BitDAO receives contributions from Bybit and the BIT token holders vote on how the assets under management are used. BitDAO has been involved in launching for example ZkDAO and Game7.

BitDAO is a DAO aimed to advance open finance and tokenized economy. BitDAO was founded by crypto exchange Bybit and launched in 2021.

BIT tokenholders own and govern the protocol. They currently manage the treasury. BitDAO’s investors include Founders Fund, Jump Capital, Pantera Capital etc.

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BitDAO

# BitDAO Treasury (net) Methodology

## 1. Overview

BitDAO treasury net measures the total USD value of tokens held in BitDAO's treasury addresses. This metric provides a comprehensive view of the protocol's treasury assets by tracking token balances across specified treasury addresses and converting them to USD values using end-of-day pricing data. The calculation focuses on two primary Ethereum treasury addresses while excluding certain tokens from the valuation.

## 2. Data sources

- **Ethereum token transfer events**: Parsed `Transfer` events and token movement logs from Ethereum blockchain
- **Token metadata**: Token symbols, decimal places, and contract information
- **End-of-day price feeds**: Daily token price data in USD for currency conversion
- **Ethereum transaction traces**: Transaction-level data for balance tracking
- **Token balance snapshots**: Historical balance state data for treasury addresses

## 3. Step-by-step calculation

### Component A: Treasury balance changes tracking
- **Purpose**: Track token balance changes for specific BitDAO treasury addresses
- **Logic**: The system monitors two specific Ethereum addresses (`0x02c2e03c5f241794909d953f5b8fa630856f172c` and `0x78605df79524164911c144801f41e9811b7db73d`) for all token movements. It processes parsed `Transfer` events and transaction traces to identify when tokens flow in or out of these addresses. The system excludes one specific token address (`0x1a4b46696b2bb4794eb3d4c26f1c55f9170fa4c5`) from the treasury calculation. Balance changes are captured with precise timestamps and organized by chain, account address, and token address.
- **Key fields**: `timestamp` for when changes occurred, `chain_id` for blockchain identification, `account_address` for treasury addresses, `token_address` for specific tokens, `balance` for the change amount, and `token_symbol` for token identification

### Component B: Cumulative balance calculation
- **Purpose**: Convert balance changes into running cumulative balances over time
- **Logic**: The system applies window functions to calculate cumulative running sums of balance changes. Balances are partitioned by timestamp grain, chain, account address, and token address, then ordered by timestamp to create a chronological running total. This transforms individual transaction-level changes into point-in-time balance snapshots for each token held by each treasury address.
- **Key fields**: Cumulative `balance` amounts representing total holdings at each point in time

### Component C: Forward-filling missing data
- **Purpose**: Ensure continuous daily data points even when no transactions occur
- **Logic**: The system applies forward-filling logic to propagate the last known balance forward through time periods with no activity. This ensures that every day has a balance value for each token-address combination, using the most recent actual balance when no new transactions have occurred. This creates a complete daily time series for treasury tracking.
- **Key fields**: Filled `balance` values with no gaps in the daily timeline

### Component D: USD conversion
- **Purpose**: Convert token balances to USD values for aggregation
- **Logic**: The system joins filled balance data with end-of-day price feeds using timestamp, chain, and token address as matching keys. It multiplies token balances by their corresponding USD prices using safe multiplication to handle potential null values. Only tokens with positive balances and available price data are included in the conversion. The conversion uses daily price granularity to ensure consistent valuation timing.
- **Key fields**: `amount` representing USD value of token holdings

### Final aggregation
- **Combining components**: Token USD amounts are naturally aggregated by summing across all tokens and treasury addresses for each timestamp, creating a total treasury value
- **Currency conversion**: USD conversion occurs before final aggregation using end-of-day price feeds with safe multiplication to handle edge cases
- **Time aggregation**: Data is organized by daily boundaries with forward-filling to ensure complete coverage
- **Final calculation**: The final treasury net value represents the sum of all token holdings (in USD) across both treasury addresses, excluding the specified token, filtered for positive balances only, and processed through the finalize metric macro with a zero-filling strategy for missing data points

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

Total value of a project's treasury excluding its native token.

BitDAOBIT

Treasury (net)

Treasury (net)

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