Users are able to use the Orca protocol to transact with digital assets on a peer-to-peer or peer-to-protocol basis by trading against liquidity  pools, which are created and seeded by other users providing liquidity of a pair of tokens into such liquidity pools in exchange for a stake of the liquidity and trading fees generated by such pools.

Orca is a non-custodial automated market maker (AMM) protocol built on Solana. Orca was founded by Yutaro Mori and Grace Kwan and launched in 2021.

ORCA tokenholders govern the Orca protocol treasury, which receives a portion of the trading fees paid by users of the protocol.

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Orca

Orca | Data Breakdown

# Orca ORCA staked Methodology

## 1. Overview

The Orca staked tokens metric measures the total amount of ORCA tokens that are currently staked in the Orca protocol's staking system, expressed in USD value. This metric tracks the cumulative balance of tokens that users have staked for rewards, including any tokens acquired through protocol buybacks that are added to the staking pool. The calculation maintains a running balance by processing daily net changes from staking, unstaking, and buyback events.

## 2. Data sources

The calculation relies on several key data sources from the Solana blockchain:

- **Solana staking instruction events**: Protocol-specific staking instruction data from the Orca staking system that identifies intentional staking transactions
- **Solana token transfer events**: Raw token transfer records showing ORCA token movements to and from the staking contract
- **End-of-day token price feeds**: Price data for converting ORCA token amounts to USD values
- **Token metadata**: ORCA token configuration data including decimal precision information

## 3. Step-by-step calculation

### Component A: Staking event identification
- **Purpose**: Identifies legitimate staking and unstaking transactions
- **Logic**: The system matches Solana staking instructions with corresponding token transfer events. It filters for transfers involving the ORCA token address (`orcaEKTdK7LKz57vaAYr9QeNsVEPfiu6QeMU1kektZE`) and the staking contract address (`Ce5j11WAsSzM3nkzrw4Kw6v6ic3nbyqpv5eywjYKeKc5`). Events are classified as 'stake' when tokens are transferred TO the staking contract and 'unstake' when tokens are transferred FROM the staking contract
- **Key fields**: `block_timestamp`, `transaction_id`, `token_address`, `amount`, and `event_type` classification

### Component B: Buyback event identification  
- **Purpose**: Captures protocol buyback events that increase staked supply
- **Logic**: The system identifies token transfers to the staking contract that are NOT associated with staking instructions. These represent tokens that the protocol has bought back from the market and added directly to the staking pool. Only transfers involving the ORCA token and directed to the staking contract are included
- **Key fields**: `block_timestamp`, `transaction_id`, `token_address`, `amount`, with `event_type` set to 'buyback'

### Component C: Daily aggregation and cumulative tracking
- **Purpose**: Calculates the running total of staked tokens over time
- **Logic**: All events (staking, unstaking, and buybacks) are combined and aggregated by day. Stake events and buyback events add to the total (`+amount`), while unstake events subtract from the total (`-amount`). The system applies decimal correction by dividing amounts by 1e6 to convert from raw token units to standard token amounts. A running cumulative sum is then calculated across all historical days to maintain the total staked balance
- **Key fields**: `timestamp` (daily), `daily_net_staked` (net change per day), `total_staked` (cumulative balance)

### Final aggregation
- **Combining components**: The three event types (stake, unstake, buyback) are unioned together and processed as a single event stream, with each event type contributing positively or negatively to the daily net change
- **Currency conversion**: The final token amounts are converted to USD using end-of-day price feeds for the ORCA token, providing USD-denominated staked value
- **Time aggregation**: Data is aggregated at daily boundaries using timestamp truncation, with the cumulative balance calculated as a running sum ordered by date
- **Final calculation**: The final metric represents the total USD value of ORCA tokens currently staked in the protocol, calculated as the cumulative sum of all historical daily net staking changes, converted to USD using current prices

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

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