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Lending

JustLend DAO

# JustLend DAO Active loans Methodology

## 1. Overview

Active loans measures the total value of outstanding assets lent out to borrowers from JustLend Markets. The portion of deposits that borrowers pay interest on is tracked, which directly correlates with the protocol's ability to generate interest fees and revenue. Capital utilization and credit demand within the JustLend DAO ecosystem are represented by this metric.

## 2. Data sources

- **Blockchain events**: `AccrueInterest`, `Borrow`, and `RepayBorrow` events from `CErc20Delegator` and `CEther` contracts, covering Tron
- **External data**: End-of-day price feeds for underlying assets and native gas assets

## 3. Step-by-step calculation

### Component A: Borrow balance extraction

- **Purpose**: Extract the total outstanding borrow balances from market events.
- **Logic**: `AccrueInterest`, `Borrow`, and `RepayBorrow` events are parsed from `CErc20Delegator` and `CEther` contracts on Tron. The total borrow balance is extracted from the `totalBorrows` field of each event. The latest event per market is retained for each transaction to capture the most up-to-date borrow state.
- **Key fields**: `totalBorrows` (outstanding borrow amount), `market_address` (market identifier)

### Component B: Daily balance aggregation and forward-filling

- **Purpose**: Establish a continuous daily record of active loans per market.
- **Logic**: The last recorded borrow balance of each day is selected for each market. On days where no borrow, repayment, or interest accrual events occur, the last known borrow balance is carried forward to ensure continuous daily coverage.
- **Key fields**: `timestamp` (daily interval), `borrows` (daily borrow balance)

### Component C: Decimal normalization and USD conversion

- **Purpose**: Convert raw borrow balances into USD values.
- **Logic**: Raw borrow balances are normalized by the decimal precision of each market's underlying asset. Normalized balances are then multiplied by end-of-day asset prices. For native TRX, native token prices are applied, while other assets are priced using end-of-day price feeds.
- **Key fields**: `underlying_decimals` (asset precision), `price_usd` (asset price)

### Component D: Final aggregation

- **Purpose**: Aggregate active loans at the project level.
- **Logic**: Daily USD-denominated active loan values are summed across all active markets to produce the total active loans metric for JustLend DAO.
- **Key fields**: `active_loans` (aggregated USD value)

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

Value of loans currently outstanding to borrowers.

JustLend DAOJST

Active loans

Active loans

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