# Venus Active loans Methodology

## 1. Overview

Active loans measures the total value of assets that have been borrowed from Venus and are currently accruing interest. This metric represents the outstanding debt balance within the protocol's lending markets, including both the core Venus markets and the Venus Flux product (powered by Instadapp Fluid infrastructure). Active loans serves as a key indicator of the protocol's capital utilization and its capacity to generate interest-based revenue.

## 2. Data sources

- **Blockchain events**: `AccrueInterest` events from `vBNB`, `VBep20Delegate`, and `VToken` contracts, plus `get_overall_tokens_data` state calls from liquidity resolver contracts, covering BNB Chain, Ethereum, Arbitrum, Base, and 4 other chains
- **External data**: End-of-day price feeds and asset metadata

## 3. Step-by-step calculation

### Component A: Venus Core debt extraction

- **Purpose**: Capture the outstanding debt balance for core Venus lending markets
- **Logic**: `AccrueInterest` events are parsed from `vBNB`, `VBep20Delegate`, and `VToken` contracts across all supported chains. The `totalBorrows` value is extracted from these events, representing the total amount of the underlying asset currently lent out to borrowers. Markets are mapped to their underlying assets and decimal precision using hardcoded market configurations and asset metadata.
- **Key fields**: `totalBorrows` (debt amount), `lending_market_address` (contract identification), `block_timestamp` (timing)

### Component B: Venus Flux debt extraction

- **Purpose**: Capture the active loan balance for the Venus Flux product
- **Logic**: State call data is parsed from the Instadapp Fluid liquidity resolver on BNB Chain using the `get_overall_tokens_data` function. The `total_borrow` field is extracted for each asset address managed by the Fluid infrastructure. This captures the interest-bearing debt specific to the Venus Flux automated liquidity management layer.
- **Key fields**: `total_borrow` (debt amount), `token_address` (asset identification), `timestamp` (timing)

### Component C: Normalization and USD conversion

- **Purpose**: Standardize loan balances and convert values to USD
- **Logic**: Loan amounts are normalized by the decimal precision of each underlying asset. Daily values are determined by identifying the most recent recorded borrow balance for each market within a UTC day boundary. Gaps between event emissions are filled by propagating the last known balance forward. Normalized balances are multiplied by end-of-day price feeds to calculate the USD value.
- **Key fields**: `price_usd` (valuation), `decimals` (normalization)

### Component D: Final aggregation

- **Purpose**: Consolidate active loans across all markets and products
- **Logic**: USD values are aggregated by product (Venus and Venus Flux), chain, and asset. The data is grouped with daily granularity to provide a comprehensive view of the protocol's total active debt.
- **Key fields**: `timestamp`, `chain_id`, `product_id`, `active_loans` (USD value)

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

Value of loans currently outstanding to borrowers.

Active loans

Lending

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).

Venus

Active loans

Active loans

Chain breakdown