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.

twitter

discord

website

Exchanges (DEX)

Thruster

# Thruster Fees Methodology

## 1. Overview

Thruster fees represents the total fee revenue generated by the Thruster DEX protocol on Blast chain. The metric combines three distinct revenue streams: trading fees from AMM swaps, fees from flash loans, and native yield claims from Blast's yield-bearing infrastructure. This comprehensive approach captures all fee-generating activities within the Thruster ecosystem, providing a complete view of protocol revenue.

## 2. Data sources

The calculation utilizes several types of blockchain data and external feeds:

- **Trading events**: Parsed `Swap` events from both Thruster classic pools (v2-style) and CLAMM pools (v3-style) on Blast chain
- **Flash loan events**: Parsed `Flash` events from Thruster CLAMM pools capturing flash loan activity
- **Yield claim events**: Parsed `ClaimYieldAll` events from all Thruster pool types capturing Blast's native yield claims for WETH, USDB, and gas
- **Factory events**: Pool and pair creation events that define trading pair configurations and fee tiers
- **Transaction data**: Blast transaction records used to identify user addresses
- **Price feeds**: End-of-day token price feeds for USD conversion
- **Token metadata**: Token decimals and symbols for proper amount calculations

## 3. Step-by-step calculation

### Component A: Trading volume fees
- **Purpose**: Calculates fees generated from AMM trading activity across classic and CLAMM pools
- **Logic**: Extracts `Swap` events from both classic pools (`Pair03_Swap_event`, `Pair1_Swap_event`) and CLAMM pools (`Pool_Swap_event`). For classic pools, calculates net token changes using `amount0In - amount0Out` and `amount1In - amount1Out`. For CLAMM pools, uses direct `amount0` and `amount1` values. Joins with trading pair metadata to obtain fee tiers (0.3% for classic pairs, 1% for some pairs, and variable fees for CLAMM). Converts token amounts to USD using end-of-day price feeds and applies decimal corrections. Uses the minimum USD value between `token0_amount` and `token1_amount` to prevent price manipulation from affecting volume calculations. Multiplies the resulting trading volume by the `fee_tier` to calculate trading fees.
- **Key fields**: `token0_amount`, `token1_amount`, `fee_tier`, `trading_volume`

### Component B: Flash loan fees  
- **Purpose**: Calculates fees from flash loan activity in CLAMM pools
- **Logic**: Extracts `Pool_Flash_event` logs from CLAMM pools containing `amount0` and `amount1` borrowed. Converts token amounts from raw values using token decimals and applies USD conversion using end-of-day price feeds. Sums both token amounts in USD to get total `flash_loan_volume`. Multiplies flash loan volume by the same `fee_tier` structure used for trading to calculate flash loan fees.
- **Key fields**: `token0_amount`, `token1_amount`, `flash_loan_volume`, `fee_tier`

### Component C: Native yield claims
- **Purpose**: Captures revenue from Blast chain's native yield mechanism
- **Logic**: Extracts `ClaimYieldAll` events from all pool types (classic and CLAMM) for three specific tokens: WETH (`0x4300000000000000000000000000000000000004`), USDB (`0x4300000000000000000000000000000000000003`), and gas. Processes separate claim amounts (`amountWETH`, `amountUSDB`, `amountGas`) from each event. Converts all amounts to USD using token metadata for decimal correction and end-of-day price feeds. The full claim `amount` represents direct fee revenue without additional fee tier multiplication.
- **Key fields**: `amount`, `token_address` (WETH/USDB/gas addresses)

### Fee tier and protocol fee logic
- **Fee tier determination**: Classic pools use fixed fee tiers (0.3% or 1%) determined at pool creation. CLAMM pools use variable fee tiers specified in the pool creation event
- **Protocol fee handling**: Protocol fee tiers are determined by `SetYieldCut` events with a fee switch timestamp of April 10, 2024. Before this date, protocol fees default to 0. After this date, they default to 0.5 (50%) if no specific yield cut is set
- **Time boundary**: A fee switch was activated on 2024-04-10 04:58:19 UTC, affecting how protocol fees are calculated

### Final aggregation
- **Combining components**: Uses `UNION ALL` to combine trading fees, flash loan fees, and yield claims into a single dataset
- **Currency conversion**: All amounts are converted to USD using end-of-day price feeds matched by timestamp, token address, and chain
- **Time aggregation**: Groups all fee data by daily boundaries using `timestamp_trunc(block_timestamp, day)`
- **Final calculation**: Sums all fee amounts by `timestamp`, `chain_id`, `market_sector_id` ('exchanges'), `business_segment_id` ('dex'), and `product_id` (thrusterclassic, thrusterclamm, or nativeyield) to produce the final daily fee totals

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

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

ThrusterTHRUST

Archived

Fees

Fees

Competitive landscape