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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Infrastructure

Zerion

# Zerion Token incentives Methodology

## 1. Overview

Token incentives represent the USD value of rewards or incentives distributed to users by a protocol to encourage participation, trading, or liquidity provision. For Zerion, this metric is currently set to zero as the protocol does not operate token incentive programs. However, the infrastructure leverages the same dimensional structure as the fees metric to maintain consistency and enable future incentive tracking if Zerion implements such programs.

## 2. Data sources

The metric inherits its dimensional structure from the fees calculation pipeline, which uses:
- **Blockchain events**: Zerion V1 `Router_Executed` events from Arbitrum, Avalanche, BSC, Fantom, Gnosis, Optimism, and Polygon blockchains containing swap transaction details
- **Token metadata**: Token symbol and decimal information for trading pair identification
- **External data**: End-of-day token price feeds for potential USD conversion (though not used since incentives are zero)
- **Transaction data**: Blockchain transaction records including timestamps, addresses, and amounts from router contract interactions

## 3. Step-by-step calculation

### Component A: Zerion trading data extraction
- **Purpose**: Establishes the dimensional framework by processing Zerion's trading activity across supported chains
- **Logic**: Extracts `Router_Executed` events from Zerion V1 contracts across seven blockchains. Each event represents a swap transaction with input/output tokens, amounts, and protocol fees. Events are filtered to exclude removed transactions and one specific denylisted transaction. Native assets (ETH, AVAX, BNB, etc.) are handled through a special exception address that gets mapped to each chain's native token symbol.
- **Key fields**: `block_timestamp` for daily aggregation, `chain` for blockchain identification, `inputToken` and `outputToken` for trading pairs, `absoluteInputAmount` and `absoluteOutputAmount` for swap volumes, `protocolFeeAmount` for fee calculation

### Component B: Trading pair dimension creation
- **Purpose**: Creates standardized trading pair identifiers by combining token symbols
- **Logic**: Joins trading events with token metadata to resolve token addresses to symbols. Handles the special exception address by mapping it to each chain's native asset symbol (ETH for Arbitrum/Optimism, AVAX for Avalanche, etc.). Creates account names by concatenating token symbols in token0-token1 format.
- **Key fields**: `real_token_0_address` and `real_token_1_address` for actual token addresses, `token_0_symbol` and `token_1_symbol` for display names, `account_name` as the concatenated trading pair identifier

### Component C: Fee calculation and USD conversion
- **Purpose**: Calculates trading fees in USD to establish the dimensional baseline
- **Logic**: Processes fee amounts from router events, applies decimal corrections based on token metadata, and converts to USD using end-of-day price feeds. Aggregates fees daily by chain and token address. Applies the finalize metric process to ensure proper schema validation and gap filling.
- **Key fields**: `fee_amount` as the raw protocol fee, `timestamp` truncated to daily boundaries, `token_address` for the fee token, converted USD values after decimal correction and price conversion

### Component D: Token incentives assignment
- **Purpose**: Creates the token incentives metric by setting all values to zero while maintaining dimensional consistency
- **Logic**: Selects the dimensional fields (`timestamp`, `timestamp_grain`, `product_id`, `chain_id`) from the fees metric and assigns zero to the `token_incentives` field for all records. This creates a complete time series with the same structure as fees but with zero incentive values.
- **Key fields**: `timestamp` for daily time boundaries, `chain_id` for blockchain identification, `product_id` for protocol identification, `token_incentives` set to 0

### Final aggregation
- **Combining components**: The metric inherits the complete dimensional structure from the fees calculation without requiring additional joins or aggregations since incentives are uniformly zero
- **Currency conversion**: No currency conversion is applied since all incentive values are zero, though the infrastructure supports USD conversion if future incentives are implemented
- **Time aggregation**: Daily aggregation boundaries are maintained from the underlying fees metric, with timestamp truncation to day level
- **Final calculation**: The metric value is consistently zero across all time periods and chains, representing the absence of token incentive programs while maintaining the proper schema for future implementation

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

Value of native tokens distributed as incentives.

Zerion

Token incentives

Token incentives

Competitive landscape

Chain breakdown