# Stable Pools Total value locked Methodology

## 1. Overview

Total value locked (TVL) for Aerodrome Stable Pools is calculated as the total USD value of assets deposited as liquidity within the protocol's Stable Pools automated market maker (AMM) pools. This metric is used as a key indicator of the liquidity available for low-slippage trades of pegged assets. Only pools classified as Stable Pools (sAMM) are included in this product scope, while Volatile Pools and concentrated liquidity pools are excluded.

## 2. Data sources

- **Blockchain events**: `PoolCreated` events from `Factory` contracts and `Sync` events from `Pool` contracts, covering Base
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Pool classification and metadata retrieval

- **Purpose**: To identify Stable Pools and retrieve asset decimals.
- **Logic**: `PoolCreated` events from `Factory` contracts are parsed to identify trading pairs, their associated assets, and the pool type. Pools are classified as Stable Pools if the Stable Pools flag is true. Asset decimals are retrieved from asset metadata to enable normalization.
- **Key fields**: `pool` (pool address), `token0` (first asset address), `token1` (second asset address), `Stable Pools` (Stable Pools pool flag)

### Component B: Reserve tracking and daily delta calculation

- **Purpose**: To track the daily changes in asset reserves for each Stable Pools Pool.
- **Logic**: `Sync` events from `Pool` contracts are parsed to extract the reserve amounts for both assets in the pool. The last reserve values for each day are aggregated. Daily reserve deltas are calculated by subtracting the previous day's reserves from the current day's reserves, defaulting to the current day's reserves if no prior data exists. Raw reserve amounts are normalized by decimal precision.
- **Key fields**: `reserve0` (first asset reserve), `reserve1` (second asset reserve), `timestamp` (block timestamp)

### Component C: Denylist filtering and USD conversion

- **Purpose**: To exclude outlier pools and convert asset balances to USD.
- **Logic**: Pools matching the denylist (such as the pool containing `superOETHb`) are excluded. Daily reserve deltas are aggregated cumulatively per pool and asset, with a floor of zero applied to prevent negative balances. The cumulative asset balances are multiplied by end-of-day price feeds to determine the USD value. Values are carried forward for days without activity, and the final TVL is aggregated.
- **Key fields**: `pool_address` (pool address), `token_address` (asset address), `delta_tvl` (change in TVL), `price_usd` (asset price in USD)

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

Total value locked (TVL)

Total value locked (TVL) — value deposited into the project's applications.

Total value locked

Exchanges (DEX)

Liquidity providers deposit funds into Aerodrome and stake their LP tokens to receive AERO tokens in proportion to their share of the votes (token incentives).

Aerodrome is a non-custodial exchange protocol built on Base. Aerodrome was launched by the Velodrome team in 2023.

AERO tokenholders own and govern the protocol. They vote which pools they wish to earn trading fees from (revenue), while the pools' unstaked liquidity providers earn the remainder of the trading fees (supply-side fees).

Stable Pools

Total value locked

Total value locked

Chain breakdown