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

Zyberswap is a non-custodial exchange protocol built on Arbitrum. Zyberswap was founded by anonymous team and launched in 2023.

ZYB tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue).

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Zyberswap

# Zyberswap Revenue Methodology

## 1. Overview

Zyberswap revenue represents the protocol's share of trading fees collected from decentralized exchange transactions on Arbitrum. The metric answers the business question: "How much revenue does Zyberswap generate from its trading fee collection?" The calculation multiplies daily trading volume by the protocol fee percentage that Zyberswap retains from each trade.

## 2. Data sources

The calculation relies on several raw data sources:

- **Blockchain events**: Parsed Arbitrum event logs including `Pair_Swap_event` from Zyberswap v2, `AlgebraPool_Swap_event` from Zyberswap v3, pool creation events (`SwapDeployer_NewSwapPool_event`, `Factory_PairCreated_event`, `AlgebraFactory_Pool_event`), and fee update events (`AlgebraPool_Fee_event`, `AlgebraPool_CommunityFee_event`)
- **Transaction data**: Arbitrum transaction records containing user addresses and transaction metadata
- **External data**: End-of-day token price feeds for USD conversion and token metadata containing decimals and symbols
- **Time filtering**: All data is filtered to include only transactions from January 23, 2023 onwards

## 3. Step-by-step calculation

### Component A: Trade data extraction
- **Purpose**: Extract individual swap transactions from both Zyberswap v2 and v3 protocols
- **Logic**: Parse `Pair_Swap_event` logs from v2 contracts and `AlgebraPool_Swap_event` logs from v3 contracts on Arbitrum. For v2, calculate token amounts as the difference between `amount_in` and `amount_out` fields. For v3, use direct `amount0` and `amount1` values. Join with Arbitrum transaction data to identify user addresses and filter for transactions since January 23, 2023.
- **Key fields**: Block timestamp, transaction hash, account address (pool/pair), user addresses, `token0_amount`, `token1_amount`

### Component B: Trading pair identification
- **Purpose**: Map pool/pair addresses to their constituent tokens and metadata
- **Logic**: Combine trading pair data from multiple pool creation events. For v2, extract pairs from `SwapDeployer_NewSwapPool_event` (supporting multi-token pool combinations) and `Factory_PairCreated_event`. For v3, use `AlgebraFactory_Pool_event`. Join with token metadata to get decimal places and symbols for each token, creating human-readable pair names.
- **Key fields**: Pool addresses, `token0_address`, `token1_address`, `token0_decimals`, `token1_decimals`, account names

### Component C: Fee tier determination
- **Purpose**: Apply appropriate trading fee percentages to each trade
- **Logic**: For v2 trades, use a hardcoded trading fee of 0.25%. For v3 trades, join with `AlgebraPool_Fee_event` logs to get dynamic fee tiers set per block per pool. The fee is expressed as a decimal (e.g., 0.0025 for 0.25%).
- **Key fields**: `fee_tier` values specific to each protocol version and trading pair

### Component D: Protocol fee calculation
- **Purpose**: Determine what percentage of trading fees Zyberswap retains as protocol revenue
- **Logic**: For v2, apply a fixed protocol fee of 0.10% of trading volume. For v3, parse `AlgebraPool_CommunityFee_event` logs to get dynamic protocol fee percentages. Take the maximum of `communityFee0New` and `communityFee1New`, convert from basis points by dividing by 1000, average by day and account, then multiply by the trading fee tier. Forward-fill missing protocol fee data to ensure complete coverage.
- **Key fields**: `protocol_fee_tier` calculated as trading fee × community fee percentage

### Component E: Volume calculation and USD conversion
- **Purpose**: Calculate daily trading volumes in USD terms for revenue computation
- **Logic**: Group trades by day, account, and trading pair. Correct token amounts for decimal places by dividing by 10^decimals for each token. Join with end-of-day token price feeds to convert amounts to USD. To prevent price manipulation attacks, take the minimum USD value between `token0_amount × token0_price` and `token1_amount × token1_price` as the final trading volume.
- **Key fields**: Daily aggregated `trading_volume` in USD terms

### Final aggregation
- **Combining components**: All components are joined on pool address, timestamp, and chain to create a complete trading record with associated fees and volumes
- **Currency conversion**: USD conversion happens at the individual trade level using end-of-day price feeds, with manipulation protection via minimum value selection
- **Time aggregation**: Data is aggregated to daily boundaries using timestamp truncation to day level
- **Final calculation**: Revenue equals `trading_volume` multiplied by `protocol_fee_tier`, representing the dollar amount Zyberswap collects from each day's trading activity. The result is processed through standard metric finalization procedures and filtered for chain availability.

*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.

ZyberswapZYB

Revenue

Revenue

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