Lenders deposit funds into Venus and receive interest payments from borrowers (supply-side fees).

Venus is a non-custodial lending protocol built on BNB chain. Venus was founded by Joselito Lizarondo and launched in 2020.

XVS tokenholders own and govern the protocol. They currently take a cut of the total interest paid by borrowers (revenue).

governance

github

twitter

discord

etherscan

website

Lending

Venus

Venus | Data breakdown

# Venus Total value locked Methodology

## 1. Overview

Total value locked (TVL) measures the total value of assets deposited into Venus and Venus Flux. For Venus, both "idle" assets (deposits remaining in the protocol after accounting for borrows and outflows) and "borrowed" assets (active loans) are included. For Venus Flux, where Fluid is utilized, TVL is calculated as the total value of assets supplied to the underlying liquidity resolver. TVL is used as a key indicator of the protocol's scale and its capacity for generating interest-based revenue across multiple lending markets and isolated pools.

## 2. Data sources

- **Blockchain events**: `Mint`, `Mint2`, `MintBehalf`, `Redeem`, `Redeem2`, `RedeemFee`, `Borrow`, `RepayBorrow`, `ReservesAdded`, `ReservesReduced`, `SpreadReservesReduced`, and `AccrueInterest` events from `VToken`, `VBep20Delegate`, `VBep20DelegateXVS`, and `vBNB` contracts, covering BSC, Ethereum, Arbitrum, Base, and 4 other chains
- **Blockchain state calls**: `get_overall_tokens_data` state calls from Fluid liquidity resolver contracts on BSC for Venus Flux
- **External data**: End-of-day price feeds for all supported lending assets

## 3. Step-by-step calculation

### Component A: Venus idle asset tracking

- **Purpose**: Calculate the value of deposited assets currently held in Venus smart contracts
- **Logic**: Net flows are tracked by aggregating specific on-chain events. Positive flows (deposits) are captured from `Mint`, `Mint2`, `MintBehalf`, `RepayBorrow`, and `ReservesAdded` events. Negative flows (withdrawals/utilization) are captured from `Redeem`, `Redeem2`, `RedeemFee`, `Borrow`, `ReservesReduced`, and `SpreadReservesReduced` events. A cumulative running balance is maintained for each asset within every lending market to determine the total idle inventory.
- **Key fields**: `amount`, `token_address`, `lending_market_address`

### Component B: Venus active loan tracking

- **Purpose**: Measure the value of assets currently being borrowed from Venus lending pools
- **Logic**: Borrow balances are updated based on interest accrual. `AccrueInterest` events are parsed from `VToken` and related contracts to extract the latest total borrow balance for each market. The principal and accrued interest of all outstanding loans are represented by these balances.
- **Key fields**: `amount`, `token_address`, `lending_market_address`

### Component C: Venus Flux liquidity tracking

- **Purpose**: Calculate the total value of assets deposited into the Venus Flux product
- **Logic**: Balances for Venus Flux are retrieved using state calls to the Fluid liquidity resolver. The `total_supply` and `total_borrow` fields are extracted for the specific account addresses associated with Venus Flux on BSC. Unlike the event-based tracking used for core lending pools, a point-in-time snapshot of the total liquidity supplied to the resolver is provided by these state calls.
- **Key fields**: `total_supply`, `total_borrow`, `token_address`, `account_address`

### Component D: Normalization and USD conversion

- **Purpose**: Aggregate all TVL components into a single USD-denominated metric
- **Logic**: All asset quantities from idle balances, active loans, and liquidity resolver data are normalized by decimal precision. These quantities are multiplied by end-of-day asset prices. Total TVL is calculated as the sum of idle and borrowed components across all Venus and Venus Flux markets. Values are aggregated by chain and day using UTC boundaries.
- **Key fields**: `tvl`, `price_usd`, `decimals`

*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.

VenusXVS

Total value locked

Total value locked

Competitive landscape

Chain breakdown