Collators aggregate parachain transactions block candidates and producing state transition proofs for validators based on those blocks.

Hydration is a Polkadot parachain specialized in trading, lending, and stablecoin issuance.

HDX holders own and govern the protocol. Hydration’s investors include KR1 plc, Hypersphere, etc.

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Hydration

# Hydration Staking market cap Methodology

## 1. Overview

Staking market cap measures the total value of native assets currently locked within the Hydration Substrate staking system to secure the network. It represents the economic weight supporting the protocol's security and consensus. This metric reflects the aggregate value of capital committed by stakers to Hydration Substrate, converted to USD using end-of-day price feeds.

## 2. Data sources

- **Blockchain events**: `PositionCreated`, `StakeAdded`, and `Unstaked` events from the `staking` pallet, covering Hydration Substrate
- **External data**: End-of-day price feeds for native assets

## 3. Step-by-step calculation

### Component A: Staking event extraction

- **Purpose**: Identify and quantify all deposits and withdrawals from the staking system
- **Logic**: `PositionCreated`, `StakeAdded`, and `Unstaked` events are parsed from the `staking` pallet. The staked amount is extracted from the event data for each transaction. For `Unstaked` events, the value is treated as a negative integer to represent a reduction in the total staked supply. All amounts are normalized by decimal precision.
- **Key fields**: `event_pallet`, `event_method`, and `event_data`

### Component B: Cumulative balance aggregation

- **Purpose**: Calculate the total running balance of staked assets over time
- **Logic**: Daily net changes (the sum of additions from new positions or added stakes minus unstaked amounts) are aggregated. These daily changes are then combined with the previous day's cumulative balance to maintain a continuous running total. A fill-forward mechanism is applied to ensure data continuity for days where no on-chain staking events occur.

### Component C: USD normalization and valuation

- **Purpose**: Convert the native asset balances into a standardized USD market cap
- **Logic**: The cumulative native asset balance is multiplied by end-of-day price feeds for the native Hydration asset. Values are calculated with daily granularity using UTC day boundaries to produce the final staking market cap.

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

Value of native tokens currently staked to secure a proof-of-stake network.

HydrationHDX

Staking market cap

Staking market cap

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