website

twitter

discord

Exchanges (DEX)

Shadow

# Shadow xShadow staked Methodology

## 1. Overview

The xShadow staked metric measures the total amount of xShadow tokens that are currently staked across all users in the ShadowExchange protocol. This metric tracks the cumulative staked supply by processing individual stake and unstake events, maintaining running balances for each user, and aggregating these balances to calculate the total protocol-wide staked amount. The metric answers the business question: "How much xShadow token value is currently locked in staking on ShadowExchange?"

## 2. Data sources

The calculation relies on the following raw data sources:

- **Sonic blockchain events**: Parsed `VoteModule_Deposit_event` logs from ShadowExchange's VoteModule contract capturing xShadow token staking transactions
- **Sonic blockchain events**: Parsed `VoteModule_Withdraw_event` logs from the same contract capturing xShadow token unstaking transactions  
- **Token metadata**: xShadow token contract information including decimal places for proper amount normalization
- **External price data**: End-of-day price feeds for USD conversion of the final staked amounts

## 3. Step-by-step calculation

### Component A: Stake event processing
- **Purpose**: Extract and standardize xShadow token staking events from blockchain data
- **Logic**: Parse `VoteModule_Deposit_event` logs from the Sonic blockchain, filtering out any removed or reverted transactions. Extract the user account address from the `from` field, the staked amount from the `amount` field, and the block timestamp. Standardize the token address to `0x5050bc082ff4a74fb6b0b04385defddb114b2424` and assign the product identifier as `Constant Product`
- **Key fields**: `block_timestamp` for timing, `account_address` for user identification, `amount` for staked quantity, `token_address` for asset identification

### Component B: Unstake event processing  
- **Purpose**: Extract and standardize xShadow token unstaking events from blockchain data
- **Logic**: Parse `VoteModule_Withdraw_event` logs from the Sonic blockchain using identical processing logic as stake events. Extract the same core fields but mark these as unstaking transactions. Filter out removed or reverted transactions and apply the same standardization for token address and product identifier
- **Key fields**: Same as stake events - `block_timestamp`, `account_address`, `amount`, `token_address`

### Component C: Transaction combination and daily aggregation
- **Purpose**: Create a complete transaction history and calculate daily net changes per user
- **Logic**: Combine stake events (as positive amounts) with unstake events (as negative amounts) into a unified transaction stream. Truncate all timestamps to daily boundaries and group transactions by day, user account, and token. Calculate the sum of all amounts within each day-user combination to determine the net daily change in each user's staked position
- **Key fields**: `timestamp` (daily), `account_address`, `outstanding_delta` (net daily change)

### Component D: Running balance calculation
- **Purpose**: Calculate each user's cumulative staked balance over time  
- **Logic**: Apply a cumulative sum window function partitioned by user account and token address, ordered by timestamp. This creates a running total of each user's staked balance, starting from zero and adjusting up or down based on their daily stake/unstake activity. The result is a time series showing each user's total staked amount on each day
- **Key fields**: `staked_supply` (cumulative balance per user), partitioned by `account_address` and `token_address`

### Component E: Time series completion
- **Purpose**: Ensure continuous daily data for all user positions
- **Logic**: Apply forward-filling logic to propagate each user's last known staked balance forward to fill any gaps where no transactions occurred. This ensures every user-day combination has a staked balance value, either from actual transaction activity or carried forward from the previous day
- **Key fields**: Forward-filled `staked_supply` values across all timestamp gaps

### Final aggregation
- **Combining components**: Sum all individual user staked balances by day to calculate the total protocol-wide staked amount. Group by timestamp, chain, and product dimensions while aggregating the `staked_supply` field across all users
- **Currency conversion**: Apply decimal correction based on the xShadow token's decimal places, then convert the corrected amounts to USD using end-of-day price feeds for the target token address `0x3333b97138d4b086720b5ae8a7844b1345a33333`
- **Time aggregation**: Maintain daily timestamp boundaries established in earlier steps, ensuring consistent daily reporting periods
- **Final calculation**: The final metric represents the total USD value of all xShadow tokens currently staked across all users in the ShadowExchange protocol, with gaps filled using zero values for days with no staking activity

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

ShadowSHADOW

xShadow staked

xShadow staked

Competitive landscape