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# Rezerve Bond sales Methodology

## 1. Overview

The Rezerve bond sales metric measures the total USD value of deposits made to Rezerve bonds on a daily basis. This metric tracks user investments in Rezerve's bond offerings, where users deposit quote tokens to purchase bonds from the protocol's bond depository contracts. The calculation captures all bond deposits, converts them to USD using end-of-day prices, and aggregates them by day to provide a comprehensive view of Rezerve's bond sales volume.

## 2. Data sources

The calculation relies on the following raw data sources:
- **Sonic blockchain events**: Parsed `AppBondDepository_CreateBond_event` logs from Rezerve's bond depository contracts to identify valid bonds and their quote tokens
- **Sonic blockchain events**: Parsed `AppBondDepository_BondCreated_event` logs from the same contracts to capture actual deposit transactions
- **Token metadata**: Token decimal information for proper amount normalization
- **End-of-day price feeds**: Token price data for USD conversion of deposit amounts

## 3. Step-by-step calculation

### Component A: Bond contract identification
- **Purpose**: Identifies valid Rezerve bond contracts and their associated quote tokens
- **Logic**: Extracts all `AppBondDepository_CreateBond_event` events from Sonic blockchain. Each event represents the creation of a new bond offering by Rezerve's bond depository contract. The events capture the bond identifier, the contract address of the depository, and the quote token that users must deposit to purchase the bond.
- **Key fields**: `bond_id` (unique bond identifier), `contract_address` (bond depository contract), `token_address` (quote token for deposits), `chain_id` (always Sonic), `block_timestamp` (creation time)

### Component B: Deposit transaction capture  
- **Purpose**: Captures all user deposits made to Rezerve bonds
- **Logic**: Extracts all `AppBondDepository_BondCreated_event` events from the same Sonic contracts. Despite the event name, these represent user deposits to existing bonds rather than bond creation. Each event captures when a user deposits quote tokens to purchase a bond position.
- **Key fields**: `bond_id` (identifies which bond received the deposit), `amount` (deposit amount in quote token), `price` (bond price), `contract_address` (depository contract), `transaction_hash` (unique transaction identifier)

### Component C: Deposit enrichment
- **Purpose**: Associates each deposit with its corresponding quote token
- **Logic**: Joins deposit events with bond contract data using `bond_id` as the key. This enriches each deposit record with information about which token was deposited, enabling proper USD conversion. Only deposits to valid, created bonds are included through an inner join.
- **Key fields**: Combined data includes deposit `amount`, `token_address` from bond metadata, `timestamp` truncated to daily boundaries, and all identifying information for downstream processing

### Final aggregation
- **Combining components**: All deposit amounts are aggregated by day, chain, and token, then converted to USD using end-of-day token prices
- **Currency conversion**: The `convert_to_usd_and_correct_decimals` macro applies decimal correction based on token metadata and converts amounts to USD using end-of-day price feeds
- **Time aggregation**: Deposits are grouped by daily boundaries using timestamp truncation, with missing days filled with zero values
- **Final calculation**: The sum of all USD-converted deposit amounts per day represents the total bond sales volume. The result undergoes final standardization through the `finalize_metric_bond_sales` macro, which ensures schema compliance, validates identifiers, and applies a zero-fill strategy for missing data points.

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

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