Metis batches users' transactions and submits them to Ethereum, paying a share of the transaction fees to Ethereum validators (expense).

Metis is an L2 smart contract platform for decentralized applications on Ethereum. Metis was founded by Kevin Liu, Elena Sinelnikova, and Yuan Su, and launched in 2021.

METIS tokenholders own and govern the protocol. They currently run the only sequencer and take a cut of the total transaction fees paid by users (revenue). Metis' investors include Master Ventures, Digital Finance Group, Momentum 6, etc.

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Metis

# Metis Bridge deposits Methodology

## 1. Overview

The Metis bridge deposits metric measures the total USD value of tokens held in Metis's official bridge contract on Ethereum. This metric tracks the amount of funds that users have deposited to bridge from Ethereum to the Metis Layer 2 network, providing insight into the adoption and usage of the Metis bridge infrastructure.

## 2. Data sources

- **Token transfer events**: Parsed Ethereum `Transfer` events for all ERC-20 tokens to track balance changes for the bridge address
- **Transaction data**: Ethereum transaction traces to capture token movements and balance updates
- **Token metadata**: Token contract information including symbols, decimal places, and contract addresses
- **End-of-day price feeds**: Daily USD price data for tokens to enable value conversion
- **Balance snapshots**: Daily aggregated token balance data for the tracked address

## 3. Step-by-step calculation

### Component A: Portfolio balance tracking
- **Purpose**: Track all token balances held by the Metis bridge address on Ethereum
- **Logic**: Monitor the Ethereum address `0x3980c9ed79d2c191a89e02fa3529c60ed6e9c04b` by processing all incoming and outgoing `Transfer` events. For each token, calculate the net balance by summing all inbound transfers and subtracting all outbound transfers. This creates a complete portfolio view of all tokens held by the bridge contract at any point in time
- **Key fields**: Token contract address, token `amount`, transaction `timestamp`, transfer direction, and current `balance` for each token

### Component B: USD value conversion  
- **Purpose**: Convert token balances to USD values for standardized measurement
- **Logic**: For each token balance in the portfolio, apply the corresponding end-of-day USD price and normalize for token decimal places. Sum all individual token values to get the total portfolio value in USD
- **Key fields**: Token `balance`, USD `price`, token `decimals`, and calculated USD `value`

### Final aggregation
- **Combining components**: The portfolio balances are aggregated by timestamp to create daily snapshots of the total bridge deposits value
- **Currency conversion**: All token values are converted to USD using end-of-day price feeds, with proper decimal normalization applied
- **Time aggregation**: Data is aggregated to daily granularity with forward-fill strategy applied to ensure continuous time series data for any missing days
- **Final calculation**: The metric represents the sum of USD values of all tokens held by the Metis bridge address, providing the total bridge deposits value for each day

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

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

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Bridge deposits

Bridge deposits

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Chain breakdown