Liquidity providers deposit funds into Wombat Exchange and receive WOM token rewards.

Wombat Exchange is a non-custodial exchange protocol built on BNB Chain. Wombat Exchange was founded by Alex Lee and launched in April 2022.

WOM tokenholders own and govern the protocol. They currently receive all trading fees paid by traders (revenue). Wombat Exchange’s investors include Binance Labs, Animoca Brands and Hailstone Ventures.

github

twitter

discord

etherscan

website

Exchanges (DEX)

Wombat Exchange

# Wombat Exchange Token incentives Methodology

## 1. Overview

Token incentives measures the total value of token rewards distributed by Wombat Exchange to liquidity providers on a daily basis. This metric tracks incentive payments made through Wombat's MasterWombat contracts, which distribute WOM tokens to users who provide liquidity to the protocol's pools. The calculation aggregates all Harvest events from these contracts across Arbitrum and BSC chains, converts the raw token amounts to USD values, and presents the data as daily totals.

## 2. Data sources

The calculation relies on several key data sources:

- **Blockchain events**: Parsed `Harvest` events from Wombat's MasterWombat and MasterWombatV3 contracts on Arbitrum and BSC networks
- **Transaction data**: Blockchain transaction metadata including timestamps, transaction hashes, and log indices for event identification
- **External data**: End-of-day token price feeds for WOM token pricing on both Arbitrum and BSC
- **Token metadata**: WOM token contract addresses and decimal specifications for each supported chain
- **Contract metadata**: Hardcoded mapping of MasterWombat contract addresses to human-readable names and version information

## 3. Step-by-step calculation

### Component A: Raw incentive event extraction
- **Purpose**: Extract all token incentive distribution events from Wombat's staking contracts
- **Logic**: The system processes `Harvest` events from three specific contract deployments: MasterWombatV3 on Arbitrum, MasterWombat on BSC (v2), and MasterWombatV3 on BSC (v3). Each event represents a token incentive payout to a liquidity provider. The events are filtered to include only those from the designated MasterWombat contract addresses and contain the recipient address, payout amount, and transaction metadata
- **Key fields**: Block timestamp for timing, transaction hash and log index for uniqueness, contract address (`address`), and raw token amount (`amount`)

### Component B: Account and metadata enrichment  
- **Purpose**: Add human-readable contract names and business categorization to the raw events
- **Logic**: The raw events are joined with a dimension table that maps contract addresses to descriptive names like 'Master Wombat' and 'Master Wombat V3'. Each event is also enriched with business classification data, categorizing all events under 'Exchange AMM' business line, 'exchanges' market sector, and 'dex' business segment. Version information (v2 or v3) is extracted from the source schema names
- **Key fields**: Contract name (`account_name`), business categorization fields, and version identifier

### Component C: Time-based aggregation and standardization
- **Purpose**: Group incentive events by day and prepare for currency conversion
- **Logic**: Events are aggregated by truncating timestamps to day boundaries using `timestamp_trunc`. Each day's events are grouped by chain, maintaining all dimensional attributes including contract name, account address, token address, and business categorization. The raw token amounts are preserved for subsequent processing
- **Key fields**: Daily timestamp (`timestamp`), chain identifier (`chain_id`), and aggregated token amounts (`token_incentives`)

### Final aggregation
- **Combining components**: All processed events are combined into a single dataset with standardized daily timestamps and preserved dimensional attributes
- **Currency conversion**: Raw token amounts are converted to USD using the `convert_to_usd_and_correct_decimals` macro, which applies proper decimal correction for WOM tokens and converts amounts using end-of-day price feeds for the respective chains
- **Time aggregation**: The system uses daily boundaries with a zero-filling strategy applied through the `finalize_metric_token_incentives` macro, ensuring continuous time series data even for days with no incentive distributions
- **Final calculation**: The final metric represents the total USD value of token incentives distributed each day across all Wombat MasterWombat contracts, with proper decimal normalization and currency conversion applied to the raw blockchain event data

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

Value of native tokens distributed as incentives.

Wombat ExchangeWOM

Token incentives

Token incentives

Competitive landscape

Chain breakdown