Investors deposit funds into the funds managed by Apollo, and Apollo charges management fees. We currently track the Apollo Diversified Credit Securitize Fund (ACRED), launched in 2025.

Apollo is one of the world's most prominent asset management firms, with $750 billion in assets under management. It was founded in 1990. Note that the data shown for Apollo covers only its tokenized onchain products, such as the ACRED credit fund issued by Securitize.

APO shareholders own and govern the company. They currently take a cut of the total return on investment and total assets under management (revenue).

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Real-world asset (RWA) issuers

Apollo

# Apollo Total value locked Methodology

## 1. Overview

Apollo TVL measures the total value locked in Apollo's diversified credit securitize fund across multiple blockchain networks. The metric represents the USD value of all outstanding ACRED tokens, which serve as shares in Apollo's yield aggregator protocol. The calculation tracks the net supply of ACRED tokens across Ethereum, Avalanche, Polygon, Ink, Aptos, and Solana, then converts the outstanding supply to USD values to determine total capital deployed.

## 2. Data sources

The methodology uses the following raw data sources:

- **EVM chain token transfers**: Standard ERC-20 `Transfer` events from Ethereum, Avalanche, Polygon, and Ink networks for specific ACRED token contracts
- **Aptos native events**: `AcredToken_Issue_event` and `AcredToken_Burn_event` from Apollo's Aptos smart contracts
- **Solana token data**: Token balance changes tracking individual holder balances for the ACRED token mint address
- **Token metadata**: Contract information including decimal places for proper amount normalization
- **External price feeds**: CoinGecko price data for Apollo Diversified Credit Securitize Fund token conversion to USD

## 3. Step-by-step calculation

### Component A: EVM chain supply tracking
- **Purpose**: Calculate net ACRED token supply across Ethereum, Avalanche, Polygon, and Ink networks
- **Logic**: Extract token `Transfer` events for ACRED contracts on each chain. Identify mint events as transfers from the zero address (`0x0000000000000000000000000000000000000000`) to any non-zero address. Identify burn events as transfers from any non-zero address to the zero address. Apply decimal corrections using token metadata to normalize amounts. Aggregate mint and burn amounts daily, then calculate cumulative net supply over time using running sum
- **Key fields**: `block_timestamp`, `from_address`, `to_address`, `token_address`, `value` (token amount), `chain` identifier

### Component B: Aptos supply tracking
- **Purpose**: Calculate net ACRED token supply on the Aptos blockchain using native events
- **Logic**: Extract `AcredToken_Issue_event` records as mints and `AcredToken_Burn_event` records as burns from Apollo's Aptos smart contracts. Convert amounts by dividing by 1e6 to account for token decimals. Aggregate mint and burn amounts daily, then calculate cumulative net supply over time
- **Key fields**: `block_timestamp`, `value` (token amount from native events), hardcoded ACRED token address

### Component C: Solana supply tracking
- **Purpose**: Calculate total ACRED token supply on Solana by summing individual holder balances
- **Logic**: Extract token balance changes for the ACRED token mint address from Solana's account-based system. Sum all individual holder `post_balance` amounts to calculate total circulating supply. Forward-fill missing days to ensure continuous time series coverage
- **Key fields**: `block_date`, `token_account`, `mint` (token address), `owner`, `post_balance` (account balance)

### Component D: USD conversion
- **Purpose**: Convert ACRED token amounts to USD values for TVL calculation
- **Logic**: Apply time-based conversion logic. For dates before March 14, 2025, use hardcoded net asset value of $1000 per token. For dates from March 14, 2025 onward, use CoinGecko price feeds for Apollo Diversified Credit Securitize Fund. Multiply outstanding supply by the appropriate price for each date
- **Key fields**: `timestamp`, `outstanding_supply`, `coingecko_id`, hardcoded NAV value

### Final aggregation
- **Combining components**: Union outstanding supply calculations from all chains (EVM chains, Aptos, and Solana) into a single dataset. Each chain contributes its calculated USD value of outstanding ACRED tokens
- **Currency conversion**: USD values are already calculated per component using the time-based pricing logic
- **Time aggregation**: Data is aggregated to daily granularity with forward-filling to ensure no gaps in the time series
- **Final calculation**: Sum the USD value of outstanding ACRED supply across all chains to arrive at total TVL. The result represents the total capital deployed in Apollo's yield aggregator protocol

*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.

Apollo

Total value locked

Total value locked

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