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Stablecoin issuers

Societe Generale

# Societe Generale Total value locked Methodology

## 1. Overview

The Société Générale TVL (Total Value Locked) metric measures the total USD value of outstanding stablecoins issued by Société Générale across their stablecoin products. This metric tracks the cumulative net issuance of EUR CoinVertible and USD CoinVertible tokens by monitoring mint and burn events on the Ethereum blockchain, converting the outstanding supply to USD values, and summing across all products to provide a comprehensive view of Société Générale's stablecoin market presence.

## 2. Data sources

- **Ethereum Transfer events**: Parsed ERC20 `Transfer` events for EUR CoinVertible token (`0x5f7827fdeb7c20b443265fc2f40845b715385ff2`) and USD CoinVertible token (`0x5422374b27757da72d5265cc745ea906e0446634`)
- **Token metadata**: Decimal precision information for proper amount calculations
- **Price feeds**: End-of-day token price data for USD conversion
- **Chain metadata**: Ethereum chain information for transaction context

## 3. Step-by-step calculation

### Component A: Mint event identification
- **Purpose**: Identify new token issuance events for both EUR CoinVertible and USD CoinVertible stablecoins
- **Logic**: Filter Ethereum `Transfer` events where the `from_address` equals the null address (`0x0000000000000000000000000000000000000000`), indicating new token creation. Extract the transfer `value`, recipient address (`to_address`), transaction details (`transaction_hash`, `log_index`), and timestamp (`block_timestamp`). Only include non-removed events to ensure data quality.
- **Key fields**: `block_timestamp` for timing, `value` for mint amount, `to_address` for recipient, `token_address` for product identification

### Component B: Burn event identification  
- **Purpose**: Identify token destruction events for both EUR CoinVertible and USD CoinVertible stablecoins
- **Logic**: Filter Ethereum `Transfer` events where the `to_address` equals either the null address (`0x0000000000000000000000000000000000000000`) or the dead address (`0x000000000000000000000000000000000000dead`), indicating token destruction. Extract the same fields as mint events but track these as redemptions.
- **Key fields**: `block_timestamp` for timing, `value` for burn amount, `from_address` for sender, `token_address` for product identification

### Component C: Net supply calculation
- **Purpose**: Combine mint and burn events to calculate daily net supply changes
- **Logic**: Union mint and burn events, negating burn amounts to represent supply decreases. Truncate `block_timestamp` to daily boundaries and group by day, chain, and token address. Sum the net `amount` changes for each day and token combination. Apply decimal corrections using token metadata to ensure proper numerical representation.
- **Key fields**: Daily `timestamp`, `token_address`, `token_symbol`, daily net `amount` change

### Component D: Cumulative outstanding supply
- **Purpose**: Calculate the running total of outstanding tokens over time
- **Logic**: For each token, calculate the cumulative sum of daily net supply changes ordered by timestamp. This running total represents the outstanding supply at each point in time. Partition the calculation by `chain` and `token_address` to maintain separate supply tracking for each token. Forward-fill missing days to ensure continuous time series data.
- **Key fields**: `outstanding_supply` as the cumulative total, `timestamp`, `token_address`

### Component E: USD conversion
- **Purpose**: Convert token amounts to USD values for cross-product aggregation
- **Logic**: Apply end-of-day price feeds to convert outstanding supply amounts from native token units to USD values. Use the `convert_to_usd_and_correct_decimals` macro to handle both currency conversion and decimal precision adjustments simultaneously.
- **Key fields**: USD-denominated `outstanding_supply`, `timestamp`, `product_id`

### Final aggregation
- **Combining components**: Sum the USD-converted outstanding supply across all Société Générale products (EUR CoinVertible and USD CoinVertible) grouped by timestamp, chain, and time grain
- **Currency conversion**: All amounts are converted to USD using end-of-day price feeds before aggregation
- **Time aggregation**: Data is aggregated on daily boundaries with forward-filling to ensure no gaps in the time series
- **Final calculation**: The TVL equals the sum of outstanding supply values across all products, representing the total USD value of Société Générale stablecoins in circulation

*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.

Societe Generale

Total value locked

Total value locked

Competitive landscape

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