# Thena Integral Token incentives Methodology

## 1. Overview

Token incentives measures the value of native THE assets distributed to liquidity providers and other stakeholders within the Thena Integral ecosystem. These incentives are primarily used to bootstrap liquidity and reward participants for providing capital to the protocol's concentrated liquidity pools. The metric is analogous to stock-based compensation and represents a key expense for the protocol in its effort to maintain and grow market depth.

## 2. Data sources

- **Blockchain events**: `Harvest` events from `GaugeV2` contracts, plus `Pool`, `CustomPool`, `GaugeCreated`, and `CreateGauge` events from `AlgebraFactoryV2`, `VoterV3`, and `GaugeFactoryV2` contracts, covering BNB Chain
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Liquidity incentive account mapping

- **Purpose**: Maps incentive-emitting gauge contracts to their corresponding Thena Integral liquidity pools
- **Logic**: Gauge addresses are identified by parsing `GaugeCreated` events from `VoterV3` contracts and `CreateGauge` events from `GaugeFactoryV2` contracts. These addresses are linked to specific exchange accounts identified through `Pool` and `CustomPool` events emitted by `AlgebraFactoryV2` contracts. This mapping ensures that incentive distributions are accurately attributed to the Thena Integral product.
- **Key fields**: `incentive_account_address` (gauge), `exchange_account_address` (pool), `token0_address`, `token1_address`

### Component B: Incentive distribution tracking

- **Purpose**: Captures the quantity of native assets distributed as rewards from Thena Integral gauges
- **Logic**: `Harvest` events are parsed from `GaugeV2` contracts. The reward quantity is extracted from the `reward` field for every successful transaction. These distributions are filtered to include only those associated with the previously identified Thena Integral gauge addresses.
- **Key fields**: `block_timestamp`, `transaction_hash`, `reward` (amount), `address` (gauge contract)

### Component C: USD conversion and aggregation

- **Purpose**: Normalizes incentive amounts to USD for standardized reporting
- **Logic**: Raw reward amounts are normalized by the asset's decimal precision. These quantities are multiplied by the end-of-day price feeds for the native THE asset. The resulting USD values are aggregated by day using UTC boundaries. A zero-filling strategy is applied to ensure a continuous time series for the metric.

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

Value of native tokens distributed as incentives.

Token incentives

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 Integral

Archived

Token incentives

Token incentives

Chain breakdown