AVSs (Autonomous Verifiable Services) reward stakers and operators in exchange for security for third party services (supply-side fees).

EigenCloud is a marketplace connecting stakers and operators with applications that need active security. EigenCloud was founded by Sreeram Kannan and launched in 2023.

EigenCloud team and investors own and govern the protocol. They do not currently take a cut of the total rewards paid by AVSs (revenue). EigenCloud's investors include Blockchain Capital, Polychain Capital, Coinbase Ventures, etc.

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# EigenCloud EIGEN staked Methodology

## 1. Overview

This metric measures the total value of EIGEN tokens staked across all EigenLayer restaking strategies. It captures the aggregate amount of EIGEN tokens that users have deposited into various EigenLayer strategies for restaking purposes. The calculation aggregates EIGEN token holdings from all active strategies, converts them to USD values using end-of-day pricing, and provides daily snapshots of total staked value.

## 2. Data sources

- **EigenLayer strategy state data**: On-chain state information from EigenLayer strategy contracts containing underlying asset amounts and token compositions for each strategy
- **End-of-day token price feeds**: Daily closing prices for EIGEN token used for USD conversion
- **Token metadata**: Token decimal specifications and contract address mappings needed for proper amount formatting and token identification

## 3. Step-by-step calculation

### Component A: Strategy underlying assets extraction
- **Purpose**: Extracts the underlying token amounts held by each EigenLayer strategy from contract state data
- **Logic**: Retrieves strategy state information including strategy addresses, token addresses, and underlying asset amounts. The `underlying_assets` field contains JSON-formatted data that specifies the quantity of each token held by the strategy. This data is extracted and converted to numeric format for further processing.
- **Key fields**: `timestamp`, `chain`, `token_address`, `strategy_address`, and `amount` (extracted from `underlying_assets` JSON)

### Component B: Token address normalization  
- **Purpose**: Standardizes token addresses to ensure consistent tracking of EIGEN tokens across different representations
- **Logic**: Applies a mapping transformation that converts bEIGEN token addresses (`0x83e9115d334d248ce39a6f36144aeab5b3456e75`) to the standard EIGEN token address (`0xec53bf9167f50cdeb3ae105f56099aaab9061f83`). This ensures that both bEIGEN and EIGEN tokens are tracked under a unified identifier for accurate aggregation.
- **Key fields**: Normalized `token_address` field that maps all EIGEN-related tokens to the primary EIGEN address

### Component C: EIGEN token filtering
- **Purpose**: Isolates only the EIGEN token holdings from the complete strategy portfolio data
- **Logic**: Filters the normalized strategy data to include only records where the `token_address` matches the EIGEN token contract address (`0xec53bf9167f50cdeb3ae105f56099aaab9061f83`). This creates a focused dataset containing only EIGEN token amounts across all strategies and chains.
- **Key fields**: `eigen_staked` (the filtered amount of EIGEN tokens), `timestamp`, `chain_id`, and `token_address`

### Component D: USD conversion and decimal correction
- **Purpose**: Converts raw token amounts to properly formatted USD values
- **Logic**: Applies decimal correction based on the EIGEN token's 18-decimal specification to convert from Wei units to standard token units. Then converts these amounts to USD using end-of-day EIGEN token prices. The conversion ensures accurate financial reporting by applying the correct decimal places and using daily closing prices.
- **Key fields**: USD-denominated `eigen_staked` amounts with proper decimal formatting

### Final aggregation
- **Combining components**: The processed EIGEN token amounts from all strategies are aggregated by date and chain to provide total staked values
- **Currency conversion**: USD values are calculated using end-of-day EIGEN token prices applied to the decimal-corrected token amounts
- **Time aggregation**: Daily snapshots are created with `timestamp_grain` set to 'day' for consistent time-series reporting
- **Final calculation**: The metric represents the sum of all EIGEN token amounts held across EigenLayer strategies, converted to USD using daily closing prices, with missing dates filled with zero values to maintain complete time series continuity. Chain availability filtering excludes unsupported networks like Blast from the final results.

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

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