Honeypop is an AMM and concentrated liquidity layer on Scroll, built for efficient swaps and real yield. It will also feature a Morpho-powered money market, enabling seamless lending and borrowing.

twitter

website

Exchanges (DEX)

Honeypop

# Honeypop Total value locked Methodology

## 1. Overview

Total Value Locked (TVL) for Honeypop measures the total USD value of assets deposited in the protocol's liquidity pools. This metric answers the business question: "How much capital is currently locked in Honeypop's decentralized exchange?" The calculation approach derives TVL from net deposits by tracking all asset flows into and out of trading pairs, including liquidity provision, withdrawals, trades, and flash loan fees, then converting these flows to USD and maintaining a cumulative balance.

## 2. Data sources

The TVL calculation uses several types of blockchain and external data:

- **Honeypop pool events**: Parsed Scroll blockchain events from Honeypop v1 pools including `Pool_Mint` (liquidity deposits), `Pool_Collect` (liquidity withdrawals), `Pool_Swap` (trades), and `Pool_Flash` (flash loans)
- **Factory events**: Parsed `Factory_PoolCreated` events from Scroll that define valid trading pairs with token addresses and fee tiers
- **Transaction data**: Scroll transaction records to link pool events to user addresses
- **External data**: End-of-day token price feeds for USD conversion and token metadata including decimals and symbols for proper amount calculations

## 3. Step-by-step calculation

### Component A: Trading pair identification
- **Purpose**: Identifies all valid Honeypop trading pairs and their characteristics
- **Logic**: Extracts pool addresses, token pairs, and fee tiers from `Factory_PoolCreated` events on Scroll. Joins with token metadata to get decimals and symbols for both tokens in each pair. Creates trading pair names by concatenating token symbols with a hyphen. Excludes any denylisted trading pairs (currently none configured).
- **Key fields**: `account_address` (pool address), `token0_address`, `token1_address`, `fee_tier`, `token0_decimals`, `token1_decimals`, `account_name`

### Component B: Deposit tracking
- **Purpose**: Captures liquidity provider deposits into pools
- **Logic**: Extracts `Pool_Mint` events from Scroll blockchain, capturing `amount0` and `amount1` values representing tokens deposited. Filters out any denylisted trading pairs. Records block timestamp, transaction hash, and pool address for each deposit event.
- **Key fields**: `token0_amount`, `token1_amount`, `account_address`, `block_timestamp`

### Component C: Withdrawal tracking  
- **Purpose**: Captures liquidity provider withdrawals from pools
- **Logic**: Extracts `Pool_Collect` events from Scroll blockchain, capturing `amount0` and `amount1` values representing tokens withdrawn. These amounts are negated to represent outflows. Filters out any denylisted trading pairs.
- **Key fields**: `token0_amount` (negated), `token1_amount` (negated), `account_address`, `block_timestamp`

### Component D: Trade impact tracking
- **Purpose**: Captures token amount changes from trading activity
- **Logic**: Extracts `Pool_Swap` events from Scroll blockchain, capturing `amount0` and `amount1` values representing net token changes from swaps. Links swap events to user addresses via transaction data. Excludes denylisted trading pairs.
- **Key fields**: `token0_amount`, `token1_amount`, `account_address`, `contract_user_address`, `user_address`

### Component E: Flash loan fee tracking
- **Purpose**: Captures protocol revenue from flash loans as part of TVL
- **Logic**: Extracts `Pool_Flash` events from Scroll blockchain, then multiplies flash loan amounts by the pool's fee tier to calculate protocol fees retained. Links flash loan events to user addresses via transaction data. Excludes denylisted trading pairs.
- **Key fields**: `token0_amount` (multiplied by `fee_tier`), `token1_amount` (multiplied by `fee_tier`)

### Component F: Asset flow aggregation
- **Purpose**: Combines all asset flows and prepares for calculation
- **Logic**: Unions deposits (positive), withdrawals (negative), trades, and flash loan fees into a single asset flow table. Truncates timestamps to daily level and groups by day, chain, and pool address. Joins with trading pair metadata to get token addresses and decimals. Corrects token amounts by dividing by 10^decimals for each token.
- **Key fields**: `timestamp` (daily), `token0_amount` (decimal-corrected), `token1_amount` (decimal-corrected), `token0_address`, `token1_address`

### Component G: Net deposits calculation
- **Purpose**: Calculates cumulative net deposits for each token in each pool
- **Logic**: Applies cumulative sum logic to daily asset flows, maintaining running balances of token amounts in each pool over time. This creates a time series of net deposits for each token in each trading pair.
- **Key fields**: `token0_amount` (cumulative), `token1_amount` (cumulative)

### Final aggregation
- **Combining components**: Net deposits for both tokens in each pool are converted to USD by joining with end-of-day token price feeds. The USD values are summed together (`token0_value_usd + token1_value_usd`) to get total net deposits per pool.
- **Currency conversion**: Uses end-of-day price feeds to convert token amounts to USD. If price data is unavailable for a token, the value defaults to zero.
- **Time aggregation**: Data is aggregated at daily level with timestamps truncated to day boundaries. The calculation maintains cumulative balances over time.
- **Final calculation**: TVL equals the sum of net deposits across all pools, where net deposits represent the cumulative USD value of all asset inflows minus outflows, including liquidity provision, withdrawals, trading impacts, and flash loan fees.

*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.

Honeypop

Total value locked

Total value locked

Competitive landscape