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.

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Bifrost

# Bifrost Total value locked Methodology

## 1. Overview

Total value locked (TVL) for Bifrost is measured as the total USD value of assets deposited across the ecosystem, including both liquid staking pools and stable asset swap pools. Assets staked through Bifrost Liquid Staking (where vTokens are issued as liquid representations of staked assets) are combined with assets deposited in Bifrost Stable Swaps pools.

## 2. Data sources

- **Blockchain events**: `Minted` events from `vtokenMinting` contracts, staking pool balances, and stable swap pool balances, covering Bifrost Substrate
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Bifrost Liquid Staking assets

- **Purpose**: Calculate the total value of assets staked through Bifrost Liquid Staking
- **Logic**: Staking pool data is extracted for each supported asset. Asset identifiers are mapped to standard symbols using the hardcoded asset mapping table. Amounts are normalized by decimal precision and multiplied by vToken price conversion ratios where applicable. For vTokens, exchange rates are derived from historical `Minted` events from `vtokenMinting` contracts by taking the average daily ratio of underlying assets to vTokens minted. These ratios are forward-filled to handle days without minting activity.
- **Key fields**: `total_staking`, `currency_id`, `token`, `decimals`, `vtoken_price_ratio`

### Component B: Bifrost Stable Swaps pool assets

- **Purpose**: Calculate the total value of assets locked in Bifrost Stable Swaps pools
- **Logic**: Balance data is extracted from stable asset pools containing pairs of assets. Respective balances are captured from `asset_1_balance` and `asset_2_balance` fields. Each asset is processed separately by mapping asset identifiers to standard symbols, normalizing amounts by decimal precision, and applying vToken price conversion ratios. Pool balances are aggregated to prevent double-counting across multiple pools.
- **Key fields**: `asset_1_balance`, `asset_2_balance`, `pool_id`

### Component C: vToken price conversion

- **Purpose**: Convert vToken amounts to underlying asset equivalents for accurate TVL calculation
- **Logic**: `Minted` events from `vtokenMinting` contracts are parsed to extract the exchange rate between underlying assets and their vToken derivatives. For each minting event, the ratio is calculated by dividing `token_amount` by `v_token_amount`. These ratios are grouped by day and currency, and the average ratio is taken to smooth out variations. Ratios are forward-filled across time gaps to ensure continuous availability, and then applied to vToken balances in both liquid staking pools and stable swap pools.
- **Key fields**: `token_amount`, `v_token_amount`, `vtoken_price_ratio`

### Component D: USD conversion and aggregation

- **Purpose**: Combine liquid staking and stable swap assets, convert to USD, and aggregate to final TVL
- **Logic**: Processed assets from Bifrost Liquid Staking and Bifrost Stable Swaps are combined into a single dataset. All asset amounts are converted to USD using end-of-day price feeds, matched via asset metadata. Values are aggregated by day using block timestamps truncated to daily boundaries. The USD-converted values are summed across both components to produce the total TVL, with zero-filling applied for missing days to ensure continuous daily coverage.
- **Key fields**: `timestamp`, `product_id`, `chain_id`, `tvl`

*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.

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