# Bifrost Liquid Staking Assets staked Methodology

## 1. Overview

Assets staked measures the total value of assets deposited into Bifrost Liquid Staking to mint liquid staking derivatives, known as vTokens. This metric represents the total value locked within the protocol's liquid staking pools and serves as a primary indicator of the project's revenue-generation capacity, as protocol fees are typically derived from the staking rewards earned on these assets. Assets are tracked across multiple ecosystems, including Polkadot, Moonbeam, Astar, and Filecoin, with all values normalized to USD.

## 2. Data sources

- **Blockchain events**: `token_pools` state data and `Minted` events from `vtokenMinting` contracts, covering Bifrost Substrate
- **External data**: End-of-day price feeds for underlying assets and asset metadata

## 3. Step-by-step calculation

### Component A: Staked balance extraction

- **Purpose**: Capture the raw quantity of assets held in Bifrost Liquid Staking pools
- **Logic**: Staked balances are extracted from `token_pools` state records within the `vtokenMinting` pallet. Assets are identified and categorized using a mapping of currency indexes to their respective underlying assets, including DOT, GLMR, ASTR, FIL, MANTA, and BNC.
- **Key fields**: `pool_amount`, `currency_id`, `currency_index`

### Component B: vToken price ratio calculation

- **Purpose**: Determine the current exchange rate between vTokens and their underlying staked collateral
- **Logic**: `Minted` events from `vtokenMinting` contracts are parsed to extract the amounts of underlying assets and the corresponding vTokens minted. A daily price ratio is calculated by dividing the underlying asset amount by the vToken amount. These ratios are averaged daily and filled forward to ensure continuous valuation of the staking pools.
- **Key fields**: `token_amount`, `v_token_amount`, `currency_key`, `currency_index`

### Component C: Normalization and USD conversion

- **Purpose**: Convert raw pool balances into a standardized USD value
- **Logic**: Raw staked balances are normalized by decimal precision and multiplied by the applicable vToken price ratio to calculate the equivalent amount of the underlying asset. These values are then multiplied by end-of-day price feeds for each respective asset. The final results are aggregated by day and chain to produce the total Assets staked metric.
- **Key fields**: `decimals`, `vtoken_price_ratio`, `price_usd`

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

Value of assets staked or restaked through the project.

Assets staked

Liquid staking

Collators aggregate parachain transactions block candidates and producing state transition proofs for validators based on those blocks.

Bifrost is the Staking Yield Layer app-chain for stablecoins, RWAs, and DeFi, powered by the Polkadot Relay chain.

BNC holders own and govern the protocol. Bifrost’s investors include OKX Ventures, Long Hash Ventures, etc.

Bifrost Liquid Staking

Archived

Assets staked

Assets staked

Chain breakdown