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

SynFutures is a non-custodial decentralized exchange for perpetual contracts built on Base and multiple EVM-based chains. SynFutures was founded by Rachel Lin and was launched in 2021. 

SynFutures’ team & investors own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). SynFutures’ investors include Polychain Capital, Framework Ventures, Pantera Capital, etc.

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SynFutures

# SynFutures Expenses Methodology

## 1. Overview

The SynFutures expenses metric tracks token-based incentive costs paid by the protocol to users or liquidity providers. Currently, SynFutures does not operate any token incentive programs, so this metric consistently returns 0 across all time periods. The metric maintains the same temporal and dimensional structure as other SynFutures metrics to ensure consistency and enable future token incentive tracking if such programs are introduced.

## 2. Data sources

The expenses calculation uses the following data sources to establish its dimensional structure:

- **Trading fee data**: SynFutures fee and revenue calculations across all protocol versions
- **Protocol structure**: Chain identifiers, product classifications, and temporal boundaries from the trading infrastructure
- **Chain availability data**: Active chain configuration to determine which networks to include

The calculation does not currently require any external token incentive data sources, as no incentive programs are active.

## 3. Step-by-step calculation

### Component A: Token incentives template structure
- **Purpose**: Establish consistent temporal and dimensional structure for potential token incentives
- **Logic**: Uses existing fees metric data to create a template with daily timestamps, chain identifiers, and product classifications across all supported SynFutures versions and chains
- **Key fields**: Extracts `timestamp`, `timestamp_grain` (daily), `product_id`, and `chain_id` from the fees data structure

### Component B: Zero incentives assignment
- **Purpose**: Set all token incentive values to zero since no programs are currently active
- **Logic**: Assigns a constant value of 0 to the `token_incentives` field for every record in the template structure
- **Key fields**: Creates `token_incentives` field with value 0 across all time periods and chains

### Component C: Expense mapping
- **Purpose**: Convert token incentives into protocol expenses
- **Logic**: Directly maps the `token_incentives` value to the `expenses` field, maintaining the 1:1 relationship between token incentives paid and protocol expenses incurred
- **Key fields**: Creates `expenses` field that equals `token_incentives` (currently 0)

### Final aggregation
- **Combining components**: No aggregation needed as expenses are directly mapped from token incentives
- **Currency conversion**: Not applicable as all values are 0
- **Time aggregation**: Daily level aggregation maintained from template structure
- **Final calculation**: Expenses equal token incentives paid by the protocol (currently 0 for all periods)

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

Total project operating and incentive expenses.

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Expenses

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