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Blockchains (L3)

Degen

# Degen Bridge deposits Methodology

## 1. Overview

The Degen bridge deposits metric measures the total USD value of tokens held in Degen's official bridging address on Base chain. This metric tracks the amount of assets that users have deposited into the bridge infrastructure, providing insight into the capital locked in cross-chain bridging operations for the Degen ecosystem. The calculation focuses on monitoring the portfolio balance of the designated bridge contract address.

## 2. Data sources

- **Base blockchain transaction traces**: Transaction-level data showing token movements in and out of the bridge address
- **Base blockchain event logs**: Parsed `Transfer` events from ERC-20 token contracts to track token transfers
- **End-of-day token price feeds**: USD price data for converting token balances to dollar values
- **Token metadata**: ERC-20 token contract information including decimal places and token symbols
- **Base blockchain balance snapshots**: Historical balance data for the bridge address across different tokens
- **Chain availability data**: Base chain data availability windows for quality assurance

## 3. Step-by-step calculation

### Component A: Bridge address identification
- **Purpose**: Define the specific bridge address to monitor for deposit tracking
- **Logic**: Target the hardcoded bridge address `0xefef4558802bf373ce3307189c79a9cab0a4cb9c` on Base chain, which serves as Degen's official bridging contract
- **Key fields**: Bridge address (`account_addresses`) and chain identifier (`base`)

### Component B: Portfolio balance calculation
- **Purpose**: Calculate the total token portfolio held by the bridge address across all supported tokens
- **Logic**: Use the portfolio calculation macro to process Base blockchain transaction data and determine current token balances for the bridge address. This involves analyzing all inbound and outbound token transfers to compute net balances for each token type held by the bridge
- **Key fields**: Token balances (`balance`), timestamp information, and chain identifier

### Component C: Business data enrichment
- **Purpose**: Add business classification metadata to categorize the metric appropriately
- **Logic**: Classify the bridge deposits under the market sector `blockchains_l3` and business segment `blockchain` to properly categorize this Layer 3 blockchain infrastructure metric. Set product identifier as null since this represents overall bridge activity rather than a specific product
- **Key fields**: Market sector (`market_sector_id`), business segment (`business_segment_id`), product identifier (`product_id`)

### Final aggregation
- **Combining components**: Sum all individual token balances held by the bridge address to create a total bridge deposits value
- **Currency conversion**: Convert token balances to USD using end-of-day price feeds, applying appropriate decimal corrections for each token type
- **Time aggregation**: Aggregate data by timestamp grain (typically daily) to create consistent time series data points
- **Final calculation**: Apply the finalization macro with fill-forward strategy to handle missing data points and ensure complete time series coverage. Filter results based on Base chain data availability windows to maintain data quality standards

The final metric represents the total USD value of all tokens currently held in Degen's bridge address, serving as a proxy for the total capital deposited into the bridging infrastructure by users.

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

Value of assets held in a project's bridge contracts.

DegenDEGEN

Bridge deposits

Bridge deposits

Competitive landscape

Chain breakdown