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 Token incentives Methodology

## 1. Overview

The Thruster token incentives metric measures the daily value of THRUST tokens distributed by the Thruster protocol as liquidity incentives to users on the Blast blockchain. This metric tracks the protocol's token-based rewards program by identifying transfers from the protocol's designated token admin address to user addresses, representing incentive payments for providing liquidity or participating in the protocol.

## 2. Data sources

The calculation relies on the following raw data sources:
- **Blockchain events**: Parsed `Transfer` events from the Blast blockchain, specifically tracking ERC-20 token transfers
- **Token metadata**: THRUST token contract information including decimal precision for accurate amount calculations
- **External data**: End-of-day price feeds for USD conversion of token amounts
- **Protocol addresses**: Hardcoded contract addresses for the THRUST token and the protocol's token admin address

## 3. Step-by-step calculation

### Component A: Liquidity incentive identification
- **Purpose**: Identifies THRUST token transfers that represent liquidity incentive distributions from the protocol to users
- **Logic**: Filters Blast blockchain `Transfer` events for transfers of the THRUST token (contract address `0xe36072dd051ce26261bf50cd966311cab62c596e`) where the sender is the designated token admin address (`0x70a8075c73a9ff9616cb5af6bb09c04844718f27`) and the recipient is any user address. This filtering logic captures all token distributions made by the protocol as incentive payments.
- **Key fields**: Extracts `block_timestamp` for timing, `token_address` for the THRUST token, `to_address` as the recipient account, and `value` as the raw token amount transferred

### Component B: Daily aggregation and metadata enrichment
- **Purpose**: Aggregates incentive distributions by day and adds standardized metadata dimensions
- **Logic**: Truncates block timestamps to daily boundaries using day-level time truncation. Adds standardized dimension values including chain identifier as 'blast', market sector as 'exchanges', business segment as 'dex', and leaves product identifier as null. The token address and aggregated amounts are preserved for downstream processing.
- **Key fields**: Creates `timestamp` field truncated to day boundaries, `chain_id` as 'blast', sector and segment classifications, and `token_incentives` as the daily aggregated token amounts

### Component C: Currency conversion and decimal adjustment
- **Purpose**: Converts token amounts to USD values and corrects for token decimal precision
- **Logic**: Applies decimal correction to raw token amounts using the THRUST token's decimal specification, then converts the corrected amounts to USD using end-of-day price feeds. This ensures accurate valuation of incentive distributions in standard currency units.
- **Key fields**: Produces USD-denominated values with proper decimal adjustment applied to token amounts

### Final aggregation
- **Combining components**: The processed data flows through standardized metric finalization which applies schema validation, ensures consistent dimension values, and implements gap-filling logic
- **Currency conversion**: Token amounts are converted to USD using end-of-day price feeds after decimal correction
- **Time aggregation**: Data is aggregated at daily boundaries with forward-filling strategy using zero values for days without incentive distributions
- **Final calculation**: The final metric value represents the total USD value of THRUST tokens distributed as liquidity incentives per day, calculated as the sum of all qualifying token transfers from the admin address to users, converted to USD and aggregated by day

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

Value of native tokens distributed as incentives.

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