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Tradable

# Tradable Total value locked Methodology

## 1. Overview

Tradable TVL (Total Value Locked) measures the total USD value of capital deployed across Tradable's investment products. Tradable operates as a yield aggregator in the asset management sector, offering tokenized investment products on zkSync Era. The TVL is calculated by tracking the outstanding supply of investment tokens and converting their value to USD, representing the total capital that investors have committed to Tradable's investment strategies.

## 2. Data sources

The calculation relies on three primary data sources:

- **Blockchain events**: Parsed `Transfer` events from zkSync Era for five specific Tradable investment token contracts
- **Token metadata**: Token decimal information for proper unit normalization
- **External data**: End-of-day price feeds from CoinGecko API for USD conversion of each investment product

## 3. Step-by-step calculation

### Component A: Token mint and burn tracking

- **Purpose**: Captures the flow of investment tokens in and out of circulation to track capital deployment
- **Logic**: The system identifies mint events as token transfers from the zero address (`0x0000000000000000000000000000000000000000`) to user addresses, representing new capital being deployed into investment products. Burn events are transfers from user addresses to the zero address, representing capital being withdrawn. Five specific investment token contracts are monitored on zkSync Era, each representing different investment strategies (APAC diversified finance, North America rent financing, LATAM fintech, and Singapore fintech products)
- **Key fields**: The `block_timestamp` provides timing, `value` contains the token amount, `token_address` identifies the specific investment product, and `from_address`/`to_address` determine whether the event is a mint or burn

### Component B: Outstanding supply calculation

- **Purpose**: Determines the current circulating supply of each investment token, representing active capital deployment
- **Logic**: Token amounts are first normalized using decimal corrections to ensure proper unit standardization. Daily net changes are calculated by aggregating all mints and burns for each token on each day. A running cumulative sum is applied using window functions partitioned by token contract and ordered by date, creating a time series of outstanding supply for each product. Forward-fill logic ensures continuous data availability by carrying forward the last known supply value for any missing dates
- **Key fields**: The `outstanding_supply` field tracks cumulative token circulation, while `timestamp` provides daily granularity for the time series

### Component C: USD conversion and product mapping

- **Purpose**: Converts token supply to USD values using external price data
- **Logic**: Each investment product is mapped to its corresponding CoinGecko identifier for price lookup. The outstanding supply is multiplied by the end-of-day USD price from CoinGecko feeds to determine the USD value of capital deployed in each product. Product mappings include specific CoinGecko IDs like `tradable-apac-diversified-finance-provider-sstn` and `tradable-na-rent-financing-platform-sstn`
- **Key fields**: The `coingecko_id` enables price lookup, `token_symbol` provides product identification, and the resulting `capital_deployed` represents USD value

### Final aggregation

- **Combining components**: The USD values of outstanding supply from all five investment products are summed together using a GROUP BY operation across timestamp dimensions
- **Currency conversion**: USD conversion occurs at the individual product level using CoinGecko prices before aggregation
- **Time aggregation**: Daily boundaries are maintained throughout the calculation, with forward-fill ensuring complete time series coverage
- **Final calculation**: TVL equals the sum of USD-denominated outstanding supply across all Tradable investment products, representing the total capital value currently deployed in the platform's investment strategies

*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.

Tradable

Total value locked

Total value locked

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