Zerion shows an aggregated view of a wallet's total crypto holdings. Through Zerion’s interface users are able to swap, send and borrow crypto assets.

Zerion is a non-custodial DeFi aggregator built on Ethereum and other adjacent blockchains. Zerion was founded by Evgeny Yurtaev, Alexey Bashlykov and Vadim Koleoshkin and launched in 2016.

Zerion owns and governs the platform. They currently charge a swap fee on the transactions that they route (revenue). Zerion’s investors include Gnosis, Wintermute, Blockchain Ventures etc.

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Zerion

# Zerion Fees Methodology

## 1. Overview

This metric measures the total daily fees collected by the Zerion protocol across multiple blockchain networks. Zerion is a decentralized exchange aggregator that routes trades through various DEXs to find optimal prices. The fees represent protocol revenue collected from users for this routing service. The metric aggregates fee amounts from all completed trades, converts them to USD, and presents them as daily totals to track protocol revenue over time.

## 2. Data sources

The calculation relies on the following raw data sources:

- **Blockchain events**: Parsed `Router_Executed` events from Zerion v1 smart contracts deployed across seven blockchain networks (Arbitrum, Avalanche, BSC, Fantom, Gnosis, Optimism, and Polygon)
- **Token metadata**: Cross-chain token registry containing token symbols and contract addresses for proper token identification
- **External data**: End-of-day token price feeds for USD conversion of fee amounts denominated in various tokens
- **Transaction data**: Blockchain transaction records to validate event authenticity and filter out removed or invalid transactions

## 3. Step-by-step calculation

### Component A: Raw trade event extraction
- **Purpose**: Extract all completed trades executed through Zerion's routing contracts
- **Logic**: The system queries `Router_Executed` events from Zerion v1 contracts across seven supported chains. Each event represents a completed trade that was routed through the protocol. The extraction filters out any events marked as removed (failed transactions) and excludes a specific denylisted transaction hash. Key fields extracted include block timestamp, transaction details, input/output token addresses, trade amounts, and the critical `protocolFeeAmount` field
- **Key fields**: `block_timestamp` for timing, `inputToken` and `outputToken` for trading pair identification, `absoluteInputAmount` and `absoluteOutputAmount` for trade sizes, and `protocolFeeAmount` for the fee metric

### Component B: Native asset address mapping  
- **Purpose**: Standardize native blockchain asset representation across different chains
- **Logic**: Zerion uses a special address `0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee` to represent native blockchain assets (like ETH, AVAX, BNB) across all chains. This component maps these exception addresses to the actual native token addresses specific to each blockchain. For example, on Arbitrum it maps to wrapped ETH, on Avalanche to wrapped AVAX, on BSC to wrapped BNB, etc. This ensures proper token identification for downstream processing
- **Key fields**: `real_token_0_address` and `real_token_1_address` for standardized token identification, and chain-specific native token addresses for proper mapping

### Component C: Trading pair metadata creation
- **Purpose**: Generate human-readable trading pair names and validate token information
- **Logic**: This component joins the standardized trade data with the cross-chain token registry to retrieve token symbols. It creates trading pair names by concatenating token symbols (e.g., "ETH-USDC"). The process handles cases where token information might be missing from the registry and ensures each unique trading pair across all chains has proper metadata for identification and reporting
- **Key fields**: `token_0_symbol` and `token_1_symbol` from token registry, and computed `account_name` field combining both symbols

### Component D: Trade and metadata integration
- **Purpose**: Combine raw trade data with enriched trading pair information
- **Logic**: This step performs an inner join between the extracted trade events and the trading pair metadata. It ensures that only trades with valid, identifiable trading pairs proceed to fee calculation. The join is performed on chain and both token addresses to maintain data integrity. This integration step prepares the complete dataset needed for fee aggregation
- **Key fields**: All trade fields combined with `account_name` for trading pair identification

### Final aggregation
- **Combining components**: The final calculation takes the integrated trade data and focuses specifically on the `fee_amount` field (which contains the `protocolFeeAmount` from the original events). It uses `token_1_address` (the output token of each trade) as the denomination for the fee amount
- **Currency conversion**: Fee amounts are converted to USD using end-of-day price feeds matched to the fee token (`token_1_address`). The conversion process also corrects for token decimal places to ensure accurate USD values regardless of the token's decimal configuration
- **Time aggregation**: Block timestamps are truncated to day boundaries to create daily fee totals. The system aggregates all fees collected within each 24-hour period across all supported chains
- **Final calculation**: The metric sums all fee amounts (in USD) for each day, applying a fill-zeros strategy to ensure no gaps in the daily time series. The result represents the total daily revenue collected by the Zerion protocol from all trading activity across all supported blockchain networks

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

Total value users pay to use a protocol (gross fees, user-paid fees).

Zerion

Fees

Fees

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