# OToken Total value locked Methodology

## 1. Overview

Total value locked (TVL) for OToken measures the aggregate value of assets deposited into the yield-bearing tokens and automated management strategies within the Origin Protocol ecosystem. This metric specifically captures the outstanding supply of tokens including Origin Ether (OETH), Origin Sonic (OS), and Super OETH (superOETHb), as well as assets managed by the ARM (Automated Reward Manager). TVL serves as a key indicator of the protocol's scale in the liquid staking and yield-generation markets.

## 2. Data sources

- **Blockchain events**: `TotalSupplyUpdatedHighres` events from OToken contracts, `mint` and `burn` function calls from `wOETH` contracts, and state-based supply tracking for ARM contracts, covering Ethereum, Arbitrum, Base, and Sonic.
- **External data**: End-of-day price feeds and asset metadata.

## 3. Step-by-step calculation

### Component A: OToken supply tracking

- **Purpose**: Captures the total outstanding supply of yield-bearing assets across supported networks.
- **Logic**: Total supply values are extracted from `TotalSupplyUpdatedHighres` events emitted by `OETH`, `OS`, and `superOETHb` contracts on Ethereum, Sonic, and Base respectively. These events provide a direct record of the current supply for each asset at the time of the update.
- **Key fields**: `block_timestamp`, `token_address`, `in_totalSupply` (representing the current supply).

### Component B: Bridged asset reconciliation

- **Purpose**: Accounts for bridged OToken supply while preventing double-counting between layers.
- **Logic**: A running balance of wrapped OETH on Arbitrum is calculated by aggregating `mint` and `burn` function calls. To ensure accuracy at the project level, the outstanding supply of wrapped OETH on Arbitrum is subtracted from the total supply on Ethereum, as the Ethereum-based tokens are locked in a bridge contract to back the Arbitrum-native tokens.
- **Key fields**: `block_timestamp`, `in_amount`, `token_address`.

### Component C: Automated Reward Manager (ARM) tracking

- **Purpose**: Measures the value of assets deposited into the ARM product.
- **Logic**: Total assets managed by the ARM are tracked via state calls to the `totalSupply` function on Ethereum. This provides a point-in-time snapshot of the value deposited into the strategy.
- **Key fields**: `block_timestamp`, `state_value`, `token_address`.

### Component D: Normalization and USD conversion

- **Purpose**: Standardizes all asset values into a single currency for comparison and aggregation.
- **Logic**: All extracted supply and deposit amounts are normalized by decimal precision. Daily averages are calculated for each asset and product. A fill-forward mechanism is applied to ensure data continuity on days without specific event updates. Finally, these quantities are multiplied by end-of-day price feeds to determine the TVL in USD.
- **Key fields**: `timestamp`, `token_address`, `price_usd`.

*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.

Total value locked

Liquid staking

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OTokenOTOKEN

Total value locked

Total value locked

Chain breakdown