Velora aggregates liquidity from multiple liquidity sources such as non-custodial exchanges, lending protocols and market makers into one comprehensive and secure interface and APIs, allowing users to trade at the best market rates.

Velora is a non-custodial DEX aggregator built on Ethereum, Polygon, BNB Chain and other blockchains. Velora was founded by Mounir Benchemled and was launched in 2019.

PSP tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). Velora's investors include CoinFund, Blockchain Capital, CoinGecko, etc.



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# Velora Treasury Methodology

## 1. Overview

The ParaSwap treasury metric measures the total USD value of tokens held across all ParaSwap treasury addresses on supported blockchain networks. This metric provides visibility into ParaSwap's treasury holdings and tracks changes in asset values over time. The calculation aggregates token balances from multiple treasury wallets across six chains (Ethereum, Arbitrum, BSC, Fantom, Optimism, and Polygon) and converts them to USD using end-of-day price feeds.

## 2. Data sources

- **Blockchain events**: Parsed ERC20 `Transfer` events from Ethereum, Arbitrum, BSC, Fantom, Optimism, and Polygon networks to track token movements into and out of treasury addresses
- **Transaction data**: Token transfer records showing movements between addresses on each supported blockchain
- **External data**: End-of-day token price feeds for USD conversion and token metadata including symbols and decimal places
- **Chain data**: Chain availability data to ensure data quality and completeness across supported networks

## 3. Step-by-step calculation

### Component A: Treasury address identification
- **Purpose**: Identifies specific wallet addresses that constitute ParaSwap's treasury across multiple blockchain networks
- **Logic**: Uses predefined lists of treasury addresses for each supported chain. Ethereum has the largest number with 7 treasury addresses, while other chains have 1-2 addresses each. These addresses are hardcoded based on known ParaSwap treasury wallets: `0x348aa814a72970e76d5756a2cda16e7e8f245aab`, `0x51d2f2c65d043118eb4329fcbc738943f494609f`, and others across the six supported networks
- **Key fields**: `chain_id` for blockchain network identification and `account_address` for specific treasury wallet addresses

### Component B: Balance change calculation
- **Purpose**: Calculates net token balance changes for each treasury address by processing transfer events
- **Logic**: Processes parsed `Transfer` events to identify when tokens move into or out of ParaSwap treasury addresses. For each treasury address and token pair, calculates the net change in balance by summing inbound transfers and subtracting outbound transfers. Uses incremental processing to handle new transfer events efficiently while maintaining historical balance change records
- **Key fields**: `balance` representing the net change in token amount, `token_address` for specific tokens, and `timestamp` for when changes occurred

### Component C: Cumulative balance aggregation
- **Purpose**: Converts balance changes into running token balances for each treasury address and token combination
- **Logic**: Applies cumulative sum calculations using window functions partitioned by timestamp grain, chain, account address, and token address. Orders by timestamp to ensure proper chronological accumulation of balance changes. This transforms daily net changes into absolute token balances held at each point in time
- **Key fields**: Cumulative `balance` showing total tokens held rather than just changes

### Component D: Data continuity and forward-filling
- **Purpose**: Ensures continuous time series data by filling gaps where no balance changes occurred
- **Logic**: Uses forward-filling logic to carry forward the last known balance for each token and treasury address combination when no new transfer events occurred on specific days. This prevents gaps in the time series and ensures treasury values can be calculated for every day even when no token movements happened
- **Key fields**: Filled `balance` values maintaining data continuity across time periods

### Component E: USD conversion
- **Purpose**: Converts token amounts to USD values using daily price feeds
- **Logic**: Joins filled token balance data with end-of-day token price feeds, matching on timestamp, chain, and token address. Multiplies token balance by USD price to get dollar-denominated value. Filters out zero balances and ensures price data uses daily timestamp grain. Only includes tokens with positive balances and available price data
- **Key fields**: `amount` representing USD value of token holdings, calculated as balance multiplied by `price_usd`

### Final aggregation
- **Combining components**: Sums USD values across all tokens and treasury addresses to calculate total treasury value for each day and chain
- **Currency conversion**: Uses end-of-day token prices to convert token amounts to USD, ensuring consistent valuation timing across all holdings
- **Time aggregation**: Daily aggregation with forward-filling strategy to handle missing data points and ensure continuous time series
- **Final calculation**: Total treasury value equals the sum of all USD-denominated token balances held across all ParaSwap treasury addresses on each supported blockchain network, with chain availability filters applied to ensure data quality

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

Total value of a project's onchain treasury, including its native token.

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