# Venus Flux Active loans Methodology

## 1. Overview

Active loans measures the total value of assets currently borrowed by users from Venus Flux. It represents the portion of total deposits that are actively utilized and generating interest for the protocol. This metric is a key indicator of capital efficiency and the protocol's ability to generate revenue from its lending markets.

## 2. Data sources

- **Blockchain events**: `get_overall_tokens_data` state calls from liquidity resolver contracts, covering BNB Chain
- **External data**: End-of-day price feeds for borrowed assets and asset metadata for decimal precision

## 3. Step-by-step calculation

### Component A: State data extraction

- **Purpose**: Retrieve the total outstanding debt for all supported lending markets.
- **Logic**: Data is parsed from `get_overall_tokens_data` state calls emitted by liquidity resolver contracts. The `total_borrow` field is extracted from the JSON-encoded output for each asset. Asset addresses are normalized to ensure consistency, including the mapping of native gas assets to their wrapped equivalents on BNB Chain.
- **Key fields**: `total_borrow` (raw borrow amount), `token_address` (asset identification), `timestamp` (event timing)

### Component B: Active loan normalization

- **Purpose**: Filter and prepare raw debt values for valuation.
- **Logic**: Extracted borrow amounts are filtered to exclude any negative values resulting from asset-specific rebasing or accounting adjustments. The raw values are then normalized by the decimal precision associated with each specific asset metadata.
- **Key fields**: `total_borrow` (raw amount), `decimals` (asset precision)

### Component C: USD conversion and forward-filling

- **Purpose**: Calculate the final USD value and ensure data continuity.
- **Logic**: Normalized borrow amounts are multiplied by end-of-day price feeds to calculate the total active loans in USD. Because state calls may not occur every day for every asset, values are forward-filled to maintain a continuous daily time series. The final values are aggregated at a daily granularity using UTC day boundaries.
- **Key fields**: `price_usd` (asset price), `timestamp` (date aggregation)

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

Value of loans currently outstanding to borrowers.

Active loans

Lending

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.

Venus Flux

Active loans

Active loans

Chain breakdown