Overcollateralized borrowers deposit funds into Lybra Finance and receive eUSD and peUSD stablecoins.

Lybra Finance is a non-custodial stablecoin protocol built on Ethereum. Lybra Finance was founded by a an anonymous team and launched in May 2023.

LBR tokenholders own & govern the protocol. They currently take all of the total fees paid by borrowers (revenue). Lybra Finance launched with a public presale.

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Lybra Finance

# Lybra Finance Total value locked Methodology

## 1. Overview

Total Value Locked (TVL) for Lybra Finance represents the USD value of collateral assets deposited in the protocol's contracts. Lybra is a decentralized stablecoin issuer that accepts liquid staking tokens as collateral. The TVL is calculated by measuring the token balances of accepted collateral assets held in Lybra's protocol contracts and converting these balances to USD values using daily price feeds.

## 2. Data sources

- **Token balance changes**: Ethereum token balance change events from Lybra protocol contracts
- **Price feeds**: End-of-day token price feeds for collateral assets
- **Token metadata**: Hardcoded configuration of accepted collateral assets including stETH, wstETH, wBETH, and rETH with their contract addresses
- **Protocol contracts**: Five specific Ethereum contract addresses that hold Lybra's collateral assets

## 3. Step-by-step calculation

### Component A: Collateral asset definition
- **Purpose**: Define the specific tokens accepted as collateral by Lybra protocol
- **Logic**: A hardcoded configuration specifies four liquid staking tokens and their Ethereum contract addresses: `stETH` at address `0xae7ab96520de3a18e5e111b5eaab095312d7fe84`, `wstETH` at address `0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0`, `wBETH` at address `0xa2e3356610840701bdf5611a53974510ae27e2e1`, and `rETH` at address `0xae78736cd615f374d3085123a210448e74fc6393`
- **Key fields**: `token_symbol` and `token_address` for filtering relevant balance changes

### Component B: Token balance tracking
- **Purpose**: Extract and process token balance changes from Lybra protocol contracts
- **Logic**: Token balance changes are calculated from five specific Ethereum contract addresses that represent Lybra's protocol contracts. The system monitors balance changes for the defined collateral assets across these contracts. Balance changes are filtered to include only the four accepted collateral tokens. Daily snapshots capture the net change in token holdings for each contract address and token combination.
- **Key fields**: `balance` representing the net change in token holdings, `account_address` for the protocol contracts, `token_address` for the specific collateral assets, and `timestamp` for daily aggregation

### Component C: Cumulative balance calculation
- **Purpose**: Convert daily balance changes into running cumulative balances
- **Logic**: Daily balance changes are converted to cumulative balances using window functions that sum all historical balance changes up to each point in time. This creates a running total of how much of each collateral token is held in each protocol contract over time. Forward filling ensures continuous time series data by carrying the last known balance forward for any missing dates.
- **Key fields**: Cumulative `balance` values representing total token holdings at each point in time

### Component D: USD conversion and aggregation
- **Purpose**: Convert token balances to USD values and aggregate across all collateral types
- **Logic**: Token balances are converted to USD using end-of-day price feeds that match the timestamp, chain, and token address. Only positive balances are included in the calculation. The USD values are summed across all collateral assets and all protocol contracts to produce the total net deposits figure.
- **Key fields**: `amount` representing USD value of token holdings after price conversion

### Final aggregation
- **Combining components**: All USD values from different collateral tokens and protocol contracts are summed together to create the total net deposits value
- **Currency conversion**: USD conversion uses end-of-day price feeds matched by timestamp, chain, and token address
- **Time aggregation**: Daily timestamp grain with forward filling to ensure continuous time series
- **Final calculation**: TVL equals the net deposits value, representing the total USD value of all accepted collateral tokens held in Lybra's protocol contracts. The metric is categorized under the stablecoin issuers market sector with product ID `eusd`.

*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.

Lybra FinanceLBR

Total value locked

Total value locked

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