# Venus Flux Active loans Methodology

## 1. Overview

Active loans for Venus Flux measures the total value of user deposits that are currently lent out to borrowers. This metric tracks the portion of deposits that borrowers are required to pay interest on, which directly correlates with the protocol's ability to generate revenue. Active loans are tracked across both native Venus Flux markets and integrated infrastructure provided by Instadapp Fluid.

## 2. Data sources

- **Blockchain events**: `AccrueInterest` events from `vBNB`, `VBep20Delegate`, and `VToken` contracts, `MarketAdded` events from `PoolRegistry` contracts, and Instadapp Fluid liquidity resolver state data, 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 Flux market activity tracking

- **Purpose**: Capture the outstanding debt for each lending market within Venus Flux
- **Logic**: Market configurations and pool relationships are identified from `MarketAdded` events emitted by `PoolRegistry` contracts. For these markets, `AccrueInterest` events are parsed from `vBNB`, `VBep20Delegate`, and `VToken` contracts across all supported chains. The total borrows field is extracted from each event to determine the active loan balance for a specific asset and market at a given point in time. Only the most recent event for each market is retained daily to establish an end-of-day snapshot.
- **Key fields**: `totalBorrows` (debt amount), `lending_market_address` (market identification), `asset_address` (token identification)

### Component B: Instadapp Fluid liquidity resolver integration

- **Purpose**: Integrate loan data from the Instadapp Fluid infrastructure used by Venus Flux
- **Logic**: State calls are performed against the Instadapp Fluid liquidity resolver on BNB Chain. The total borrow value is extracted from the resolver's overall token data output for the relevant accounts and assets associated with Venus Flux. These values are processed as snapshots to represent the active loan balances for the integrated liquidity pools.
- **Key fields**: `total_borrow` (debt amount), `token_address` (asset identification)

### Component C: Normalization and USD conversion

- **Purpose**: Aggregate loan balances across all markets and convert them to a unified USD value
- **Logic**: All extracted loan amounts are normalized by the decimal precision defined in the asset metadata. The daily change in active loans is calculated by comparing consecutive snapshots for each unique combination of chain, market, and asset. These daily changes are summed and then converted to USD using end-of-day price feeds. A cumulative sum of these daily deltas is applied to reconstruct the total active loans balance for each day, ensuring that days without event activity are correctly represented through forward-filling of the previous known balance.

*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 Flux

Active loans

Active loans

Chain breakdown