OpenChat users can send messages to each other containing tokens such as ICP. Users can upgrade to Diamond membership to have access to extra or enhanced features.

OpenChat is a chat application running end-to-end on the Internet Computer blockchain.

CHAT tokenholders own and govern the protocol.

github

twitter

website

Social

OpenChat

# OpenChat Circulating supply Methodology

## 1. Overview

The OpenChat circulating token supply metric measures the amount of CHAT tokens that are available for trading and circulation in the market. This metric represents the total token supply minus tokens held in the protocol's treasury. The calculation tracks token supply changes through mint and burn events, while separately monitoring treasury balance changes through transfer events to and from the treasury wallet.

## 2. Data sources

The methodology relies on the following raw data sources:

- **OpenChat protocol event logs**: Raw event data from the OpenChat application on the Internet Computer blockchain, including all protocol interactions and token operations
- **Token mint and burn events**: Blockchain events representing token creation (`mint`) and destruction (`burn`) operations that affect total supply
- **Treasury transfer events**: Protocol events tracking token transfers to treasury (`transfer_to_treasury`) and from treasury (`transfer_from_treasury`) operations
- **Event metadata**: Timestamp, source, user, and payload information for all OpenChat protocol events

## 3. Step-by-step calculation

### Component A: Raw event processing
- **Purpose**: Extract and deduplicate OpenChat protocol events from raw blockchain data
- **Logic**: The system extracts events from OpenChat's event logs, including timestamp, event name, user, source, and JSON payload data. Events are deduplicated using a combination of timestamp, user, event name, source, and payload content to ensure each unique event is counted only once. Row numbering is applied within each partition to identify and retain only the first occurrence of duplicate events.
- **Key fields**: `timestamp` for event timing, `name` for event type identification, `payload` containing event-specific data like token amounts, `source` for event origin tracking

### Component B: Token supply tracking
- **Purpose**: Calculate the maximum token supply by tracking cumulative mint and burn events
- **Logic**: The system processes `mint` events as positive supply changes and `burn` events as negative supply changes. Token amounts are extracted from JSON payloads and normalized by dividing by 1e8 to account for decimal places. Events are aggregated to daily granularity by truncating timestamps to day boundaries. A cumulative running sum is calculated over time using window functions to track the total maximum supply at each point in time.
- **Key fields**: `amount` extracted from event payloads representing token quantities, `timestamp` truncated to daily boundaries, cumulative `token_supply_maximum` as running total

### Component C: Treasury balance calculation
- **Purpose**: Track the current balance of tokens held in the OpenChat treasury
- **Logic**: The system processes `transfer_to_treasury` events as positive treasury balance changes and `transfer_from_treasury` events as negative treasury balance changes. Like supply tracking, amounts are extracted from JSON payloads and normalized by dividing by 1e8. Events are aggregated to daily granularity and a cumulative running sum tracks the treasury balance over time. This represents tokens that are not in active circulation.
- **Key fields**: `amount` from transfer event payloads, daily aggregated `change` values, cumulative `treasury_balance` as running total

### Final aggregation
- **Combining components**: The maximum token supply data is joined with treasury balance data by timestamp to align the calculations on the same daily boundaries
- **Currency conversion**: No currency conversion is required as amounts are already in CHAT token units after decimal normalization
- **Time aggregation**: All calculations use daily granularity with timestamp truncation to day boundaries. A complete date spine is generated from the first recorded event to the current date to ensure no gaps in the time series
- **Final calculation**: Circulating supply is calculated as the maximum token supply minus the treasury balance for each day. The `finalize_metric_token_supply_circulating` macro is applied with a fill_zeros strategy to handle any missing dates, ensuring continuous daily data with zero values for gaps rather than nulls

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

Number of tokens currently available for trading on the open market.

OpenChatCHAT

Circulating supply

Circulating supply

Competitive landscape