Users make SEPA payments to Monerium and receive EURe at a 1:1 rate. 

Monerium is a financial technology company that is the principal architect of EURe - an EU regulated, full-reserve euro stablecoin that brings fiat euro liquidity on-chain.

Monerium is a private company registered in Iceland. Monerium's investors include Algorand, ConsenSys Mesh and The Icelandic Technology Development Fund etc.

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Monerium

# Monerium Total value locked Methodology

## 1. Overview

The Monerium TVL (Total Value Locked) metric represents the total USD value of outstanding EURe stablecoin supply across supported blockchain networks. This metric tracks the cumulative net issuance of Monerium's euro-backed stablecoin by monitoring mint and redemption events on Ethereum and Polygon. The calculation aggregates outstanding supply across all supported chains and converts the total to USD using end-of-day price feeds.

## 2. Data sources

The methodology relies on the following raw data sources:
- **Blockchain events**: Parsed `Transfer` events from Ethereum and Polygon blockchains for EURe token contracts
- **Token metadata**: Decimal precision information for EURe tokens to standardize amount calculations
- **External data**: End-of-day price feeds for EUR-to-USD conversion
- **Contract addresses**: Specific EURe token contract addresses on each supported chain

## 3. Step-by-step calculation

### Component A: Stablecoin mint detection
- **Purpose**: Identify EURe token minting events across supported blockchains
- **Logic**: Extracts `Transfer` events from Ethereum EURe contract (`0x3231cb76718cdef2155fc47b5286d82e6eda273f`) and Polygon EURe contract (`0x18ec0a6e18e5bc3784fdd3a3634b31245ab704f6`) where the `from_address` equals the null address (`0x0000000000000000000000000000000000000000`). These represent new token creation events. Filters out removed events to ensure data quality.
- **Key fields**: `block_timestamp` for timing, `transaction_hash` and `log_index` for unique identification, `to_address` for recipient, `value` for minted amount, `token_address` for contract identification

### Component B: Stablecoin redemption detection  
- **Purpose**: Identify EURe token burning/redemption events across supported blockchains
- **Logic**: Extracts `Transfer` events from the same EURe contracts where the `to_address` equals either the null address (`0x0000000000000000000000000000000000000000`) or the dead address (`0x000000000000000000000000000000000000dead`). These represent token destruction events. Filters out removed events to maintain data integrity.
- **Key fields**: `block_timestamp` for timing, `transaction_hash` and `log_index` for unique identification, `from_address` for sender, `value` for burned amount, `token_address` for contract identification

### Component C: Outstanding supply calculation
- **Purpose**: Calculate the cumulative outstanding supply of EURe tokens over time
- **Logic**: Combines mint and redemption events by unioning mints (positive amounts) with redemptions (negative amounts). Truncates timestamps to daily boundaries for daily aggregation. Applies decimal correction using token metadata to standardize amount values. Groups events by timestamp, chain, and token address, then sums daily net issuance. Calculates cumulative outstanding supply using window functions that sum amounts over time partitioned by chain and token address. Applies forward-filling to ensure continuous time series data for missing dates.
- **Key fields**: `timestamp` (daily), `chain`, `token_address`, `amount` (decimal-corrected), `outstanding_supply` (cumulative sum)

### Component D: USD conversion and finalization
- **Purpose**: Convert outstanding supply to USD and prepare final TVL metric
- **Logic**: Applies USD conversion using end-of-day EUR/USD exchange rates through the price feed integration. Forward-fills any remaining gaps in the time series to ensure complete daily coverage. Validates data schema and applies chain availability filters, excluding unsupported networks.
- **Key fields**: `outstanding_supply` (in USD), `chain_id`, `product_id`, `timestamp_grain`

### Final aggregation
- **Combining components**: Sums outstanding supply values across all supported chains and token contracts to calculate total TVL
- **Currency conversion**: Uses end-of-day EUR-to-USD exchange rates applied to outstanding supply amounts
- **Time aggregation**: Maintains daily grain with forward-filling to handle missing dates
- **Final calculation**: The TVL represents the sum of all outstanding EURe token supply across Ethereum and Polygon, converted to USD using end-of-day exchange rates

*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.

Monerium

Total value locked

Total value locked

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