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Stablecoin issuers

Fathom

# Fathom Total value locked Methodology

## 1. Overview

Total Value Locked (TVL) for Fathom represents the total USD value of assets locked across the Fathom protocol ecosystem. This includes the outstanding supply of Fathom Dollar stablecoin, liquidity in Fathom DEX pools, idle deposits in lending markets, and active loans. The metric aggregates value from four distinct components to provide a comprehensive view of capital deployment within the Fathom protocol.

## 2. Data sources

- **XDC blockchain token transfer events**: Transfer events for Fathom Dollar stablecoin mints, burns, and lending market deposit/withdrawal flows
- **Fathom DEX event logs**: Parsed `Pair_Sync_event` logs tracking liquidity pool reserve updates and `Factory_PairCreated_event` logs for trading pair creation
- **Fathom Lending event logs**: Parsed `VToken_Mint_event` and `VToken_Burn_event` logs tracking variable debt token minting and burning, plus `ReserveInitialized` events for market configuration
- **End-of-day token price feeds**: Daily USD price data for all tokens in the ecosystem
- **Token metadata**: Token symbols and decimal configurations for proper amount normalization

## 3. Step-by-step calculation

### Component A: Fathom Dollar stablecoin outstanding supply
- **Purpose**: Tracks the total circulating supply of Fathom Dollar stablecoin
- **Logic**: Identifies Fathom Dollar token transfers where the sender is the null address (`0x0000000000000000000000000000000000000000`) as mints, and transfers where the recipient is either the null address or dead address (`0x000000000000000000000000000000000000dead`) as burns. Calculates daily net issuance by summing mints minus burns, then computes cumulative outstanding supply over time. Applies decimal correction using token metadata and converts to USD using end-of-day price feeds. Forward fills missing days to ensure continuous time series.
- **Key fields**: `token_address` for Fathom Dollar (`0x49d3f7543335cf38fa10889ccff10207e22110b5`), `from_address` and `to_address` to identify mints/burns, `value` for transfer amounts, `outstanding_supply` for cumulative calculation

### Component B: DEX pool liquidity
- **Purpose**: Captures total value locked in Fathom DEX liquidity pools
- **Logic**: Processes `Pair_Sync_event` logs to track reserve amounts for `token0` and `token1` in each trading pair. Calculates daily changes in reserves by comparing current day reserves with previous day reserves, using the last reserve update of each day. For the first day of a pair, uses the full reserve amount as the initial deposit. Joins with `Factory_PairCreated_event` data to obtain trading pair metadata including token addresses and decimals. Converts each token amount to USD using respective end-of-day price feeds, then sums the USD values of both tokens to get total pool TVL.
- **Key fields**: `reserve0_amount` and `reserve1_amount` from sync events, `token0_address` and `token1_address` from pair creation, `account_address` for pool identification

### Component C: Lending idle deposits  
- **Purpose**: Tracks deposits sitting idle in lending markets (not currently borrowed)
- **Logic**: Monitors token transfers where the recipient is an `aToken` address (representing deposits) and transfers where the sender is an `aToken` address (representing withdrawals). Joins transfer events with lending market configuration from `ReserveInitialized` events to identify valid lending markets. Calculates daily net flows by summing inflows minus outflows per market, then computes cumulative idle balances over time. Excludes the FTHM lending market due to inactivity and price unavailability. Applies decimal correction and converts to USD using end-of-day price feeds.
- **Key fields**: `atoken_address` for market identification, `underlying_token_address` for the deposited asset, `amount` for transfer values, `tvl` for cumulative idle balance

### Component D: Active loans
- **Purpose**: Represents the value of outstanding variable-rate loans in lending markets
- **Logic**: Tracks `VToken_Mint_event` logs as new borrows (increases outstanding debt) and `VToken_Burn_event` logs as repayments (decreases outstanding debt). Calculates daily net borrowing activity by summing mints minus burns per `vtoken_address`, then computes cumulative outstanding debt over time. Joins with lending market metadata to map variable debt tokens to underlying assets. Applies decimal correction and converts outstanding loan amounts to USD using end-of-day price feeds.
- **Key fields**: `vtoken_address` for debt token identification, `value` for mint/burn amounts, `active_loans` for cumulative outstanding debt

### Final aggregation
- **Combining components**: Unions all four component datasets on common dimensions including `timestamp`, `timestamp_grain`, `chain_id`, and `product_id`. Each component contributes its TVL value to the same metric structure.
- **Currency conversion**: All USD conversions use end-of-day price feeds matched by timestamp, token address, and chain. Decimal correction normalizes token amounts using metadata before price conversion.
- **Time aggregation**: Daily aggregation boundaries based on block timestamps truncated to day level. Forward filling ensures continuous time series with no gaps.
- **Final calculation**: Applies the `finalize_metric_tvl` macro with `fill_zeros` strategy to standardize schema, validate identifiers, and handle missing data. Chain availability filtering ensures only supported networks are included in the final output.

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

Total value locked (TVL)

Total value locked (TVL) — value deposited into the project's applications.

Fathom

Total value locked

Total value locked

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