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 Revenue Methodology

## 1. Overview

Zerion revenue represents the total USD value of protocol fees collected by Zerion from trading activity on their decentralized exchange infrastructure. Zerion operates as a trading router across multiple blockchains and captures 100% of the protocol fees as revenue. The metric aggregates daily trading fees from all supported chains and converts them to USD using end-of-day price feeds.

## 2. Data sources

- **Blockchain event logs**: Parsed `Router_Executed_event` logs from Zerion v1 router contracts deployed on Arbitrum, Avalanche, BSC, Fantom, Gnosis, Optimism, and Polygon
- **End-of-day price feeds**: Token price data for USD conversion of fee amounts
- **Token metadata**: Symbol and decimal place information for proper token amount calculations
- **Native asset configuration**: Mapping of blockchain networks to their native tokens (ETH, BNB, MATIC, AVAX, FTM, xDAI)

## 3. Step-by-step calculation

### Component A: Trade event extraction
- **Purpose**: Captures all trading activity and associated protocol fees from Zerion's router contracts
- **Logic**: Extracts `Router_Executed_event` logs from Zerion v1 contracts across seven supported blockchains. Each event contains input token, output token, trade amounts, and the `protocolFeeAmount` that Zerion charges. Events are filtered to exclude removed transactions and a specific denylisted transaction hash. The system handles a special case where the address `0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee` represents native tokens and gets mapped to the appropriate native asset for each chain (ETH for Arbitrum/Optimism, BNB for BSC, MATIC for Polygon, etc.)
- **Key fields**: `block_timestamp` for timing, `transaction_hash` and `log_index` for uniqueness, `inputToken` and `outputToken` for the trading pair, `absoluteInputAmount` and `absoluteOutputAmount` for trade sizes, `protocolFeeAmount` for the fee collected

### Component B: Trading pair resolution
- **Purpose**: Creates human-readable trading pair identifiers for reporting and categorization
- **Logic**: Joins trade data with token metadata to resolve token symbols. For each unique combination of input and output tokens on each chain, creates an account name by concatenating the token symbols (e.g., "ETH-USDC"). Handles the special native token address by substituting the appropriate native token symbol based on the blockchain network
- **Key fields**: `real_token_0_address` and `real_token_1_address` for the actual token contracts, `token_0_symbol` and `token_1_symbol` for display names, `account_name` as the combined trading pair identifier

### Component C: Fee aggregation and conversion
- **Purpose**: Aggregates protocol fees daily and converts them to USD values
- **Logic**: Groups all trades by day (using `timestamp_trunc` to daily boundaries), chain, and the output token used for fee payment. Sums the `protocolFeeAmount` for each group. Applies decimal correction based on each token's decimal places, then converts to USD using end-of-day price feeds. The fee is always denominated in the output token of the trade (`token_1_address`)
- **Key fields**: `timestamp` as the daily boundary, `chain_id` for blockchain identification, `token_address` for the fee token, `fees` as the aggregated USD amount

### Final aggregation
- **Combining components**: Since Zerion captures 100% of protocol fees as revenue, the revenue metric directly passes through all fee amounts from the fees calculation without additional transformation
- **Currency conversion**: All fees are converted to USD using end-of-day price feeds, with proper decimal adjustment based on each token's specification
- **Time aggregation**: Data is aggregated to daily boundaries using day-truncated timestamps, ensuring consistent daily reporting
- **Final calculation**: Revenue equals the sum of all protocol fees collected daily across all supported chains, converted to USD. Gap-filling ensures continuous daily time series by inserting zero values for days without trading activity

*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.

Zerion

Revenue

Revenue

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