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Infrastructure

Trojan

# Trojan Revenue Methodology

## 1. Overview

Trojan revenue measures the total fees collected by the Trojan protocol on Solana, expressed in USD. The metric captures native SOL transfers sent to Trojan's designated fee collection address, representing user payments for protocol services. Revenue is calculated by aggregating all fee payments daily and converting the SOL amounts to USD using end-of-day price feeds.

## 2. Data sources

- **Solana native transfers**: Native SOL transfer events on the Solana blockchain, specifically transfers directed to Trojan's fee collection addresses
- **End-of-day price feeds**: Daily SOL/USD price data for currency conversion
- **Token metadata**: SOL token information for proper decimal handling and identification

## 3. Step-by-step calculation

### Component A: Fee collection tracking
- **Purpose**: Identifies all SOL payments made to Trojan's fee collection infrastructure
- **Logic**: Extracts native SOL transfers from Solana blockchain data, filtering specifically for transfers where the recipient address is `9yMwSPk9mrXSN7yDHUuZurAh1sjbJsfpUqjZ7SvVtdco` (Trojan's designated fee collection address). Each transfer captures the transaction timestamp, sender address, and transfer amount in lamports (Solana's smallest unit)
- **Key fields**: `block_timestamp` for timing, `transaction_signer` for the fee payer, `amount` in lamports, and `to_address` for validation

### Component B: Amount normalization and aggregation  
- **Purpose**: Converts raw transfer amounts to SOL denomination and aggregates by day
- **Logic**: Converts transfer amounts from lamports to SOL by dividing by 1 billion (1e9), as there are 1 billion lamports per SOL. Groups all fee payments by day using timestamp truncation to daily boundaries, then sums all SOL amounts collected on each day across all transactions
- **Key fields**: Daily `timestamp` boundaries, aggregated `fees` amounts in SOL denomination

### Component C: USD conversion
- **Purpose**: Converts daily SOL fee amounts to USD values for standardized reporting  
- **Logic**: Takes the daily aggregated SOL fee amounts and converts them to USD using end-of-day SOL price feeds. The conversion uses the closing price for each day to ensure consistent valuation methodology across time periods
- **Key fields**: `fees` amounts converted to USD denomination using daily price data

### Final aggregation
- **Combining components**: The three components flow sequentially - fee collection data feeds into amount normalization, which feeds into USD conversion
- **Currency conversion**: Uses end-of-day SOL/USD exchange rates applied to daily aggregated amounts
- **Time aggregation**: Daily boundaries are established by truncating transaction timestamps to day level, with all fees within each 24-hour period summed together
- **Final calculation**: Revenue equals the sum of all SOL transfers to Trojan's fee address on each day, converted from lamports to SOL (divided by 1e9), then converted to USD using daily closing prices. The revenue metric is semantically identical to the fees metric but labeled as revenue for business reporting purposes.

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

fees * take_rate (illustrative — revenue is observed directly per project, not derived from take_rate)

Fee revenue retained after supply-side payouts. Before cost of revenue (e.g. L2 DA fees) and before operating expenses.

Trojan

Revenue

Revenue

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