step-by-step calculation

### Component A: Trading fee calculation
- **Purpose**: Calculate fees earned from AMM trading activity based on trading volume and pool-specific fee tiers
- **Logic**: Extract swap events from both Classic and Stable pools on zkSync Era. Calculate net token changes for each trade by subtracting outgoing amounts from incoming amounts (`amount0In - amount0Out`, `amount1In - amount1Out`). Join with pool metadata to identify trading pairs and retrieve base fee tiers (0.04% for Stable pools, 0.2% for Classic pools). Apply any fee tier updates by matching transaction ordering using chronological identifiers from fee management events. Convert token amounts using decimal metadata to normalize values. Calculate USD trading volume by converting both token amounts to USD using end-of-day price feeds, then taking the minimum of the two values to prevent price manipulation. Multiply the USD trading volume by the applicable fee tier to determine trading fees for each transaction.
- **Key fields**: `amount0In`, `amount0Out`, `amount1In`, `amount1Out` from swap events, `fee_tier` from pool configuration, `price_usd` from price feeds, `decimals` from token metadata

### Component B: Flash loan fee calculation  
- **Purpose**: Calculate direct fees collected from flash loan operations
- **Logic**: Extract flash loan events from the Vault contract on zkSync Era. Each event contains the loan `amount` and associated `feeAmount` charged for the flash loan. Aggregate flash loan data by day and token. Convert fee amounts from raw token units to normalized decimals using token metadata. Apply USD conversion using end-of-day price feeds to calculate the USD value of fees collected. The fees are directly extracted from the `feeAmount` field without additional percentage calculations.
- **Key fields**: `feeAmount` and `amount` from flash loan events, `price_usd` from price feeds, `decimals` from token metadata

### Final aggregation
- **Combining components**: Union trading fees and flash loan fees into a single dataset, maintaining the same schema structure with timestamp, chain, business categorization, and fee amounts
- **Currency conversion**: All fees are converted to USD using end-of-day token price feeds matched by timestamp, token address, and chain
- **Time aggregation**: Data is aggregated to daily boundaries using timestamp truncation, with transaction-level detail preserved through unique identifiers
- **Final calculation**: The metric represents the sum of (trading volume × fee tier) for AMM trades plus direct flash loan fees, both expressed in USD terms. Missing periods are filled with zero values to ensure continuous time series data through the finalization macro.

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

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

SyncSwap

Fees

Fees

Competitive landscape

Chain breakdown