# SolvBTC SolvBTC outstanding supply Methodology

## 1. Overview

The total circulating volume of SolvBTC across all supported blockchain networks is measured by SolvBTC outstanding supply. This metric represents the aggregate value of Bitcoin-pegged assets issued by Solv Protocol. It is utilized as a key indicator of the protocol's scale and the market liquidity of its Bitcoin-derived assets within the decentralized finance ecosystem.

## 2. Data sources

- **Blockchain events**: ERC-20 `Transfer` events from `SolvBTC` contracts, covering Arbitrum, BSC, Ethereum, Base, and 7 other chains
- **External data**: End-of-day price feeds for Bitcoin

## 3. Step-by-step calculation

### Component A: SolvBTC issuance and redemption tracking

- **Purpose**: Capture new issuances and redemptions of the asset to determine net supply changes
- **Logic**: ERC-20 `Transfer` events are monitored from specific `SolvBTC` contract addresses across all supported chains. Asset issuance is identified by transfers originating from the null address, while redemptions are identified by transfers directed to the null address. These events are aggregated to determine the net change in supply for each specific timestamp and chain.
- **Key fields**: `from_address`, `to_address`, `value`

### Component B: SolvBTC cumulative supply aggregation

- **Purpose**: Calculate the total circulating amount of the asset over time
- **Logic**: Daily net changes in the asset volume are calculated by summing all mint and burn activity. A running total of these daily changes is calculated to establish the total outstanding supply. For periods where no transfer activity occurs, the most recent supply balance is carried forward to maintain a continuous daily record.
- **Key fields**: `block_timestamp`, `value`

### Component C: USD conversion and finalization

- **Purpose**: Normalize supply values and convert them to USD for cross-chain comparison
- **Logic**: Raw supply amounts are normalized based on asset decimal precision. The resulting quantities are multiplied by end-of-day Bitcoin price feeds to calculate the total outstanding supply in USD. Daily granularity is maintained using UTC day boundaries, and values are adjusted based on chain-specific data availability.
- **Key fields**: `supply`, `price_usd`

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

SolvBTC outstanding supply

Liquid staking

Bitcoin holders deposit Bitcoin into Solv Protocol and receive yield from onchain strategies (supply-side fees).

Solv Protocol offers financial services for Bitcoin, including lending, liquid staking, yield generation, and fund management.

Solv Protocol team & investors own and govern the protocol. They currently take a cut of the total yield generated (revenue). Solv Protocol's investors include IOSG, Blockchain Capital, Binance Labs, etc.

SolvBTC

SolvBTC outstanding supply

SolvBTC outstanding supply

Chain breakdown