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Reserve

# Reserve Total value locked Methodology

## 1. Overview

Total Value Locked (TVL) for Reserve Protocol represents the total USD value of assets deposited across all Reserve products. Reserve operates three distinct product types: index products (folios that hold baskets of tokens), yield-bearing products (RTokens that generate yield), and RSR staking (staked Reserve Rights tokens). The calculation aggregates token balances across all products on Ethereum, Base, BSC, and Arbitrum chains by tracking token transfer events and maintaining cumulative balance snapshots.

## 2. Data sources

The TVL calculation relies on several blockchain data sources:
- **ERC20 token transfers**: Parsed `Transfer` events from Ethereum, Base, BSC, and Arbitrum capturing token movements
- **Reserve protocol events**: `GovernedFolioDeployed` events from Reserve FolioDeployer contracts identifying index products, and `RTokenCreated` events from RTokenFactory contracts identifying yield products
- **External pricing data**: End-of-day token price feeds for USD conversion
- **Token metadata**: Token decimal information for proper amount calculation

## 3. Step-by-step calculation

### Component A: Product identification

- **Purpose**: Identify valid Reserve protocol products and their contract addresses
- **Logic**: Index products are identified through `GovernedFolioDeployed` events from FolioDeployer contracts across Ethereum, Base, and BSC. These events provide the `folio` address (index token) and `stToken` address (staked token). Yield products are identified through `RTokenCreated` events from RTokenFactory contracts on Ethereum, Base, and Arbitrum, providing `rToken` address, `main` config address, and `stRSR` staked RSR address. Products are classified as `Reserve Index`, `Reserve Yield`, or `Reserve Rights` based on token addresses.
- **Key fields**: `folio` address for index tokens, `rToken` address for yield tokens, `stRSR` address for staking, `product_id` classification

### Component B: Index product balances

- **Purpose**: Track token deposits and withdrawals for index products (folios)
- **Logic**: Monitor ERC20 `Transfer` events where tokens are sent TO index token addresses (counted as positive deposits) or FROM index token addresses (counted as negative withdrawals). Calculate cumulative balances for each token within each index product using window functions ordered by timestamp and log index. Extract end-of-day balance snapshots by taking the last balance of each day, then fill forward missing days to ensure continuous time series.
- **Key fields**: `amount` (positive for inflows, negative for outflows), `index_token_address`, `token_address`

### Component C: Yield product balances

- **Purpose**: Track token minting and burning for RToken yield products
- **Logic**: Monitor RToken `Transfer` events where tokens are minted FROM null address (`0x0000000000000000000000000000000000000000`) or dead address (`0x000000000000000000000000000000000000dead`) counted as positive supply increases, or burned TO these addresses counted as negative supply decreases. Calculate cumulative token supply for each RToken using running sums, take daily snapshots, and fill forward missing days.
- **Key fields**: `amount` (positive for minting, negative for burning), `token_address` (RToken address), `from_address` and `to_address` (null/dead addresses)

### Component D: RSR staking balances

- **Purpose**: Track RSR token staking and unstaking activities
- **Logic**: Monitor RSR token transfers where RSR tokens (specific contract addresses per chain) are sent TO staked RSR addresses (positive staking) or FROM staked RSR addresses (negative unstaking). RSR token addresses are `0x320623b8e4ff03373931769a31fc52a4e78b5d70` on Ethereum and `0xab36452dbac151be02b16ca17d8919826072f64a` on Base. Calculate cumulative staked amounts per staked RSR address, take daily snapshots, and fill forward missing days.
- **Key fields**: `amount` (positive for staking, negative for unstaking), `token_address` (RSR token), `strsr_address` (staked RSR contract)

### Final aggregation

- **Combining components**: Union all three balance types (index, yield, RSR staking) into a single dataset with consistent schema including `timestamp`, `chain_id`, `token_address`, `product_id`, and `amount` fields
- **Currency conversion**: Apply the `convert_to_usd_and_correct_decimals` macro to convert all token amounts to USD values using end-of-day price feeds and correct for token decimal places (e.g., converting wei to ETH by dividing by 10^18)
- **Time aggregation**: All calculations use daily boundaries with end-of-day snapshots. Missing days are filled forward to maintain continuous time series data
- **Final calculation**: Sum all USD-converted token balances grouped by `timestamp`, `chain_id`, and `product_id` to produce daily TVL values for each Reserve product on each supported blockchain

*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.

ReserveRSR

Total value locked

Total value locked

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