Fluid acts as a lending, vault, and DEX platform for seamless DeFi interaction.

Fluid is a non-custodial lending, vaults, and DEX protocol built by Instadapp. Instadapp was founded by Samyak Jain & Sowmay Jain and launched in 2018.

FLUID tokenholders own and govern the protocol. They currently earn a cut of the fees generated through Fluid lending, vault and DEX services. Instadapp's investors include Coinbase Ventures, Pantera Capital, Robot Ventures, etc.

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# Fluid Treasury (net) Methodology

## 1. Overview

Treasury net measures the total USD value of cryptocurrency assets held across Instadapp's treasury addresses on multiple blockchain networks. This metric provides a comprehensive view of Instadapp's on-chain treasury holdings by tracking token balances across Arbitrum, Avalanche, Ethereum, Optimism, and Polygon networks. The calculation aggregates all token positions held in designated treasury addresses, excludes specific tokens where necessary, converts to USD using end-of-day prices, and presents the data as a daily time series.

## 2. Data sources

- **Token transfer events**: Parsed `Transfer` events from Arbitrum, Avalanche, Ethereum, Optimism, and Polygon networks to track token movements in and out of treasury addresses
- **Token balance data**: Current and historical token balance snapshots for tracked treasury addresses across all supported chains
- **Price feeds**: End-of-day token price feeds for USD conversion of all held assets
- **Token metadata**: Token contract information including decimal precision, symbols, and contract addresses for proper balance calculation
- **Chain data**: Transaction and block data from supported networks to ensure accurate timestamp attribution

## 3. Step-by-step calculation

### Component A: Portfolio configuration
- **Purpose**: Define the scope of treasury addresses and token exclusions for each blockchain network
- **Logic**: The calculation tracks specific treasury addresses across five networks: three addresses on Ethereum (`0x1d29756e8f7b091ce6c11a35980de79c7eda5d1f`, `0x28849d2b63fa8d361e5fc15cb8abb13019884d09`, `0x264786ef916af64a1db19f513f24a3681734ce92`), one address each on Arbitrum (`0xf81ab897e3940e95d749ff2e1f8d38f9b7cbe3cf`), Avalanche (`0xe06d0b1752e60687c0ea5abbe006d3368fdcdcc1`), Optimism (`0xdaf12965b3d5bf60843aa1fb49e2688919e697a0`), and Polygon (`0x6e9d36eaec63bc3ad4a47fb0d7826a9922aafc22`). Certain tokens are excluded from the calculation: `0x6f40d4a6237c257fff2db00fa0510deeecd303eb` on Ethereum and `0xf50d05a1402d0adafa880d36050736f9f6ee7dee` on Polygon
- **Key fields**: `account_addresses` for each chain, `excluded_token_addresses` where applicable

### Component B: Portfolio balance calculation
- **Purpose**: Calculate current and historical token balances for all configured treasury addresses
- **Logic**: For each treasury address on each chain, the system tracks all token holdings by analyzing transfer events and maintaining balance snapshots. The calculation processes `Transfer` events to determine net token flows for each address, accounting for both incoming and outgoing transfers. Token balances are normalized using the token's decimal precision to convert from raw blockchain units to standard token amounts. Excluded tokens are filtered out during this process based on the configuration
- **Key fields**: `timestamp` for time series tracking, `chain` for network identification, `balance` representing the USD value of holdings, `token_address` for asset identification

### Component C: Treasury aggregation
- **Purpose**: Sum all individual token balances across addresses and chains to calculate total treasury value
- **Logic**: All portfolio balances are aggregated by timestamp and chain, summing the USD value of all token holdings. This creates a total treasury value for each chain on each day, combining balances from all configured treasury addresses while respecting token exclusions
- **Key fields**: `timestamp` for daily aggregation, `chain_id` for network identification, `treasury_net` as the summed USD value

### Final aggregation
- **Combining components**: The system combines portfolio calculations across all chains and addresses, summing USD values to create a comprehensive treasury snapshot
- **Currency conversion**: Token balances are converted to USD using end-of-day price feeds, with decimal normalization applied to ensure accurate conversions across different token standards
- **Time aggregation**: Data is aggregated daily using timestamp boundaries, with a fill-zeros strategy applied to ensure continuous time series data
- **Final calculation**: The final treasury net value represents the sum of all token holdings across all configured treasury addresses on all supported chains, minus any excluded tokens, converted to USD and aggregated by day and chain

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

Total value of a project's treasury excluding its native token.

FluidFLUID

Treasury (net)

Treasury (net)

Competitive landscape

Chain breakdown