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Seamless Protocol

# Seamless Protocol Treasury Methodology

## 1. Overview

The SeamlessProtocol treasury metric measures the total USD value of all tokens held in the protocol's designated treasury addresses. This metric provides visibility into the protocol's financial reserves and asset diversification by tracking token balances across all holdings and converting them to USD using daily price feeds. The calculation aggregates balances from multiple token types held in the treasury address on the Base blockchain.

## 2. Data sources

The treasury calculation relies on several key data sources:
- **Base blockchain events**: Parsed `Transfer` events, native token transfers, and other balance-affecting transactions that impact treasury addresses
- **Transaction data**: Base chain transaction traces and internal transfers that modify token balances
- **Token metadata**: Contract information and token specifications needed to properly process different token types
- **External price data**: End-of-day token price feeds providing USD valuations for each token held in the treasury

## 3. Step-by-step calculation

### Component A: Treasury balance change extraction
- **Purpose**: Identifies and processes all token balance changes for the designated treasury address
- **Logic**: Extracts token balance changes for the specific treasury address `0x639d2dd24304ac2e6a691d8c1cff4a2665925fee` on the Base blockchain. The calculation processes all types of balance-affecting events including ERC20 transfers, native token transfers, and other transaction types that modify token holdings. Each balance change is captured with its timestamp, token details, and magnitude
- **Key fields**: `timestamp`, `account_address`, `token_address`, `token_symbol`, `balance` (change amount), `chain_id`

### Component B: Cumulative balance calculation
- **Purpose**: Converts balance changes into running total balances for each token
- **Logic**: Applies cumulative sum calculations using window functions to transform individual balance change events into running balances. The calculation partitions data by timestamp grain, chain, account address, and token address to maintain separate running totals for each unique token holding. This ensures accurate tracking of the total quantity held for each token type in the treasury over time
- **Key fields**: Cumulative `balance` values representing total token holdings at each point in time

### Component C: Time series completion
- **Purpose**: Ensures continuous daily data by filling forward missing dates
- **Logic**: Uses forward-filling logic to populate missing dates in the time series, ensuring that each day has balance data for all tokens previously held in the treasury. This prevents gaps in the data that could occur when no balance-changing transactions happen on specific dates, maintaining a complete daily view of treasury holdings
- **Key fields**: Forward-filled `balance` values for complete date coverage

### Component D: USD conversion
- **Purpose**: Converts token balances to USD values using daily price feeds
- **Logic**: Joins the token balance data with end-of-day price feeds based on timestamp, chain, and token address. Uses safe multiplication to handle potential null values during price conversion. Only processes records where balances are positive and daily price data is available. Each token's balance is multiplied by its corresponding USD price to determine the dollar value of that holding
- **Key fields**: `amount` (USD value calculated as balance multiplied by price), with filtering for positive balances only

### Final aggregation
- **Combining components**: All USD-converted token balances for the treasury address are summed together to calculate the total treasury value for each day
- **Currency conversion**: USD conversion uses end-of-day token prices matched by timestamp, chain, and token address
- **Time aggregation**: Data is aggregated at daily intervals with complete time series maintained through forward-filling
- **Final calculation**: The treasury metric represents the sum of all individual token holdings converted to USD, providing the total dollar value of the protocol's treasury assets on each day

*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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