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

Voltz Protocol is a non-custodial Automated Market Maker (AMM) for Interest Rate Swaps deployed on Ethereum.

Voltz DAO owns and governs the protocol. They do not currently take a cut of the total trading fees paid by traders (revenue). Voltz’s investors include Framework, Fabric Ventrues etc.

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Derivative exchanges

Voltz

# Voltz Revenue Methodology

## 1. Overview

Voltz revenue represents the revenue generated by the Voltz protocol from its interest rate swap operations. However, in Token Terminal's methodology, Voltz revenue is explicitly set to zero. This means that while the protocol generates fees from trading and liquidation activities, these fees are not classified as protocol revenue. The calculation maintains the standard revenue metric structure by referencing the underlying fees data but hardcodes the revenue value to 0 across all time periods and chains.

## 2. Data sources

The methodology uses the following data sources:
- **Voltz protocol events**: Parsed events from Voltz V1 smart contracts on Ethereum and Arbitrum, including swap operations and position liquidations
- **Trading events**: `Swap`, `Vamm_Swap`, and `FullyCollateralisedSwap` events that capture interest rate swap position opens and closes
- **Liquidation events**: `PositionLiquidation` events from the Voltz margin engine when positions are liquidated
- **Pool creation events**: `IrsInstance` events from the Voltz factory contract providing token metadata and decimal precision
- **Token metadata**: Registry of token information including addresses, symbols, and decimal places for proper amount calculations
- **End-of-day price feeds**: Token price data for USD conversion of fee amounts

## 3. Step-by-step calculation

### Component A: Trading fees collection
- **Purpose**: Extract trading fees from Voltz interest rate swap operations across Ethereum and Arbitrum
- **Logic**: Query parsed Voltz swap events including `vamm_Swap_event`, `Vamm_Swap_event`, and `Fcm_FullyCollateralisedSwap_event`. Join with `Factory_IrsInstance_event` to obtain underlying token addresses and decimal precision. Extract the `cumulativeFeeIncurred` amount from each swap event and normalize by dividing by 10 raised to the token's decimal places. Include transaction metadata like block timestamp, transaction hash, and account addresses.
- **Key fields**: `cumulativeFeeIncurred` for fee amounts, `underlyingToken` for token address, `underlyingTokenDecimals` for normalization, `block_timestamp` for timing

### Component B: Liquidation fees collection  
- **Purpose**: Extract liquidation rewards from liquidated interest rate swap positions
- **Logic**: Query `MarginEngine_PositionLiquidation_event` from both Ethereum and Arbitrum. Join with `Factory_IrsInstance_event` to get token metadata by matching the margin engine address with pool creation events. Extract the `liquidatorReward` field representing fees paid to liquidators and normalize using token decimal precision. Include the same transaction and account metadata as trading fees.
- **Key fields**: `liquidatorReward` for liquidation fee amounts, `underlyingToken` for token identification, `underlyingTokenDecimals` for amount normalization

### Component C: Fee aggregation and USD conversion
- **Purpose**: Combine all fee types and convert to standardized daily USD amounts
- **Logic**: Union the trading fees and liquidation fees data, ensuring both datasets include chain identifier, market sector, business segment, and product categorization. Truncate timestamps to daily boundaries for aggregation. Join with token metadata registry to validate token information. Apply USD conversion using end-of-day token prices, converting the normalized token amounts to USD values based on the date of each transaction.
- **Key fields**: Daily `timestamp`, `chain_id` for blockchain identification, `token_address` for price lookup, converted `fees` amounts in USD

### Final aggregation
- **Combining components**: The fees data provides the foundation, but revenue calculation diverges by hardcoding revenue as 0
- **Currency conversion**: While fees are converted to USD using end-of-day exchange rates, revenue remains 0 regardless of USD amounts
- **Time aggregation**: Daily aggregation boundaries maintained through timestamp truncation to day level
- **Final calculation**: Revenue is explicitly set to 0 for all records, creating a complete time series with zero values while maintaining the same dimensional structure as the underlying fees (chain, timestamp, product classifications)

*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.

Voltz

Revenue

Revenue

Competitive landscape

Chain breakdown