Lenders deposit assets into HyperLend and earn interest paid by borrowers (supply-side fees); the protocol keeps a share of that interest as revenue, set per reserve by the reserve factor.

HyperLend is a non-custodial lending protocol on HyperEVM. Core Pools are an Aave v3.2 friendly fork (pooled lending); Isolated Pools are a FraxLend v3 fork (isolated pair markets).

HPL tokenholders own and govern HyperLend, the credit and liquidity layer for the Hyperliquid ecosystem.

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HyperLend

# HyperLend Treasury Methodology

## 1. Overview

Treasury is measured as the total value of assets held in the HyperLend onchain treasury. The financial resources controlled by the protocol to fund operations, reward contributors, or invest in growth are reflected by this metric. Treasury assets are held in the HyperLend Collector contract and are converted to USD.

## 2. Data sources

- **Blockchain events**: ERC-20 token transfer events associated with the HyperLend Collector contract (`0xa9a7e0e91689c49bf9f2a15a768caebba6a5eec5`), covering HyperEVM
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Token net flow extraction

- **Purpose**: Capture daily net changes in token balances for the treasury address
- **Logic**: Daily token net flows are extracted for the HyperLend Collector contract address (`0xa9a7e0e91689c49bf9f2a15a768caebba6a5eec5`) on HyperEVM. These flows are derived from ERC-20 token transfer events. Native asset flows are excluded from the calculation because the Collector contract does not hold native HYPE assets.
- **Key fields**: `timestamp`, `account_address`, `token_address`, `value`

### Component B: Cumulative balance calculation and forward-filling

- **Purpose**: Calculate the continuous daily balance of each asset held in the treasury
- **Logic**: Daily net flows are aggregated cumulatively over time to determine the running balance of each asset. To ensure daily continuity, balances are filled forward for days where no transfer events occur, maintaining the last known balance until a new transfer event is recorded.
- **Key fields**: `timestamp`, `token_address`, `balance`

### Component C: USD conversion and aggregation

- **Purpose**: Convert asset balances to USD and aggregate the total treasury value
- **Logic**: Daily asset balances are normalized by decimal precision and multiplied by end-of-day asset prices. The resulting USD values are summed across all assets to calculate the total daily treasury value. Daily granularity is maintained using UTC day boundaries.
- **Key fields**: `timestamp`, `balance`, `price_usd`, `treasury`

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

Total value of a project's onchain treasury, including its native token.

HyperLendHPL

Treasury

Treasury

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