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GRVT

# GRVT Total value locked Methodology

## 1. Overview

Total Value Locked (TVL) for GRVT represents the USD value of assets deposited into the protocol's native token vault. GRVT TVL is calculated by tracking the USDT balance held in the L1NativeTokenVault contract and converting it to USD. This metric measures the total value of user deposits that have been bridged to the GRVT protocol.

## 2. Data sources

- **GRVT chain balance snapshots**: Daily balance state data from GRVT's L1NativeTokenVault contract, containing USDT deposit amounts in JSON format
- **USDT token price feeds**: End-of-day price feeds for USDT to enable USD conversion
- **Token metadata**: USDT token information including decimal places (6 decimals) for proper balance calculation

## 3. Step-by-step calculation

### Component A: Balance extraction
- **Purpose**: Extract raw USDT balance data from GRVT's native token vault
- **Logic**: Parse daily balance snapshots from the L1NativeTokenVault contract on GRVT chain. Extract the `balance` field from JSON format and convert to numeric value. Set the token address to USDT (`0xdac17f958d2ee523a2206206994597c13d831ec7`) and chain to Ethereum with daily timestamp granularity.
- **Key fields**: `timestamp` (daily), `chain` (ethereum), `token_address` (USDT), `balance` (raw USDT amount)

### Component B: USD conversion and bridge deposits
- **Purpose**: Convert USDT balances to USD and create bridge deposits metric
- **Logic**: Apply USD conversion using end-of-day USDT price feeds and correct for USDT's 6 decimal places to get proper USD amounts. The corrected USD balance represents the total value of bridge deposits. Apply forward-fill strategy to ensure continuous time series data, filling any missing days with the last known value.
- **Key fields**: `timestamp`, `timestamp_grain` (day), `chain_id` (ethereum), `bridge_deposits` (USD value), `product_id` (null)

### Final aggregation
- **Combining components**: The TVL metric directly uses the bridge deposits value, treating bridge deposits as equivalent to total value locked in the protocol
- **Currency conversion**: USD conversion is applied using end-of-day USDT price feeds with decimal correction for USDT's 6-decimal precision
- **Time aggregation**: Daily boundaries with forward-fill strategy for bridge deposits to handle missing data points, then zero-fill strategy for final TVL to ensure complete time series
- **Final calculation**: TVL equals the USD value of USDT held in GRVT's L1NativeTokenVault contract, representing the total value of user deposits bridged to the protocol

*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.

GRVT

Total value locked

Total value locked

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