# Prime Staking Total value locked Methodology

## 1. Overview

Total value locked for Prime Staking measures the aggregate value of assets deposited into the liquid staking protocol. It is determined by tracking the total circulating supply of the `psXDC` asset, which is minted in a 1:1 ratio when users stake native XDC. This metric serves as a leading indicator of protocol adoption and the total liquidity provided by participants within the XDC ecosystem.

## 2. Data sources

- **Blockchain events**: Token `Transfer` events for the `psXDC` asset on the XDC network
- **External data**: End-of-day price feeds for the underlying staked assets

## 3. Step-by-step calculation

### Component A: Prime Staking flow extraction

- **Purpose**: Identify the entry and exit of staked assets by tracking the supply changes of the liquid staking token
- **Logic**: Token `Transfer` events for the `psXDC` contract are parsed to identify mints and burns. Mint events are captured by filtering for transfers originating from the null address, representing new XDC deposits. Burn events are captured by filtering for transfers sent to the null address, representing unstaking actions and the withdrawal of assets.
- **Key fields**: `from_address`, `to_address`, `value`

### Component B: Total supply and staked balance calculation

- **Purpose**: Calculate the total amount of assets held by the protocol in native units
- **Logic**: Transaction amounts are normalized by decimal precision. A daily net flow is calculated by subtracting burned amounts from minted amounts. The total supply of `psXDC` is then generated using a cumulative sum of these net flows over time. Because the protocol maintains a 1:1 ratio between the staked asset and the liquid staking token, this total supply is used as the proxy for total XDC staked.
- **Key fields**: `amount`

### Component C: USD conversion and aggregation

- **Purpose**: Normalize the staked value to USD for reporting and analysis
- **Logic**: The daily cumulative total supply is multiplied by the end-of-day price feeds for the corresponding asset. The data is aggregated at a daily granularity using UTC day boundaries. Any days with missing transaction activity are handled by forward-filling the last known total supply to ensure a continuous representation of value locked.

*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

Prime Staking

Total value locked

Total value locked

Chain breakdown