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Meteora

# Meteora Total value locked Methodology

## 1. Overview

Total value locked (TVL) for Meteora is measured as the total value of assets deposited across Meteora Liquidity Pools and Meteora Launchpad on Solana. The USD value of all assets held in Meteora vault accounts is calculated, with proportional distribution applied to handle shared vaults. This metric is used as a key indicator of liquidity and user trust within the Meteora ecosystem.

## 2. Data sources

- **Blockchain events**: Solana DEX trade records, asset balance change records, and `DBC_Migration` from the `meteora_v1_solana` program, covering Solana
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Vault identification

- **Purpose**: Identify all Meteora pool vaults and classify by product type
- **Logic**: Vault accounts are identified and classified by product type. Accounts are extracted from Solana DEX trades where the program ID matches Meteora DLMM (`LBUZKhRxPF3XUpBCjp4YzTKgLccjZhTSDM9YuVaPwxo`), Meteora DAMM V1 (`Eo7WjKq67rjJQSZxS6z3YkapzY3eMj6Xy8X5EQVn5UaB`), Meteora DAMM V2 (`cpamdpZCGKUy5JxQXB4dcpGPiikHawvSWAd6mEn1sGG`), or Meteora DBC (`dbcij3LWUppWqq96dh6gJWwBifmcGfLSB5D4DuSMaqN`). For each trade, `base_vault` and `quote_vault` accounts are captured along with their corresponding asset addresses.
- **Key fields**: `pool_address`, `account_address`, `token_address`, `product_id`

### Component B: Vault balance tracking

- **Purpose**: Track daily asset balances for each identified Meteora vault
- **Logic**: Daily asset balances are tracked for each identified vault. Solana asset balance change records are joined with the vault dimension data using account and mint addresses. Daily `post_balance` amounts are extracted for each vault-asset combination. Forward-filling logic is applied to propagate the most recent balance across days with no activity, ensuring a continuous time series. Null values are filtered and records are deduplicated.
- **Key fields**: `timestamp`, `token_address`, `account_address`, `pool_address`, `product_id`, `token_amount`

### Component C: Proportional distribution

- **Purpose**: Handle cases where single vaults serve multiple pools
- **Logic**: Proportional distribution is applied to cases where single vaults serve multiple pools. When a vault account is shared across multiple pools within the same product, the total vault balance is distributed proportionally. The number of pools sharing each vault is counted by timestamp, vault account, and product. The vault's asset amount is then divided by this count to allocate the appropriate portion to each pool.
- **Key fields**: `tvl_token`

### Component D: Product attribution

- **Purpose**: Map on-chain pool activity to Meteora's business products
- **Logic**: On-chain pool activity is mapped to Meteora's business products (Meteora Liquidity Pools and Meteora Launchpad). Pools are attributed to Meteora Launchpad if they are classified as Meteora DBC or if they are DAMM V1/V2 pools that were graduated from a Dynamic Bonding Curve (DBC) bonding curve. These graduated pools are identified by joining pool addresses with `DBC_Migration` from the `meteora_v1_solana` program. Other DAMM V1/V2 pools and DLMM pools are attributed to Meteora Liquidity Pools.
- **Key fields**: `pool_address`, `product_id`, `tvl_token`

### Component E: USD conversion

- **Purpose**: Convert asset balances to USD
- **Logic**: Asset balances are converted to USD using end-of-day price feeds. The raw asset amounts are multiplied by the daily average USD price for each asset. If an asset cannot be priced, it is excluded from the final valuation.
- **Key fields**: `timestamp`, `token_address`, `tvl_token`, `tvl`

### Final aggregation

- **Purpose**: Combine components into the final TVL metric
- **Logic**: Daily balance changes (deltas) are aggregated and summed by day, chain, and product. A cumulative sum is applied over time to calculate the daily TVL. Forward-filling is applied to the token balances, which are then converted to USD. Finally, zero-filling is applied to ensure a continuous time series.

*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.

MeteoraMET

Total value locked

Total value locked

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