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Mamo

# Mamo TVL with Staking Methodology

## 1. Overview

TVL with staking is a metric that measures the total value of assets deposited across Mamo's yield strategies and the Mamo native asset staking contract. This metric reflects the aggregate capital locked within the protocol, encompassing both yield-generating strategy assets and staked native assets. Yield strategies utilize underlying lending protocols, specifically Moonwell and Morpho, to generate yield for depositors, while native staking secures the protocol. Denominated in USD, this metric provides a comprehensive view of Mamo's aggregate economic activity and liquidity.

## 2. Data sources

- **Blockchain events**: `StrategyCreated` events from `ERC20MoonwellMorphoStrategyFactory` contracts, ERC-20 asset transfers, and Morpho vault state data, covering Base
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Strategy contract discovery

- **Purpose**: Identify active Mamo strategy contracts.
- **Logic**: Strategy contract addresses and associated user addresses are extracted from `StrategyCreated` events emitted by `ERC20MoonwellMorphoStrategyFactory` contracts across V1 and V2 deployments. These addresses are deduplicated to establish a master list of active strategy contracts.
- **Key fields**: `strategy_address`, `user_address`, `factory_address`

### Component B: Moonwell strategy balance tracking

- **Purpose**: Calculate the value of strategy assets deposited in Moonwell.
- **Logic**: ERC-20 asset transfers are parsed to track the cumulative balances of Moonwell mTokens (including mUSDC, mWETH, and mcbBTC) held by the identified strategy contracts. These balances are multiplied by the corresponding Moonwell exchange rates, which are retrieved from Moonwell market states and adjusted for decimal precision, to determine the underlying asset value.
- **Key fields**: `strategy_address`, `mtoken_address`, `mtoken_balance`, `exchange_rate`

### Component C: Morpho strategy balance tracking

- **Purpose**: Calculate the value of strategy assets deposited in Morpho vaults.
- **Logic**: ERC-20 asset transfers representing mints and burns of Morpho vault shares (including mwUSDC, mwETH, and mwCBBTC) are aggregated to calculate the cumulative share balances held by Mamo strategy contracts. The exchange rate (price per share) for each vault is calculated by dividing the total assets retrieved from Morpho vault state data by the cumulative total supply of vault shares. The strategy share balances are then multiplied by this exchange rate to determine the underlying asset value.
- **Key fields**: `strategy_address`, `vault_address`, `vault_share_balance`, `price_per_share`

### Component D: Mamo asset staking tracking

- **Purpose**: Calculate the value of staked MAMO assets.
- **Logic**: ERC-20 asset transfers of the native MAMO asset to and from the Mamo staking contract are tracked. Inflows to the staking contract are treated as positive flows, while outflows are treated as negative flows. These daily flows are aggregated to determine the net change in staked MAMO assets.
- **Key fields**: `token_address`, `to_address`, `from_address`, `amount_raw`

### Component E: USD conversion and cumulative aggregation

- **Purpose**: Combine all TVL components, normalize to USD, and calculate absolute TVL.
- **Logic**: The daily net changes from the Moonwell strategy component, the Morpho strategy component, and the Mamo staking component are combined. All asset amounts are normalized by their respective decimal precisions and converted to USD using end-of-day price feeds. A cumulative sum is applied to these daily USD-denominated deltas over time to calculate the absolute TVL with staking. Missing days are filled forward to ensure a continuous daily time series.
- **Key fields**: `delta_tvl`, `tvl_with_staking`, `price_usd`

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

Total USD value of assets in MAMO strategies plus staked MAMO.

MamoMAMO

TVL with Staking

TVL with Staking

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