Fraxtal batches users' transactions and submits them to Ethereum, paying a share of the transaction fees to Ethereum validators (expense).

Fraxtal is an Ethereum Layer 2 (L2) blockchain built on the OP Stack by Frax Finance. It uses frxETH as the gas token and features a blockspace incentive system called Flox. Fraxtal launched in February 2024.

Frax Finance team owns and governs the protocol. Frax Finance's investors include Dragonfly Capital, Mechanism Capital, Galaxy Digital, etc.

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Fraxtal

# Fraxtal Bridge deposits Methodology

## 1. Overview

Bridge deposits represents the total USD value of assets held in Fraxtal's Ethereum bridge contracts. This metric measures the amount of capital that users have deposited to bridge assets from Ethereum to the Fraxtal Layer 2 network. It serves as an indicator of capital inflow and user adoption of the Fraxtal ecosystem.

## 2. Data sources

- **Ethereum token balances**: Current token holdings at specific bridge contract addresses on Ethereum
- **Token transfer events**: Ethereum `Transfer` events to track balance changes at monitored addresses  
- **End-of-day price feeds**: Token price data for USD conversion
- **Token metadata**: Token contract information including decimal places and symbols
- **Transaction data**: Ethereum transaction records for balance validation

## 3. Step-by-step calculation

### Component A: Bridge address configuration
- **Purpose**: Identify the specific Ethereum addresses that hold bridged assets for Fraxtal
- **Logic**: The calculation targets two specific bridge contract addresses on Ethereum: `0x34c0bd5877a5ee7099d0f5688d65f4bb9158bde2` and `0x36cb65c1967a0fb0eee11569c51c2f2aa1ca6f6d`. These addresses represent the smart contracts that custody user deposits when bridging assets to Fraxtal.
- **Key fields**: `account_addresses` containing the monitored bridge contract addresses

### Component B: Portfolio balance calculation  
- **Purpose**: Calculate the current token balances held at the bridge addresses
- **Logic**: The portfolio calculation macro processes token balance data for all tokens held at the specified bridge addresses. This involves tracking token transfer events to determine current holdings, applying proper decimal conversion based on each token's specifications, and aggregating balances across all tokens and addresses.
- **Key fields**: `balance` representing token quantities, `timestamp` for data timing, `chain` identifying Ethereum network

### Component C: USD conversion and business categorization
- **Purpose**: Convert token balances to USD values and apply business classification
- **Logic**: Token balances are converted to USD using end-of-day price feeds matched to the appropriate timestamp. The data is categorized with business-relevant classifications including `blockchains_l2` as the market sector and `blockchain` as the business segment. Balances are summed across all addresses and tokens to get the total bridge deposit value.
- **Key fields**: `bridge_deposits` as the aggregated USD value, `market_sector_id` and `business_segment_id` for categorization

### Final aggregation
- **Combining components**: All token balances from both bridge addresses are summed together after USD conversion to create a single total bridge deposit value per timestamp
- **Currency conversion**: Token amounts are converted to USD using end-of-day price feeds, with proper decimal adjustment based on each token's specifications  
- **Time aggregation**: Data is processed with timestamp grain specification to ensure consistent time boundaries
- **Final calculation**: The final metric represents the total USD value of all assets held across the specified Fraxtal bridge addresses on Ethereum, providing a measure of capital deposited for bridging to the Layer 2 network. A fill-forward strategy is applied to handle missing data points, and chain availability filtering ensures data quality standards are met.

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

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

FraxtalFXTL

Bridge deposits

Bridge deposits

Competitive landscape

Chain breakdown