Unipilot removes the complexities and costs of providing concentrated liquidity, making liquidity more capital efficient. For projects, this optimization of liquidity enables lower-slippage trading.

Unipilot is a concentrated liquidity manager live on multiple chains and DEXs. Unipilot currently supports Uniswap V3 and QuickSwap V3 across six chains: Ethereum, Polygon, Polygon zkEVM, Arbitrum, BNB Chain and Dogechain. Unipilot is in the Xord.com ecosystem. This dashboard does not take into account Unipilot's transition into A51 Finance.


PILOT tokenholders own and govern the protocol. PILOT stakers earn a share of the total LP fees (revenue).

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Unipilot

# Unipilot Expenses Methodology

## 1. Overview

The Unipilot expenses metric measures the daily USD value of token incentives distributed by the Unipilot protocol to users. This represents the protocol's cost of incentivizing liquidity provision and farming activities. The metric calculates expenses by aggregating all reward claims from Unipilot farming contracts, converting token amounts to USD values, and summing them on a daily basis. This metric answers the business question: "How much does Unipilot spend daily on token incentives to attract and retain users?"

## 2. Data sources

The calculation relies on several key data sources:
- **Blockchain events**: Parsed `Reward` claim events from Unipilot farming contracts on Ethereum blockchain, specifically from the `UnipilotFarm` contract for version 1 of the protocol
- **Vault creation events**: `VaultCreated` events from Unipilot factory contracts (`UnipilotActiveFactory` and `UnipilotPassiveFactory`) across multiple chains including Ethereum, Polygon, Arbitrum, and BSC to establish vault metadata
- **Token metadata**: Token reference data including symbols, decimal places, and contract addresses for proper amount calculations and display
- **External data**: End-of-day token price feeds for USD conversion of reward token values

## 3. Step-by-step calculation

### Component A: Raw reward extraction
- **Purpose**: Extract individual reward claim transactions from Unipilot farming contracts
- **Logic**: The system identifies all `Reward` claim events from the Unipilot farming contract on Ethereum. Each event captures when a user claims farming rewards, including the vault address where rewards were earned, the reward amount in raw token units, and transaction metadata like block timestamp and transaction hash. The analysis focuses specifically on the Unipilot token (address `0x37c997b35c619c21323f3518b9357914e8b99525`) distributed as rewards on Ethereum for version 1 of the protocol.
- **Key fields**: `vault` address identifying the liquidity pool, raw `reward` amount in token units, `block_timestamp` for daily aggregation, and transaction identifiers for deduplication

### Component B: Vault metadata enrichment
- **Purpose**: Enhance reward data with human-readable vault information and token pair details
- **Logic**: The system joins reward events with vault metadata by matching vault addresses. Vault information comes from `VaultCreated` events emitted by Unipilot factory contracts across multiple blockchain networks. Each vault represents a specific token pair (like ETH-USDC), and the system creates readable vault titles by combining the symbols of the two underlying tokens. This enrichment allows for better categorization and analysis of rewards by specific liquidity pools.
- **Key fields**: `vault_title` combining token symbols (e.g., "ETH-USDC"), `token0_address` and `token1_address` for the underlying token pair, and `chain` information for cross-chain tracking

### Component C: USD conversion and aggregation  
- **Purpose**: Convert raw token amounts to standardized USD values and aggregate by day
- **Logic**: Raw reward amounts are processed through decimal correction to account for token precision (typically 18 decimals for ERC-20 tokens), then converted to USD using end-of-day price feeds. The system matches reward tokens with price data by token address and timestamp to ensure accurate valuation. Daily aggregation sums all USD-converted reward payments within each calendar day, creating a time series of total daily incentive costs.
- **Key fields**: `token_incentives` representing the USD value of daily rewards, `timestamp` truncated to daily boundaries, and standardized business classification fields like `business_line` (Asset_mgmt) and `market_sector_id` (asset_management)

### Final aggregation
- **Combining components**: The components flow sequentially where raw reward events are enriched with vault metadata, then converted to USD and aggregated daily
- **Currency conversion**: Token amounts are converted to USD using end-of-day price feeds matched by token address and date, with proper decimal place correction applied before conversion  
- **Time aggregation**: All reward claims within the same calendar day are summed together, with missing days filled with zero values to maintain a complete daily time series
- **Final calculation**: The metric renames the `token_incentives` field to `expenses` to reflect that these reward distributions represent costs to the protocol. Data is filtered to include only transactions before December 28, 2023, representing the project's archival date when active development or tracking ceased.

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

Total project operating and incentive expenses.

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Expenses

Expenses

Competitive landscape

Chain breakdown