# Thena Fusion Fees Methodology

## 1. Overview

Fees measures the total value paid by users when executing swaps on Thena Fusion. These fees are generated by trading activity within the protocol's concentrated liquidity pools. The metric serves as an indicator of the total economic value generated by the Thena Fusion product before any distribution to liquidity providers or the protocol treasury.

## 2. Data sources

- **Blockchain events**: `Swap`, `Fee`, and `CommunityFee` events from `AlgebraPool` contracts, and `Pool` events from `AlgebraFactory` contracts, covering BNB Chain and opBNB
- **External data**: End-of-day price feeds for traded assets

## 3. Step-by-step calculation

### Component A: Trading volume tracking

- **Purpose**: Calculate the total volume of asset swaps within Thena Fusion concentrated liquidity pools.
- **Logic**: `Swap` events are parsed from `AlgebraPool` contracts to extract the quantities of assets exchanged. The identity of the traded assets and their respective decimal precisions are determined by referencing pool metadata generated from `Pool` events in `AlgebraFactory` contracts. Trading volume is calculated for each swap by multiplying the asset amounts by their respective end-of-day prices. To mitigate the impact of potential price manipulation or outliers, the lower USD value of the two swapped assets is used to determine the trading volume for each transaction.
- **Key fields**: `token0_amount`, `token1_amount`, `account_address`

### Component B: Fee tier extraction

- **Purpose**: Determine the specific fee percentage applied to swaps for each liquidity pool.
- **Logic**: `Fee` and `CommunityFee` events are parsed from `AlgebraPool` contracts to capture the current trading fee percentages. Fee tiers are normalized by decimal precision (divided by 1,000,000) to convert them into standard decimal rates. These rates are tracked per pool and applied to trades occurring within the same block or relevant time interval.
- **Key fields**: `fee_tier`, `protocol_fee_tier`, `block_number`

### Component C: Fee calculation and USD conversion

- **Purpose**: Combine volume and fee rate data to generate the final daily fee metric in USD.
- **Logic**: Total fees are calculated by multiplying the identified trading volume for each pool by its corresponding fee tier. Asset amounts are normalized by decimal precision. All values are converted to USD using end-of-day price feeds for the respective assets. The final metric is aggregated by day using UTC boundaries and includes all relevant chains for Thena Fusion.
- **Key fields**: `trading_volume`, `fee_tier`, `price_usd`

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

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

Fees

Exchanges (DEX)

Liquidity providers deposit funds into Thena and stake their LP tokens to receive THE tokens (token incentives).

Thena is a non-custodial exchange protocol built on BNB Chain. Thena was founded by an anonymous team and launched in 2023.

THE tokenholders own and govern the protocol. They vote for pools where they wish to receive trading fees and external bribes from, while pools receive THE emissions in respect to their share of votes.

Thena Fusion

Archived

Fees

Fees

Chain breakdown