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Blockchains (L1)

Aleo

# Aleo Circulating supply Methodology

## 1. Overview

The Aleo circulating token supply metric tracks the number of Aleo tokens that are publicly available and actively circulating in the market on a daily basis. This metric excludes tokens that are locked, staked, held in treasury, or otherwise restricted from trading. The calculation relies on CoinGecko's circulating supply data, which aggregates information from multiple sources to provide a comprehensive view of token availability. This metric answers the business question: "How many Aleo tokens are available for trading and general market activity each day?"

## 2. Data sources

The calculation uses the following data sources:
- **CoinGecko API data**: Daily circulating supply snapshots for the Aleo token, sourced from CoinGecko's comprehensive token tracking system
- **Token metadata**: Aleo token configuration data including symbol, decimals, and identification parameters
- **Historical snapshots**: Time-series data to ensure consistent daily reporting and gap-filling capabilities

## 3. Step-by-step calculation

### Component A: CoinGecko data retrieval
- **Purpose**: Extracts daily circulating supply values for the Aleo token from CoinGecko's API
- **Logic**: The system queries CoinGecko's database for Aleo token circulating supply data, which represents tokens that are not locked, staked, or held in protocol treasury. CoinGecko calculates this by taking the total token supply and subtracting various categories of restricted tokens based on their token economics research
- **Key fields**: The primary field is `circulating_supply` representing the number of tokens available for trading, along with `date` for time-series tracking

### Component B: Data standardization and validation
- **Purpose**: Applies consistent formatting and handles missing data points in the time series
- **Logic**: The finalization process validates the retrieved data, applies standard schema formatting, and implements a zero-fill strategy for any missing dates in the time series. This ensures continuous daily reporting without gaps and maintains data quality standards
- **Key fields**: Standardized fields include `date` (daily timestamp), `value` (circulating supply amount), and metadata fields for tracking and validation

### Final aggregation
- **Combining components**: The CoinGecko data flows directly through the standardization pipeline without additional mathematical aggregation, as circulating supply is reported as a single daily value
- **Currency conversion**: No currency conversion is needed as this metric represents token quantity, not monetary value
- **Time aggregation**: Data is reported on a daily basis with each day representing a snapshot of circulating supply at end-of-day
- **Final calculation**: The final metric value is the standardized circulating supply amount from CoinGecko, expressed as the total number of Aleo tokens available for trading on each given date

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

Number of tokens currently available for trading on the open market.

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Circulating supply

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