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Derivative exchanges

ApeX Protocol

# ApeX Protocol Bridge deposits Methodology

## 1. Overview

Bridge deposits represents the total USD value of tokens held in Apex protocol's designated bridge addresses on Ethereum. This metric measures the aggregate value of assets deposited into Apex's bridging infrastructure, providing insight into the total value locked in the protocol's cross-chain bridging functionality. The calculation monitors two specific Ethereum addresses and sums the USD value of all tokens held across these addresses.

## 2. Data sources

- **Ethereum blockchain events**: Parsed `Transfer` events from ERC-20 token contracts to track token movements into and out of bridge addresses
- **Token metadata**: Token contract information including decimal places and symbols for proper balance calculations
- **End-of-day price feeds**: Token price data for USD conversion of bridge deposits
- **Chain availability data**: Information about which chains are operational and should be included in calculations
- **Address configuration**: Hardcoded list of Apex bridge addresses to monitor for deposits

## 3. Step-by-step calculation

### Component A: Portfolio balance tracking
- **Purpose**: Calculate current token balances held at specified bridge addresses
- **Logic**: The system monitors two specific Ethereum addresses (the bridge addresses) and tracks all token movements. For each address, it processes parsed `Transfer` events to identify when tokens are sent to or from the address. It calculates net balances by tracking inflows (when tokens are transferred to the bridge address) and outflows (when tokens are transferred from the bridge address). The calculation handles multiple token types and applies proper decimal adjustments based on each token's metadata to ensure accurate balance calculations.
- **Key fields**: Bridge addresses (`0xa1d5443f2fb80a5a55ac804c948b45ce4c52dcbb` and `0xe53a6ed882eb3f90cce0390ddb04c876c5482e6b`), token contract addresses, `balance` amounts adjusted for token decimals, `timestamp` for daily snapshots

### Component B: Business data aggregation
- **Purpose**: Aggregate balances across all tokens and addresses with business context
- **Logic**: The system sums all token balances across both bridge addresses for each day. It groups the data by timestamp to create daily snapshots and applies business categorization by assigning the metric to the L2 blockchains market sector and blockchain business segment. The aggregation ensures that the final metric represents the total value held across all tokens in both bridge addresses on each day.
- **Key fields**: Daily `timestamp`, `chain_id` (Ethereum), `balance` sums, market sector classification (`blockchains_l2`), business segment (`blockchain`)

### Final aggregation
- **Combining components**: The system sums all token balances across both monitored bridge addresses to create a single aggregate value representing total bridge deposits
- **Currency conversion**: Token balances are converted to USD using end-of-day price feeds, with conversions applied after proper decimal adjustments for each token type
- **Time aggregation**: Daily snapshots are created based on timestamp boundaries, with a forward-fill strategy applied to handle missing data points by carrying forward the last known value
- **Final calculation**: The final bridge deposits metric equals the sum of USD-converted balances for all tokens held across both specified bridge addresses, filtered to include only data from operationally available chains

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

Value of assets held in a project's bridge contracts.

ApeX ProtocolAPEX

Bridge deposits

Bridge deposits

Competitive landscape

Chain breakdown