Stakers use Liquid Collective to deposit funds into Ethereum’s deposit contract and mint a liquid staking token, LsETH. In return stakers receive staking rewards (supply-side fees).

Liquid Collective is a non-custodial staking protocol launched on Ethereum. Liquid Collective is built and run by a collective of leading web3 teams. The protocol was initially launched in 2023.

Liquid Collective is stewarded by an independent industry consortium, with initial members that include The Liquid Foundation, Alluvial, Kiln, Figment, Coinbase, Coinbase Cloud, Kraken, Staked, and other web3 participants. Liquid Collective will be governed in a decentralized manner by a broad and dispersed community of industry participants.

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# Liquid Collective Assets staked Methodology

## 1. Overview

Assets staked measures the total value of ETH deposited and actively staked through the LiquidCollective liquid staking protocol. This metric represents the cumulative USD value of all ETH that users have deposited into the protocol for staking purposes. The calculation tracks the protocol's total underlying ETH balance over time, providing insight into the protocol's growth and total value locked in staking operations.

## 2. Data sources

- **Blockchain events**: LiquidCollective `RewardsEarned` events from the RiverV1 contract on Ethereum, which contain the total underlying ETH balance
- **External data**: End-of-day token price feeds for WETH to enable USD conversion
- **Token metadata**: WETH token decimal precision data for proper amount calculations

## 3. Step-by-step calculation

### Component A: Balance updates extraction
- **Purpose**: Capture the total underlying ETH balance from LiquidCollective protocol events
- **Logic**: Extract balance data from `RewardsEarned` events emitted by the RiverV1 contract. Each event contains a `newTotalUnderlyingBalance` field representing the total ETH staked in the protocol at that point in time. The data includes transaction metadata like block timestamp, transaction hash, and log index for proper event ordering and deduplication.
- **Key fields**: `newTotalUnderlyingBalance` (total ETH staked), `block_timestamp` (event timing), `address` (protocol contract), token address set to WETH address

### Component B: Net deposits calculation  
- **Purpose**: Transform raw balance updates into daily net deposit amounts in USD
- **Logic**: Process the balance updates by truncating timestamps to daily boundaries to create daily snapshots. Convert raw ETH amounts to USD using end-of-day price feeds and apply proper decimal correction for WETH (18 decimals). The balance amounts represent the net deposits (total staked amount) at each point in time.
- **Key fields**: `timestamp` (daily boundary), `net_deposits` (USD value of total staked ETH), `chain_id` (ethereum), `token_address` (WETH)

### Final aggregation
- **Combining components**: Sum the net deposits across all time periods to calculate the total assets staked
- **Currency conversion**: ETH amounts are converted to USD using end-of-day WETH price feeds with proper 18-decimal precision handling
- **Time aggregation**: Daily time boundaries are maintained, with forward-fill strategy applied to handle any missing data points in the net deposits calculation
- **Final calculation**: The assets staked metric represents the summed net deposits, which corresponds to the total USD value of ETH staked in the LiquidCollective protocol. A zero-fill strategy is applied for any missing periods in the final metric to ensure complete time series data.

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

Value of assets staked or restaked through the project.

Liquid Collective

Assets staked

Assets staked

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