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Origin Protocol

# Origin Protocol Treasury (net) Methodology

## 1. Overview

Treasury net measures the total USD value of tokens held across Origin Protocol's treasury addresses. This metric provides insight into the protocol's financial reserves by tracking all ERC-20 token holdings across designated treasury wallets, excluding the protocol's native OGN token to focus on external asset holdings. The calculation aggregates daily token balances across multiple treasury addresses and converts them to USD values using end-of-day pricing.

## 2. Data sources

- **Ethereum token transfer events**: Parsed `Transfer` events from ERC-20 contracts to track token movements in and out of treasury addresses
- **Ethereum transaction traces**: Transaction execution traces to capture all token balance changes including those from contract interactions
- **End-of-day token price feeds**: Daily USD pricing data for all tokens held in treasury addresses
- **Token metadata**: Token contract information including symbols and decimal place specifications for accurate balance calculations

## 3. Step-by-step calculation

### Component A: Treasury balance tracking
- **Purpose**: Tracks token balance changes for Origin Protocol's treasury addresses over time
- **Logic**: Monitors token movements for four specific treasury addresses on Ethereum: `0x77314eb392b2be47c014cde0706908b3307ad6a9`, `0x6c5cdfb47150efc52072cb93eea1e0f123529748`, `0xbe2ab3d3d8f6a32b96414ebbd865dbd276d3d899`, and `0xf14bbdf064e3f67f51cd9bd646ae3716ad938fdc`. Uses parsed `Transfer` events and transaction traces to calculate daily balance changes for each token at each address. Excludes Origin's native token (OGN at `0x9c354503c38481a7a7a51629142963f98ecc12d0`) from treasury calculations to focus on external asset holdings.
- **Key fields**: `timestamp` for daily boundaries, `account_address` for treasury wallet identification, `token_address` for asset identification, `balance` for net daily change amounts, and `token_symbol` for asset labeling

### Component B: Cumulative balance calculation  
- **Purpose**: Converts daily balance changes into running cumulative balances for each token at each treasury address
- **Logic**: Applies cumulative sum calculations using window functions partitioned by timestamp grain, chain, account address, and token address. Orders by timestamp to maintain chronological balance progression. This transforms daily net changes into absolute token holdings at each point in time.
- **Key fields**: Cumulative `balance` representing total token holdings, maintaining all dimensional keys for proper partitioning

### Component C: Data continuity and forward filling
- **Purpose**: Ensures continuous daily time series data by filling gaps where no transactions occurred
- **Logic**: Uses forward-fill methodology to propagate the last known balance forward to subsequent days when no balance changes occurred. This creates a complete daily time series showing treasury holdings even on days with no token movements.
- **Key fields**: Forward-filled `balance` values maintaining consistency across time gaps

### Component D: USD conversion
- **Purpose**: Converts token balances to USD values using daily market prices
- **Logic**: Joins forward-filled token balances with end-of-day price feeds, matching on timestamp, chain, and token address. Multiplies token balance by corresponding USD price to get dollar-denominated value. Only includes positive balances and daily price granularity data. Filters out any tokens without corresponding price data.
- **Key fields**: `amount` representing USD value of token holdings, derived from `balance` multiplied by `price_usd`

### Final aggregation
- **Combining components**: Sums USD values across all treasury addresses and all tokens to calculate total treasury net value
- **Currency conversion**: Uses end-of-day price feeds with daily granularity for USD conversion, ensuring consistent pricing methodology
- **Time aggregation**: Maintains daily time boundaries with forward-filling to create continuous time series
- **Final calculation**: Total treasury net equals the sum of all token balances (in USD) across all four treasury addresses, excluding the protocol's native OGN token, representing the protocol's holdings of external assets

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

Total value of a project's treasury excluding its native token.

Origin ProtocolOGN

Treasury (net)

Treasury (net)

Competitive landscape

Chain breakdown