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

Thruster is a non-custodial exchange protocol built on Blast. Thruster was launched in 2024.

Thruster team and investors own and govern the protocol. They currently take a cut of the total trading fees paid by traders, and earn native yield (revenue). Thruster's investors include Mirana Ventures, Manifold, OKX Ventures, etc.

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Exchanges (DEX)

Thruster

# Thruster Expenses Methodology

## 1. Overview

Thruster expenses represents the daily USD value of Thruster token incentives distributed to liquidity providers on the Blast blockchain. This metric captures the protocol's operational costs related to token-based reward programs by tracking transfers of the native Thruster token from the protocol's token admin address to recipient addresses. The calculation involves extracting specific token transfers, converting amounts to USD, and aggregating by day.

## 2. Data sources

- **Blockchain events**: Parsed `Transfer` events from the Blast blockchain, specifically tracking transfers of the Thruster token (`0xe36072dd051ce26261bf50cd966311cab62c596e`)
- **Token metadata**: Thruster token decimal precision information for accurate amount calculations
- **External data**: End-of-day token price feeds for USD conversion of Thruster token amounts

## 3. Step-by-step calculation

### Component A: Liquidity incentive extraction
- **Purpose**: Identifies and extracts Thruster token transfers that represent liquidity incentive distributions
- **Logic**: Filters Blast blockchain `Transfer` events to capture only transfers where the `from_address` matches the token admin address (`0x70a8075c73a9ff9616cb5af6bb09c04844718f27`) and the `token_address` matches the Thruster token contract (`0xe36072dd051ce26261bf50cd966311cab62c596e`). This filtering isolates official token incentive distributions from the protocol to liquidity providers.
- **Key fields**: `block_timestamp` for timing, `token_address` for token identification, `to_address` as recipient account, `value` as raw token amount

### Component B: Token incentive aggregation
- **Purpose**: Aggregates daily token incentive distributions and converts to USD
- **Logic**: Groups the filtered transfers by day using timestamp truncation and aggregates the token amounts. The chain is identified as Blast, market sector as exchanges, and business segment as DEX. Token amounts are processed through decimal correction based on the Thruster token's metadata and converted to USD using end-of-day price feeds.
- **Key fields**: `timestamp` truncated to day, `chain_id` as Blast, `token_incentives` as aggregated USD amount

### Final aggregation
- **Combining components**: The daily aggregated token incentive amounts are directly used as the expenses metric
- **Currency conversion**: Token amounts are converted to USD using end-of-day price feeds with proper decimal correction applied based on Thruster token metadata
- **Time aggregation**: Data is aggregated at daily boundaries using timestamp truncation, with missing days filled with zero values
- **Final calculation**: The `token_incentives` field is relabeled as `expenses` to represent the daily USD value of Thruster's token-based operational costs

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

Total project operating and incentive expenses.

ThrusterTHRUST

Archived

Expenses

Expenses

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