# Pendulum Substrate Staking market cap Methodology

## 1. Overview

Staking market cap measures the value of native assets currently staked on Pendulum Substrate. It reflects the total capital helping to secure the network through the blockchain's proof-of-stake consensus mechanism. This metric is essential for assessing the economic security and participant commitment within the Pendulum Substrate ecosystem.

## 2. Data sources

- **Blockchain events**: `totalStake` records from the `parachainStaking` module and block header data, covering Pendulum Substrate
- **External data**: End-of-day price feeds for the native Pendulum asset

## 3. Step-by-step calculation

### Component A: Staking state extraction

- **Purpose**: Retrieve the raw quantity of native assets committed to the staking protocol
- **Logic**: Total staked amounts are extracted from the `totalStake` storage records within the `parachainStaking` module on Pendulum Substrate. These records are joined with block data to associate each staking update with a specific block number and its corresponding timestamp.
- **Key fields**: `total_stake`, `block_number`, `block_timestamp`

### Component B: Normalization and daily aggregation

- **Purpose**: Standardize the raw staking data into a daily time series
- **Logic**: The raw staked amounts are normalized by the asset's decimal precision (12 decimals). The data is then aggregated to a daily granularity by selecting the distinct staked values per UTC day. To maintain a complete time series, a forward-fill strategy is applied to any days where new state updates are not recorded, ensuring the most recent known staked balance is utilized for every day in the series.

### Component C: USD valuation

- **Purpose**: Calculate the market value of the staked supply in a standardized currency
- **Logic**: The daily quantities of normalized staked assets are multiplied by end-of-day price feeds for the native Pendulum asset. This calculation results in the final Staking market cap metric, representing the dollar-denominated value of the capital securing Pendulum Substrate.

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

Value of native tokens currently staked to secure a proof-of-stake network.

Staking market cap

Blockchains (L1)

Collators aggregate parachain transactions block candidates and producing state transition proofs for validators based on those blocks.

Pendulum is a decentralized blockchain for cross-border payments and traditional finance infrastructure powered by Polkadot Relay chain.

PEN holders own and govern the protocol. Pendulum is a subsidiary of SatoshiPay. SatoshiPay's investors include Blue Star Capital, KR1 plc, Stellar Development Foundation, etc.

Pendulum Substrate

Archived

Staking market cap

Staking market cap

Chain breakdown