# Hyperbridge App Transfer volume Methodology

## 1. Overview

Transfer volume measures the total value of assets moved across chains using the Hyperbridge App. This metric captures the economic activity facilitated by the protocol's cross-chain messaging and liquidity routing infrastructure. Cross-chain activity is quantified by identifying bridge requests and their associated asset transfers, serving as a primary indicator of the protocol's adoption and its capacity to generate protocol fees.

## 2. Data sources

- **Blockchain events**: `PostRequestEvent`, `GetRequestEvent`, `GetRequestHandled`, `PostRequestHandled`, and `PostRequestTimeoutHandled` events from `Host` contracts, `Request`, `PostRequestHandled`, and `PostRequestTimeoutHandled` events from the `ismp` pallet, and ERC-20 `Transfer` events, covering Arbitrum, Base, BSC, Ethereum, Gnosis, and 4 other chains.
- **External data**: End-of-day price feeds and asset metadata.

## 3. Step-by-step calculation

### Component A: EVM cross-chain request identification

- **Purpose**: Identify transaction contexts involving cross-chain requests on EVM-compatible networks.
- **Logic**: Cross-chain interactions are identified by parsing `PostRequestEvent`, `GetRequestEvent`, `GetRequestHandled`, `PostRequestHandled`, and `PostRequestTimeoutHandled` events from `Host` contracts (such as `ArbitrumHost`, `BaseHost`, and `EthereumHost`). These events serve as the anchor for identifying the specific transactions where assets are being moved across the bridge.
- **Key fields**: `transaction_hash`, `block_timestamp`.

### Component B: EVM asset transfer extraction

- **Purpose**: Capture the specific assets and quantities moved in bridge transactions.
- **Logic**: Transaction hashes identified in the request phase are joined with ERC-20 `Transfer` events. Only transfers within the same transaction hash as the bridge request events are included. This association allows for the extraction of asset addresses and the raw quantities of assets transferred. Transactions identified as containing phantom transfers, where transfer amounts represent relay metadata rather than economic value, are filtered out using a denylist of specific transaction hashes.
- **Key fields**: `token_address`, `amount_sent`.

### Component C: Parachain request and transfer tracking

- **Purpose**: Capture cross-chain activity occurring on Bifrost Polkadot.
- **Logic**: Activity is tracked by filtering events from the `ismp` pallet, specifically targeting `Request`, `PostRequestHandled`, and `PostRequestTimeoutHandled` methods. These events are joined with asset `Transfer` events from the `tokens` pallet occurring within the same block and index. This logic identifies movements of native and wrapped assets across Substrate-based infrastructure.
- **Key fields**: `currency_key`, `currency_index`, `amount`.

### Component D: Bifrost vToken price ratio calculation

- **Purpose**: Ensure accurate valuation for liquid staking assets on Bifrost.
- **Logic**: A price conversion ratio is calculated for vTokens (such as vDOT or vASTR) by parsing `Minted` events from the `vtokenMinting` pallet. The ratio is determined by dividing the underlying asset amount by the minted vToken amount. These ratios are averaged daily and applied to parachain transfers to normalize the value of liquid staking assets relative to their underlying collateral.
- **Key fields**: `token_amount`, `v_token_amount`.

### Component E: Normalization and USD conversion

- **Purpose**: Standardize values across different chains and assets for aggregate reporting.
- **Logic**: Asset amounts are normalized by decimal precision using asset metadata. For Bifrost-specific assets, a hardcoded mapping is used to associate internal token IDs with canonical asset identifiers. All normalized quantities are multiplied by end-of-day price feeds to determine the USD value. Daily totals are aggregated per chain and product using UTC day boundaries.
- **Key fields**: `decimals`, `price_usd`.

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

Total value of assets moved across chains through a bridge.

Transfer volume

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Transfer volume

Transfer volume

Chain breakdown