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Tradable

# Tradable Capital deployed Methodology

## 1. Overview

Capital deployed represents the total USD value of outstanding tokens in circulation for Tradable's asset management products. This metric measures the aggregate capital that has been deployed into Tradable's yield aggregator products by tracking the net supply of tokenized investment instruments. The calculation determines outstanding token supply by analyzing mint and burn events, then converts this to USD value to provide a standardized measure of total capital deployment across all Tradable products.

## 2. Data sources

- **zkSync Era Transfer events**: Parsed ERC20 `Transfer` events from zkSync Era blockchain for 5 specific Tradable token contracts, used to identify token mints and burns
- **Token metadata**: Contract-specific decimal place information for proper amount normalization
- **End-of-day price feeds**: CoinGecko price data mapped to specific product IDs for USD conversion of outstanding token supply

## 3. Step-by-step calculation

### Component A: Token mint identification
- **Purpose**: Identify all token mint events for Tradable products
- **Logic**: Extract `Transfer` events from zkSync Era where the `from_address` is the zero address (`0x0000000000000000000000000000000000000000`) and `to_address` is any non-zero address. This pattern identifies token minting transactions. Filter for 5 specific Tradable token contract addresses: US Buy Now Pay Later Finance Provider Senior Secured Term Notes, North America Rent Financing Platform Senior Secured Term Notes, Gov't Contractor Financier Senior Secured Term Notes, LatAm Fintech Senior Secured Term Notes, and Singapore Fintech Senior Secured Loan. Each token is classified under 'Asset management' business line and 'yield_aggregator' business segment.
- **Key fields**: `block_timestamp`, `token_address`, `amount` (from Transfer event value), product classification metadata

### Component B: Token burn identification  
- **Purpose**: Identify all token burn events for Tradable products
- **Logic**: Extract `Transfer` events from zkSync Era where the `to_address` is the zero address and `from_address` is any non-zero address. This pattern identifies token burning transactions. Apply the same token address filtering as mints for the 5 Tradable products. Mark burn amounts as negative values to offset mint amounts in supply calculations.
- **Key fields**: `block_timestamp`, `token_address`, `amount` (marked as negative), product classification metadata

### Component C: Daily supply change aggregation
- **Purpose**: Calculate net daily changes in token supply for each product
- **Logic**: Combine mint events (positive amounts) with burn events (negative amounts) into a unified dataset. Apply decimal place correction using token metadata to normalize amounts to standard units. Aggregate all mint and burn amounts by day for each token contract, summing positive mints and negative burns to get net daily supply changes.
- **Key fields**: `timestamp` (daily), `token_address`, aggregated `amount` (net daily change)

### Component D: Outstanding supply calculation
- **Purpose**: Calculate cumulative outstanding token supply over time
- **Logic**: Use cumulative sum window function to calculate running total of outstanding supply for each token contract. Order transactions chronologically and sum net daily changes to determine total tokens in circulation at any given date. Apply forward-filling logic to extend supply values for any missing dates in the time series, ensuring continuous data coverage.
- **Key fields**: `outstanding_supply` (cumulative amount), `timestamp`, `token_address`

### Final aggregation
- **Combining components**: Outstanding supply values are calculated independently for each of the 5 Tradable token products, maintaining separate supply calculations per token contract
- **Currency conversion**: Convert outstanding supply to USD using end-of-day CoinGecko price feeds. Each Tradable product is mapped to a specific CoinGecko price identifier for accurate price matching during conversion
- **Time aggregation**: Data is aggregated and reported on a daily basis, with forward-filling applied to ensure no gaps in the time series
- **Final calculation**: The capital deployed metric equals the USD value of outstanding token supply, calculated as outstanding supply multiplied by the token's USD price from CoinGecko feeds. This represents the total capital deployed across all Tradable yield aggregator products.

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

Value of capital allocated into investments by an asset manager.

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Capital deployed

Capital deployed

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