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Blockchains (L2)

Metal

# Metal Bridge deposits Methodology

## 1. Overview

Bridge deposits represents the total USD value of tokens held in Metal protocol's designated bridge addresses on Ethereum. This metric tracks the capital deposited into Metal's bridging infrastructure, providing insight into the protocol's bridge utilization and total value locked in cross-chain operations. The calculation aggregates token balances across two specific Ethereum addresses that serve as Metal's bridge contracts.

## 2. Data sources

- **Ethereum transaction data**: Transaction records and event logs from Ethereum blockchain containing token transfers and balance changes
- **Token balance snapshots**: Historical balance data for all tokens held at specific addresses over time
- **Token metadata**: Information about token contracts including decimal precision and symbol data
- **End-of-day price feeds**: Daily USD price data for tokens to enable currency conversion
- **Chain availability data**: Configuration data defining valid reporting periods based on blockchain data availability

## 3. Step-by-step calculation

### Component A: Bridge address identification
- **Purpose**: Define the specific addresses that constitute Metal's bridge infrastructure
- **Logic**: Two Ethereum addresses are hardcoded as bridge-related addresses: `0x6d0f65d59b55b0fec5d2d15365154dcadc140bf3` and `0x3f37abde2c6b5b2ed6f8045787df1ed1e3753956`. These addresses represent Metal protocol's bridge contracts where users deposit tokens for cross-chain transfers.
- **Key fields**: `account_addresses` containing the bridge contract addresses

### Component B: Portfolio balance calculation
- **Purpose**: Calculate the total value of all tokens held in the bridge addresses over time
- **Logic**: The portfolio calculation macro processes Ethereum transaction data to determine token balances at the specified bridge addresses for each time period. This includes tracking all token transfers into and out of these addresses, maintaining running balances for each token type, and converting token quantities to USD values using end-of-day price feeds and proper decimal adjustment.
- **Key fields**: `timestamp` for time periods, `chain` for blockchain identifier, `balance` for USD-converted token values

### Component C: Business categorization
- **Purpose**: Apply standard business dimensions to the bridge deposit data
- **Logic**: Each balance record is categorized with consistent business metadata including `market_sector_id` as 'blockchains_l2' indicating Layer 2 blockchain category, `business_segment_id` as 'blockchain' for the blockchain segment, and `product_id` as null since this tracks protocol-level rather than product-specific metrics.
- **Key fields**: `market_sector_id`, `business_segment_id`, `product_id` for business classification

### Final aggregation
- **Combining components**: Token balances from both bridge addresses are summed together, grouped by timestamp, chain, and business dimensions to create a single `bridge_deposits` value representing total USD value held in Metal's bridge infrastructure
- **Currency conversion**: All token balances are converted to USD using end-of-day price feeds, with proper decimal adjustment based on token contract specifications
- **Time aggregation**: Data is aggregated by daily timestamps, creating daily snapshots of bridge deposit values
- **Final calculation**: The final metric represents the sum of USD-converted token balances across all Metal bridge addresses, processed through the finalization macro which applies forward-filling for missing data points and standard metric formatting, then filtered to include only periods where chain data availability requirements are satisfied

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

Value of assets held in a project's bridge contracts.

MetalMTL

Bridge deposits

Bridge deposits

Competitive landscape

Chain breakdown