# Katana Perps Total value locked Methodology

## 1. Overview

Total value locked is measured as the total value of assets deposited as collateral on Katana Perps. Specifically, the cumulative USDC collateral held by the Exchange contracts as user margin is quantified. This metric is utilized as a key indicator of the liquidity available for trading and the overall adoption of the perpetual exchange.

## 2. Data sources

- **Blockchain events**: `Deposited` and `Withdrawn` events from `Exchange` contracts (V1 and V2), covering Katana Network

## 3. Step-by-step calculation

### Component A: Katana Perps collateral flow extraction

- **Purpose**: Capture daily deposit and withdrawal flows of USDC collateral
- **Logic**: `Deposited` and `Withdrawn` events are parsed from V1 and V2 `Exchange` contracts. Deposit quantities are treated as positive inflows, while withdrawal quantities are treated as negative outflows. All collateral amounts are normalized by decimal precision to represent their USD value.
- **Key fields**: `quantity` (collateral amount), `wallet` (depositor or withdrawer address), `exchange_address` (contract address)

### Component B: Daily net flow aggregation

- **Purpose**: Calculate the net change in collateral on a daily basis
- **Logic**: Normalized deposit and withdrawal flows are aggregated by day. The daily net flow is calculated as the sum of all inflows and outflows within each UTC day boundary.
- **Key fields**: `block_timestamp` (timing), `quantity` (collateral amount)

### Component C: Cumulative net deposits and TVL calculation

- **Purpose**: Determine the total cumulative collateral locked in the protocol
- **Logic**: The daily net flows are summed cumulatively over time to calculate the total net deposits. A fill-forward strategy is applied so that on days with no deposit or withdrawal activity, the prior day's cumulative balance is carried forward. This cumulative net deposit balance is designated as the total value locked for Katana Perps.
- **Key fields**: `daily_net_flow` (daily net change), `net_deposits` (cumulative balance)

*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.

Total value locked

Derivative exchanges

The network uses pessimistic proofs via the AgglayerGateway for settlement on Ethereum, with vault bridges for cross-chain asset transfers.

Katana Network provides a scalable execution environment connected to Ethereum through the Agglayer interoperability layer.

Katana Perps

Total value locked

Total value locked

Chain breakdown