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# Hyperbridge Transfer volume Methodology

## 1. Overview

Transfer volume measures the daily USD value of assets moved through the Hyperbridge cross-chain bridge protocol. Bridge activity is captured across both EVM-compatible chains and the Bifrost parachain for the Hyperbridge App. Transactions containing Hyperbridge protocol events are identified and the USD value of all asset transfers within those transactions is summed, providing insight into cross-chain liquidity flow and bridge utilization.

## 2. Data sources

- **Blockchain events**: `PostRequestEvent`, `GetRequestEvent`, `GetRequestHandled`, `PostRequestHandled`, and `PostRequestTimeoutHandled` events from `Host` contracts, ERC-20 `Transfer` events, `Transfer` events from the Bifrost tokens pallet, ISMP protocol `Request`, `PostRequestHandled`, and `PostRequestTimeoutHandled` events, and `Minted` events from the vtokenMinting pallet, covering Ethereum, Arbitrum, Base, BSC, and 5 other chains
- **External data**: End-of-day price feeds and asset metadata for Bifrost and EVM assets
- **Internal denylist**: Transaction-level denylist used to filter phantom transfers on Base

## 3. Step-by-step calculation

### Component A: EVM asset transfer identification and processing

- **Purpose**: Captures asset transfers occurring within Hyperbridge bridge transactions across EVM chains
- **Logic**: Transactions containing Hyperbridge protocol events (`PostRequestEvent`, `GetRequestEvent`, `GetRequestHandled`, `PostRequestHandled`, and `PostRequestTimeoutHandled`) from `Host` contracts are identified across eight EVM chains. All ERC-20 `Transfer` events occurring within these same transactions on the same day are then extracted. Transactions identified as containing phantom transfers—specifically those on Base where relay metadata is encoded in the amount field—are excluded using a transaction-level denylist. Processing is split into two paths: regular assets are processed using standard asset metadata lookup, while specific assets (BNC, ASTR, DOT, vDOT, vASTR, GLMR, vGLMR, vBNC) are processed using hardcoded asset mappings with predefined addresses and decimal specifications.
- **Key fields**: `amount` (transfer quantities), `token_address` (asset identification), `transaction_hash` (transaction linking), `chain` (network classification)

### Component B: Bifrost parachain transfer processing

- **Purpose**: Processes asset transfers from the Bifrost parachain that occur during bridge operations
- **Logic**: Blocks containing ISMP protocol events (`Request`, `PostRequestHandled`, `PostRequestTimeoutHandled`) are identified starting from January 27, 2025. Asset `Transfer` events are extracted from the same blocks and Bifrost asset IDs are mapped to asset metadata using hardcoded definitions. For voucher assets (vTokens), daily price conversion ratios are applied. These ratios are calculated from vtokenMinting `Minted` events, which provide the exchange rate between the underlying asset and its voucher representation.
- **Key fields**: `amount` (transfer quantities), `currency_key` and `currency_index` (asset identification), `vtoken_price_ratio` (conversion factor)

### Component C: Voucher asset price ratio calculation

- **Purpose**: Determines daily exchange rates between Bifrost voucher assets and their underlying assets
- **Logic**: `Minted` events from the vtokenMinting pallet are analyzed to extract the asset amount and voucher asset amount for each minting transaction. The daily average ratio of `token_amount` divided by `v_token_amount` is calculated for each currency. Missing dates are forward-filled to ensure continuous price coverage for voucher asset conversions.
- **Key fields**: `token_amount` and `v_token_amount` (minting quantities), `vtoken_price_ratio` (derived exchange rate)

### Component D: Final aggregation and USD conversion

- **Purpose**: Combine components and normalize to USD
- **Logic**: EVM transfer volumes and Bifrost parachain transfer volumes are combined after both have been processed and converted to USD. All asset amounts are normalized by decimal precision and converted to USD using end-of-day price feeds. EVM assets are processed using either standard asset metadata lookups or specific asset mappings, while Bifrost assets are converted exclusively using end-of-day price feeds. Data is aggregated to daily granularity using day-truncated timestamps. Final transfer volumes are summed by day, chain, and product (Hyperbridge App).

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

Total value of assets moved across chains through a bridge.

HyperbridgeBRIDGE

Archived

Transfer volume

Transfer volume

Competitive landscape

Chain breakdown