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).

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Exchanges (DEX)

SyncSwap

# SyncSwap Token incentives Methodology

## 1. Overview

The SyncSwap token incentives metric tracks the USD value of token rewards distributed to users for providing liquidity or trading on the SyncSwap decentralized exchange. However, SyncSwap does not operate a token incentive program, so this metric is explicitly set to zero across all time periods and product categories. The metric maintains the same dimensional structure as other SyncSwap metrics (fees, revenue) to ensure consistency in reporting and analysis.

## 2. Data sources

While the metric value is hardcoded to zero, it maintains dimensional alignment with the SyncSwap fees calculation, which relies on:

- **Trading events**: Parsed `Swap` events from SyncSwap's ClassicPool and StablePool contracts on zkSync Era
- **Flash loan events**: Parsed `FlashLoan` events from SyncSwap's Vault contract on zkSync Era  
- **Pool creation events**: Parsed `PoolCreated` events from SyncSwap's factory contracts to identify trading pairs
- **Fee update events**: Parsed fee management events that track dynamic fee tier changes
- **Transaction data**: zkSync Era transaction records for user address mapping
- **Token metadata**: Token decimals, symbols, and contract addresses for proper formatting
- **External price data**: End-of-day token price feeds for USD conversion and validation

## 3. Step-by-step calculation

### Component A: Base structure extraction
- **Purpose**: Establishes the dimensional framework (time periods, products, chains) for the token incentives metric
- **Logic**: Extracts the `timestamp`, `timestamp_grain`, `product_id`, and `chain_id` fields from the SyncSwap fees metric calculation. This ensures the token incentives metric covers the same time periods and product categories as other SyncSwap metrics, maintaining consistency in the reporting framework
- **Key fields**: Uses `timestamp` for daily aggregation boundaries, `product_id` for Classic pool vs Stable pool categorization, and `chain_id` for zkSync Era chain identification

### Component B: Zero value assignment  
- **Purpose**: Explicitly sets token incentive values to zero across all records
- **Logic**: Creates a constant value of 0 for the `token_incentives` field for every combination of timestamp, product, and chain. This reflects SyncSwap's business model where the protocol does not distribute token rewards to users for trading or liquidity provision activities
- **Key fields**: Generates the core `token_incentives` field with a hardcoded value of 0

### Final aggregation
- **Combining components**: The zero values are combined with the dimensional structure from the fees metric to create complete records for all time periods and products
- **Currency conversion**: No currency conversion is needed since all values are zero
- **Time aggregation**: Daily time boundaries are maintained consistent with other SyncSwap metrics, using UTC day boundaries for timestamp truncation
- **Final calculation**: The final metric value is simply 0 USD for all records, representing the absence of any token incentive programs on SyncSwap. Gap filling with zeros ensures no missing data points in the time series, and chain availability filters ensure data consistency across different reporting periods.

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

Value of native tokens distributed as incentives.

SyncSwap

Token incentives

Token incentives

Competitive landscape

Chain breakdown