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JPYC EX

# JPYC EX Total value locked Methodology

## 1. Overview

JPYCoin TVL measures the total value locked in the Japanese Yen Stablecoin stablecoin protocol by calculating the outstanding supply of Japanese Yen Stablecoin tokens across all supported chains. Since Japanese Yen Stablecoin is a stablecoin backed by reserves, the outstanding supply represents the total value of tokens in circulation and directly corresponds to the protocol's TVL. The calculation tracks mint and burn events across Ethereum, Polygon, and Avalanche to determine the net supply of Japanese Yen Stablecoin tokens, then converts this to USD value.

## 2. Data sources

The calculation relies on several key data sources:
- **ERC20 token transfer events**: Parsed `Transfer` events from Ethereum, Polygon, and Avalanche blockchains for the Japanese Yen Stablecoin token contract (`0xe7c3d8c9a439fede00d2600032d5db0be71c3c29`)
- **Token metadata**: Information about token decimals and symbols for proper unit conversion
- **End-of-day price feeds**: USD price data for accurate currency conversion of the outstanding token supply
- **Blockchain transaction data**: Block timestamps and transaction hashes from the underlying blockchain networks for temporal organization

## 3. Step-by-step calculation

### Component A: Japanese Yen Stablecoin mint event extraction
- **Purpose**: Identifies when new Japanese Yen Stablecoin tokens are created (minted) across all supported chains
- **Logic**: Extracts `Transfer` events from Ethereum, Polygon, and Avalanche where the `from_address` equals the null address (`0x0000000000000000000000000000000000000000`). This pattern indicates token creation since tokens are transferred "from" the zero address. Events are filtered to only include the specific Japanese Yen Stablecoin token contract address and exclude removed/invalid transactions. Each mint event captures the recipient address, transaction details, and token amount.
- **Key fields**: `block_timestamp`, `transaction_hash`, `log_index`, `to_address`, `value` (token amount), `token_address`, and `chain` identifier

### Component B: Japanese Yen Stablecoin burn event extraction  
- **Purpose**: Identifies when Japanese Yen Stablecoin tokens are destroyed (burned) across all supported chains
- **Logic**: Extracts `Transfer` events where the `to_address` equals either the null address (`0x0000000000000000000000000000000000000000`) or the dead address (`0x000000000000000000000000000000000000dead`). This pattern indicates token destruction since tokens are transferred "to" addresses that effectively remove them from circulation. Uses the same filtering criteria as mints for token contract and transaction validity.
- **Key fields**: Same as mint events - `block_timestamp`, `transaction_hash`, `log_index`, `from_address`, `value`, `token_address`, and `chain`

### Component C: Daily net flow calculation
- **Purpose**: Combines mint and burn events to calculate daily net changes in token supply
- **Logic**: Unions mint events (with positive `amount`) and burn events (with negative `amount`) into a single dataset. Events are grouped by day using `timestamp_trunc` to aggregate all same-day activities. Daily net flows are calculated by summing all mint and burn amounts for each day and chain combination.
- **Key fields**: Daily `timestamp`, `chain`, protocol metadata (`business_line`, `market_sector_id`, etc.), and net daily `amount`

### Component D: Decimal correction and grouping
- **Purpose**: Converts raw token amounts to proper decimal representation and aggregates daily totals
- **Logic**: Applies the `correct_decimals` macro using token metadata to convert raw transfer values (typically in wei-equivalent units) to human-readable token amounts. Groups corrected amounts by day, chain, and token to produce clean daily net flows. This ensures consistent unit representation across different chains and tokens.
- **Key fields**: Corrected daily `amount`, `token_symbol`, and all grouping dimensions

### Component E: Cumulative outstanding supply calculation
- **Purpose**: Calculates running total of tokens in circulation over time
- **Logic**: Applies a cumulative sum using window functions, partitioned by chain and token address, ordered by timestamp. This transforms daily net flows into running outstanding supply totals. Each day's outstanding supply equals the previous day's supply plus the current day's net flow (mints minus burns).
- **Key fields**: `outstanding_supply` as the running cumulative total

### Component F: Time series completion
- **Purpose**: Ensures continuous daily time series without gaps
- **Logic**: Uses `fill_forward` macro to propagate the most recent outstanding supply value to any missing dates. This creates a complete daily time series where each day has an outstanding supply value, either from actual activity or forward-filled from the last known value.
- **Key fields**: Gap-filled `outstanding_supply` with complete date coverage

### Final aggregation
- **Combining components**: The outstanding supply calculation flows through a single pipeline rather than combining separate components. The process transforms raw transfer events into cumulative supply totals.
- **Currency conversion**: Outstanding supply values are converted to USD using end-of-day price feeds via the `convert_to_usd_and_correct_decimals` macro. This applies appropriate exchange rates based on the calculation date.
- **Time aggregation**: All calculations operate on daily boundaries, with events grouped by day using timestamp truncation to the day level.
- **Final calculation**: TVL equals the USD value of outstanding Japanese Yen Stablecoin supply. The `finalize_metric_tvl` macro applies standardized schema formatting, validates identifiers, and implements a "fill_zeros" strategy for any remaining gaps. Chain availability filters exclude unsupported chains like TON from the final results.

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

Total value locked (TVL)

Total value locked (TVL) — value deposited into the project's applications.

JPYC EX

Total value locked

Total value locked

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