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# Etherex rex33 supply Methodology

## 1. Overview

The REX33 supply metric measures the total outstanding supply of REX33 tokens in the Etherex V2 protocol on the Linea blockchain. This metric tracks the cumulative net supply changes over time by monitoring mint and burn events. REX33 appears to be a share-based token where users can deposit assets to mint tokens (increasing supply) or withdraw by burning tokens (decreasing supply). The calculation provides daily snapshots of the total circulating REX33 token supply.

## 2. Data sources

The calculation relies on the following raw data sources:
- **Linea blockchain event logs**: Parsed smart contract events from the Etherex V2 protocol REX33 contracts
- **REX33 Deposit events**: Blockchain events triggered when users mint new REX33 tokens by depositing assets
- **REX33 Withdraw events**: Blockchain events triggered when users burn REX33 tokens to withdraw assets  
- **Linea transaction metadata**: Block timestamps and transaction details for event timing and validation

## 3. Step-by-step calculation

### Component A: Mint event processing
- **Purpose**: Captures all REX33 token minting transactions that increase total supply
- **Logic**: Extracts `Deposit` events from Etherex V2 REX33 contracts on Linea blockchain. Filters out any removed or invalid events using `removed = false` condition. Standardizes event data with chain identifier as 'linea', product identifier as 'Constant Product', and version as 'v2'. Each mint event represents tokens created when users deposit assets into the protocol.
- **Key fields**: `block_timestamp` for timing, `transaction_hash` and `log_index` for unique identification, `token_address` for the specific REX33 contract, `sender` and `owner` addresses for the transaction parties, and `amount` representing the shares minted

### Component B: Burn event processing  
- **Purpose**: Captures all REX33 token burning transactions that decrease total supply
- **Logic**: Extracts `Withdraw` events from Etherex V2 REX33 contracts on Linea blockchain. Applies the same filtering and standardization as mint events. Each burn event represents tokens destroyed when users withdraw assets from the protocol.
- **Key fields**: `block_timestamp` for timing, `transaction_hash` and `log_index` for unique identification, `token_address` for the specific REX33 contract, `sender`, `receiver`, and `owner` addresses for the transaction parties, and `amount` representing the shares burned

### Component C: Daily supply change calculation
- **Purpose**: Combines mint and burn events to calculate net daily supply changes
- **Logic**: Unions mint events (with positive `amount` values) and burn events (with negative `amount` values) into a single dataset. Truncates `block_timestamp` to day level and groups by timestamp, chain, product identifier, and token address. Sums all amount changes within each day to calculate the net daily supply change (`outstanding_delta`).
- **Key fields**: Daily `timestamp`, `chain`, `product_id`, `token_address`, and `outstanding_delta` representing net supply change for each day

### Component D: Cumulative supply calculation
- **Purpose**: Computes running total of outstanding REX33 supply over time
- **Logic**: Applies a cumulative sum window function over the daily supply changes, partitioned by chain and token address and ordered chronologically by timestamp. This creates a running total where each day shows the total outstanding supply up to that point in time.
- **Key fields**: `outstanding_supply` representing the cumulative total supply for each day

### Final aggregation
- **Combining components**: The daily supply changes flow directly into the cumulative calculation as a single pipeline
- **Currency conversion**: No currency conversion is applied as this tracks token quantities, not USD values. Decimal correction is applied without USD conversion to ensure proper token unit formatting
- **Time aggregation**: Data is aggregated at daily boundaries using day-level timestamp truncation. Missing days are forward-filled to ensure continuous time series coverage
- **Final calculation**: The final metric value is the cumulative sum of daily net supply changes (mints minus burns) from the protocol's inception to each date, providing the total outstanding REX33 token supply for each day

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

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