Creators & users sell NFTs on LooksRare. They receive royalties from secondary sales (supply-side fees).

LooksRare is a non-custodial NFT marketplace protocol built on Ethereum and launched in 2022.

LOOKS tokenholders own and govern the protocol. They currently take a cut of the total transaction fees paid by buyers (revenue).

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LooksRare

# LooksRare Treasury Methodology

## 1. Overview

The LooksRare treasury metric measures the total USD value of all tokens held in LooksRare's official treasury addresses. This metric provides insight into the protocol's financial reserves and asset management by tracking the cumulative value of all tokens across designated treasury wallets. The calculation processes daily balance changes from blockchain events and converts token holdings to USD values using end-of-day pricing data.

## 2. Data sources

- **Ethereum ERC-20 Transfer events**: Parsed `Transfer` events from Ethereum blockchain to track token movements in and out of treasury addresses
- **Ethereum native ETH transfer events**: Native ETH transfers and balance changes for the treasury addresses
- **End-of-day token price feeds**: Daily USD price data for all tokens held in treasury addresses
- **Token metadata**: Token symbols, decimal places, and contract information for proper balance calculations

## 3. Step-by-step calculation

### Component A: Treasury balance changes tracking
- **Purpose**: Identifies and processes all token movements affecting LooksRare treasury addresses
- **Logic**: The system monitors two specific Ethereum addresses (0x6757f73cddf4c16171281ff869e620c6ce30e12b and 0xc8c57e4c73c71f72ca0a7e043e5d2d144f98ef13) for any token transfers. It processes parsed `Transfer` events where these addresses appear as either sender or recipient, calculating the net balance change for each token on each day. For incoming transfers, the balance increases; for outgoing transfers, it decreases. The calculation accounts for token decimals and applies appropriate scaling to determine actual token amounts.
- **Key fields**: `account_address` (treasury wallet), `token_address` (specific token contract), `balance` (net daily change), `timestamp` (event date), `chain_id` (Ethereum identifier)

### Component B: Cumulative balance calculation
- **Purpose**: Transforms daily balance changes into running totals to track actual token holdings over time
- **Logic**: Using the daily balance changes from Component A, the system calculates cumulative balances using window functions partitioned by timestamp grain, chain, account address, and token address. This creates a running sum ordered by timestamp, so each day shows the total accumulated balance for each token in each treasury address. The cumulative calculation ensures that the current balance reflects all historical movements.
- **Key fields**: `balance` (cumulative total), partitioned by `timestamp_grain`, `chain_id`, `account_address`, `token_address`

### Component C: Forward filling for continuous data
- **Purpose**: Ensures treasury values are available for every day, even when no transactions occurred
- **Logic**: The system applies forward-fill logic to propagate the last known balance for each token forward to subsequent dates where no transactions occurred. This creates a continuous daily time series, ensuring that treasury holdings are represented for every day regardless of transaction activity. The fill-forward process maintains separate series for each combination of treasury address and token.
- **Key fields**: Filled `balance` values across continuous date ranges for each address-token combination

### Component D: USD conversion
- **Purpose**: Converts token balances to USD values for aggregation and reporting
- **Logic**: The system joins the filled balance data with end-of-day price feeds, matching on timestamp, chain, and token address. Each token balance is multiplied by its corresponding USD price to calculate the dollar value. Only positive balances are included in the conversion. The calculation uses safe multiplication to handle potential null values or calculation errors.
- **Key fields**: `amount` (USD value), derived from `balance` × `price_usd`

### Final aggregation
- **Combining components**: All USD-converted token balances are summed across both treasury addresses and all tokens to produce a single daily treasury value
- **Currency conversion**: USD conversion occurs at the token level using end-of-day prices before aggregation
- **Time aggregation**: Daily boundaries are maintained throughout, with forward-filling ensuring continuous daily reporting
- **Final calculation**: The final treasury value represents the sum of (token_balance × token_price_usd) across all tokens held in both LooksRare treasury addresses, providing the total USD value of protocol reserves

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

Total value of a project's onchain treasury, including its native token.

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