Liquidity providers deposit funds into Loopring and receive trading fees from traders. Market makers offer trades through order book and make money on bid-ask spreads and market maker rebates. (supply-side fees). 

Loopring is a non-custodial exchange protocol built on Ethereum (zkRollups). Loopring was founded by Daniel Wang & Jay Zhou and launched in 2017.

LRC tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). Loopring's investors include Fundamental Labs, Obsidian Capital, Eden Block, etc.

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Loopring

# Loopring Total value locked Methodology

## 1. Overview

Loopring's Total Value Locked (TVL) represents the total USD value of tokens held in Loopring's protocol addresses on Ethereum. This metric measures the cumulative net deposits (deposits minus withdrawals) across all supported tokens in the protocol's custody. The calculation treats TVL as equivalent to net deposits, reflecting the total value of user funds managed by the Loopring protocol.

## 2. Data sources

The calculation relies on several key data sources:
- **Ethereum blockchain events**: Parsed ERC20 `Transfer` events showing token movements to and from Loopring protocol addresses
- **Transaction data**: Ethereum transaction traces to capture all token flow activities 
- **External data**: End-of-day token price feeds for USD conversion
- **Token metadata**: Token symbols and decimal precision information for proper balance calculations

## 3. Step-by-step calculation

### Component A: Token balance changes tracking
- **Purpose**: Identifies and tracks all token movements for Loopring protocol addresses
- **Logic**: Analyzes ERC20 `Transfer` events and transaction traces for four specific Loopring protocol addresses on Ethereum: `0x944644ea989ec64c2ab9ef341d383cef586a5777`, `0x674bdf20a0f284d710bc40872100128e2d66bd3f`, `0x0baba1ad5be3a5c0a66e7ac838a129bf948f1ea4`, and `0x7d3d221a8d8abdd868e8e88811ffaf033e68e108`. The calculation excludes the LRC token (`0xbbbbca6a901c926f240b89eacb641d8aec7aeafd`) from balance tracking. For each address-token combination, daily balance changes are calculated based on inflows and outflows
- **Key fields**: `timestamp`, `account_address`, `token_address`, `balance` representing daily balance changes

### Component B: Cumulative balance calculation  
- **Purpose**: Computes running cumulative token balances over time for each address-token pair
- **Logic**: Uses window functions to calculate cumulative sums of daily balance changes, ordered by timestamp within each partition of address and token. This creates a running total of tokens held in each protocol address over time. Missing data points are forward-filled to ensure continuous time series data
- **Key fields**: `balance` as cumulative token amount, with forward-filling applied for data continuity

### Component C: USD conversion and filtering
- **Purpose**: Converts token balances to USD values and filters for meaningful holdings
- **Logic**: Joins cumulative token balances with end-of-day price feeds to convert token amounts to USD values using daily closing prices. Only positive balances are included in the final calculation, filtering out zero or negative holdings
- **Key fields**: `amount` as USD-denominated token value, derived from multiplying token balance by daily price

### Final aggregation
- **Combining components**: All USD-denominated token holdings across the four Loopring protocol addresses are summed together to calculate total net deposits
- **Currency conversion**: Token balances are converted to USD using end-of-day price feeds matched by timestamp, chain, and token address  
- **Time aggregation**: Daily timestamp boundaries are used for both balance calculations and price feed matching
- **Final calculation**: TVL equals the total sum of USD-denominated positive token balances held across all Loopring protocol addresses, representing the total value locked in the protocol

*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.

LoopringLRC

Total value locked

Total value locked

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