Fidelity-issued tokens are deployed on regulated tokenization platforms (e.g., Sygnum Desygnate) and represent fractional interests in underlying money-market and treasury portfolios, with NAV mechanics managed by Fidelity Asset Management.

Fidelity issues tokenized money-market and digital-asset products through Fidelity International and Fidelity Digital Assets, including the USD Digital Liquidity Fund (FILQ) and the Fidelity Digital Dollar stablecoin.

Fidelity Investments is one of the world's largest financial services providers, managing over $14 trillion in assets for institutional and retail clients globally.

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Fidelity

# Fidelity Capital deployed Methodology

## 1. Overview

Capital deployed for Fidelity measures the total outstanding supply of FDIT (Fidelity Digital Assets Token) tokens, representing the amount of capital currently deployed within the Fidelity protocol. This metric tracks the net cumulative token supply by monitoring mint and burn events on Ethereum. Since FDIT tokens maintain a 1:1 peg with USD, the outstanding token supply directly reflects the USD value of capital deployed in the protocol.

## 2. Data sources

The calculation relies on the following raw data sources:
- **Ethereum ERC-20 token transfers**: Parsed `Transfer` events from the Ethereum blockchain for the FDIT token contract (`0x48ab4e39ac59f4e88974804b04a991b3a402717f`)
- **Token metadata**: Token decimal configuration data used for converting raw transfer amounts to proper token units
- **Chain configuration**: Ethereum chain availability filters to ensure data quality

## 3. Step-by-step calculation

### Component A: FDIT mint tracking
- **Purpose**: Identifies and quantifies new FDIT tokens created (capital inflows)
- **Logic**: Parses Ethereum `Transfer` events for the FDIT token contract where the `from_address` is the zero address (`0x0000000000000000000000000000000000000000`) and the `to_address` is any non-zero address. This pattern identifies token minting events where new tokens are created and sent to users. Each mint event captures the timestamp, transaction hash, log index, addresses involved, and token amount
- **Key fields**: `block_timestamp`, `transaction_hash`, `log_index`, `from_address`, `to_address`, `token_address`, `value` (token amount), plus metadata fields including `chain`, `market_sector_id` (asset_management), `business_segment_id` (yield_aggregator), `product_id` (fdit), and `version` (v1)

### Component B: FDIT burn tracking  
- **Purpose**: Identifies and quantifies FDIT tokens destroyed (capital outflows)
- **Logic**: Parses Ethereum `Transfer` events for the FDIT token contract where the `to_address` is the zero address and the `from_address` is any non-zero address. This pattern identifies token burning events where existing tokens are destroyed by sending them to the zero address. Each burn event captures the same transaction details as mints but represents capital leaving the protocol
- **Key fields**: Same structure as mint events - `block_timestamp`, `transaction_hash`, `log_index`, `from_address`, `to_address`, `token_address`, `value` (token amount), plus the same metadata classification fields

### Component C: Outstanding supply calculation
- **Purpose**: Combines mints and burns to calculate net outstanding token supply over time
- **Logic**: Unions the mint and burn datasets, treating mints as positive amounts and burns as negative amounts. Applies decimal correction using token metadata to convert raw transfer values from wei to proper token units. Aggregates all mint and burn events by day, summing the net token movements. Calculates a running cumulative sum of daily net changes to determine the outstanding supply at each point in time. Applies forward filling to ensure continuous daily time series data with no gaps
- **Key fields**: `timestamp` (daily), `outstanding_supply` (cumulative token supply), plus dimensional fields for classification and chain identification

### Final aggregation
- **Combining components**: The mint and burn components are combined through a union operation where mints contribute positive amounts and burns contribute negative amounts to calculate net daily supply changes
- **Currency conversion**: Applies a hardcoded 1:1 USD conversion (multiplying by 1) reflecting FDIT's USD peg, making the outstanding token supply equivalent to USD value
- **Time aggregation**: All transaction-level events are aggregated to daily boundaries using timestamp truncation, then forward filled to ensure complete daily coverage
- **Final calculation**: The final capital deployed value equals the cumulative outstanding supply of FDIT tokens, where each token represents $1 USD of capital deployed in the Fidelity protocol. The metric undergoes final validation and schema standardization through the finalize_metric_capital_deployed macro, which ensures proper dimensional IDs and applies any necessary gap filling strategies.

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

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