Liquidity providers deposit funds into Camelot and receive trading fees from traders (supply-side fees).

Camelot is a non-custodial exchange protocol built on Arbitrum. Camelot was founded by the pseudonymous Myrddin and launched in 2022.

GRAIL tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue).

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Camelot

# Camelot Treasury Methodology

## 1. Overview

The Camelot treasury metric measures the total USD value of tokens held across all official Camelot protocol treasury addresses. This metric tracks the protocol's financial reserves by monitoring token balances across designated treasury wallets on Arbitrum and converting the holdings to USD using end-of-day price feeds. The calculation provides a comprehensive view of Camelot's treasury health by aggregating all token holdings across multiple treasury addresses.

## 2. Data sources

- **Arbitrum token transfers**: Parsed ERC-20 `Transfer` events from Arbitrum blockchain to track token movements into and out of treasury addresses
- **Arbitrum ETH transfers**: Arbitrum transaction traces to capture native ETH transfers involving treasury addresses
- **Token price feeds**: End-of-day token price feeds providing USD conversion rates for all held tokens
- **Token metadata**: Token information including symbols and decimal precision for accurate balance calculations

## 3. Step-by-step calculation

### Component A: Treasury balance tracking
- **Purpose**: Tracks token balance changes for all designated Camelot treasury addresses
- **Logic**: Processes ERC-20 `Transfer` events and ETH transaction traces on Arbitrum to identify token movements involving the 6 hardcoded Camelot treasury addresses (`0x3b8c741651e2913c26fa926555a75f09f3255866`, `0x03ff2d78afb69e0859ec6beb4cf107d3741e97ab`, `0x48e365daebe55aa21bb39e4c2876661827d566c5`, `0xf482881968d1f1d99397310636ff9fac070f63c6`, `0xe31d786cc60f2e23ad65646d30546e46227af066`, `0xe57a86c232b4db760caff9d5fcc3ce893034ca67`). For each address-token pair, calculates net balance changes by subtracting token outflows from inflows
- **Key fields**: `account_address` (treasury wallet address), `token_address` (token contract address), `balance` (net balance change), `timestamp` (when the change occurred)

### Component B: Cumulative balance calculation
- **Purpose**: Converts balance changes into running balances for each treasury address and token
- **Logic**: Applies cumulative sum calculations using window functions partitioned by address and token, ordered by timestamp. This transforms discrete balance changes into continuous balance snapshots showing total holdings at each point in time
- **Key fields**: `balance` (cumulative token balance), partitioned by `account_address` and `token_address`

### Component C: Data continuity
- **Purpose**: Ensures continuous time series data for accurate treasury tracking
- **Logic**: Uses fill-forward methodology to populate missing timestamps with the last known balance value for each address-token combination. This prevents gaps in the treasury calculation and maintains accurate balance tracking between transaction events
- **Key fields**: Maintains all existing fields while filling gaps in the `timestamp` dimension

### Component D: USD conversion
- **Purpose**: Converts all token balances to USD for aggregation across different tokens
- **Logic**: Joins treasury balance data with end-of-day price feeds, matching on timestamp, chain, and token address. Multiplies token balance by USD price to get dollar value. Only includes positive balances and filters for daily price granularity
- **Key fields**: `amount` (USD value of token holding), calculated as `balance` multiplied by `price_usd`

### Final aggregation
- **Combining components**: All USD-converted token balances across all treasury addresses are summed to calculate total treasury value
- **Currency conversion**: Uses end-of-day price feeds to convert each token balance to USD before aggregation
- **Time aggregation**: Daily snapshots showing treasury value at each point in time
- **Final calculation**: The treasury metric represents the sum of all USD-converted token balances held across the 6 designated Camelot treasury addresses on Arbitrum, providing a comprehensive measure of the protocol's total financial reserves

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

Total value of a project's onchain treasury, including its native token.

CamelotGRAIL

Treasury

Treasury

Competitive landscape

Chain breakdown