# BlackRock Capital deployed Methodology

## 1. Overview

BlackRock capital deployed measures the total outstanding supply of BlackRock's BUIDL token across multiple blockchain networks. This metric represents the total amount of capital that has been deployed into BlackRock's tokenized money market fund product. The calculation aggregates token supply data from EVM-compatible chains, Aptos, and Solana using different methodologies appropriate to each blockchain's data structure.

## 2. Data sources

- **EVM chain token transfers**: Standard ERC20 `Transfer` events from Ethereum, Avalanche, Arbitrum, Optimism, and Polygon blockchains
- **Aptos parsed events**: BlackRock-specific parsed `BuidlToken_Issue_event` and `BuidlToken_Burn_event` logs from Aptos blockchain
- **Solana token balance snapshots**: Daily token account balance changes for BUIDL token holders on Solana
- **Token metadata**: Decimal precision information for proper unit conversion
- **Chain availability data**: Configuration data determining which chains are included in final metrics based on data availability

## 3. Step-by-step calculation

### Component A: EVM chains supply calculation
- **Purpose**: Calculate outstanding BUIDL token supply across EVM-compatible blockchains using mint and burn events
- **Logic**: Extract mint events by identifying `Transfer` events where the `from` address is the zero address (0x000...000) and the `to` address is non-zero, indicating new tokens being created. Extract burn events by identifying `Transfer` events where the `to` address is the zero address and the `from` address is non-zero, indicating tokens being destroyed. Cover six EVM chains with specific BUIDL token contract addresses: Ethereum (two contract addresses), Avalanche, Arbitrum, Optimism, and Polygon. Combine mint events (positive amounts) with burn events (negative amounts), correct decimal precision using token metadata, and aggregate transfers to daily granularity by chain and token address
- **Key fields**: `block_timestamp`, `transaction_hash`, `log_index`, `from_address`, `to_address`, `token_address`, `value` amount, and derived fields for business classification

### Component B: Aptos supply calculation  
- **Purpose**: Calculate BUIDL token supply on Aptos blockchain using protocol-specific parsed events
- **Logic**: Extract mint events from parsed `BuidlToken_Issue_event` logs and burn events from parsed `BuidlToken_Burn_event` logs for the specific BUIDL token address on Aptos. Apply decimal correction by dividing amounts by 1e6 to normalize units. Convert burn amounts to negative values and combine with mint amounts
- **Key fields**: `block_timestamp`, `transaction_hash`, token address (hardcoded as `0x50038be55be5b964cfa32cf128b5cf05f123959f286b4cc02b86cafd48945f89`), and `value` amount from event logs

### Component C: Solana supply calculation
- **Purpose**: Calculate BUIDL token supply on Solana using account balance snapshots rather than mint/burn events  
- **Logic**: Extract daily token balance snapshots for all holders of the BUIDL token (address `GyWgeqpy5GueU2YbkE8xqUeVEokCMMCEeUrfbtMw6phr`) from Solana token balance change data, filtering for dates after March 22, 2025. Forward-fill missing balance data with zeros to ensure continuous time series for each holder. Sum all individual holder balances to calculate total outstanding supply
- **Key fields**: `block_date`, `token_account`, `mint` address, `owner` address, and `post_balance` amounts

### Final aggregation
- **Combining components**: Union the EVM chains and Aptos supply data (which use similar event-based methodologies) with the Solana supply data (which uses balance snapshots). Both datasets provide daily outstanding supply totals by chain and token address
- **Currency conversion**: No currency conversion required as the metric measures token supply in native units
- **Time aggregation**: Daily aggregation with forward-filling to ensure continuous time series without gaps
- **Final calculation**: Apply the finalize metric macro with fill zeros strategy to standardize schema, validate identifiers, and ensure complete time series coverage. Apply chain availability filtering to exclude chains where data may not be available or reliable for the given time period

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

Value of capital allocated into investments by an asset manager.

Capital deployed

BlackRock

Investors deposit funds into the funds managed by BlackRock, and BlackRock charges management fees. We currently track the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), launched in 2024.

BlackRock is the world's largest investment manager, with $10 trillion in assets under management. It was founded in 1988. Note that the data shown for BlackRock covers only its tokenized onchain products, such as the BUIDL money market fund.

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

BlackRock

Capital deployed

Capital deployed

Competitive landscape

Chain breakdown