# Venus Flux Total value locked Methodology

## 1. Overview

Total value locked (TVL) for Venus Flux measures the total value of all assets deposited into the protocol's markets via the Instadapp Fluid integration and isolated lending pools. This metric represents the aggregate value of liquidity provided to the lending markets, including both idle assets and active loans. TVL for Venus Flux is utilized as a primary indicator of market depth and the scale of integration between Venus and the Instadapp Fluid infrastructure, as well as the growth of isolated market liquidity across multiple chains.

## 2. Data sources

- **Blockchain events**: `get_overall_tokens_data` function calls from `LiquidityResolver` contracts, plus `Mint`, `Mint2`, `MintBehalf`, `Borrow`, `Redeem`, `Redeem2`, `RepayBorrow`, `ReservesAdded`, `ReservesReduced`, and `AccrueInterest` events from `VToken`, `vBNB`, and `VBep20Delegate` contracts, covering BNB Chain, Ethereum, Arbitrum, Base, and 4 other chains
- **External data**: End-of-day price feeds for deposited assets

## 3. Step-by-step calculation

### Component A: Instadapp Fluid market data extraction

- **Purpose**: Capture the underlying supply and borrow balances for the Venus Flux integration.
- **Logic**: `total_supply` and `total_borrow` values are parsed from the output of `get_overall_tokens_data` function calls to the Instadapp `LiquidityResolver` contract. These values represent the total liquidity and active debt within the Venus Flux markets. The data is filtered specifically for the BNB Chain environment where the Venus Flux product is deployed.
- **Key fields**: `total_supply`, `total_borrow`, `token_address`

### Component B: Lending market event extraction

- **Purpose**: Capture liquidity changes and active loan balances from isolated lending markets.
- **Logic**: `Mint`, `Mint2`, `MintBehalf`, `RepayBorrow`, and `ReservesAdded` events are parsed as positive liquidity flows, while `Redeem`, `Redeem2`, `Borrow`, and `ReservesReduced` events are parsed as negative liquidity flows. `AccrueInterest` events are utilized to track the total outstanding borrow balance (active loans) for each market. These events are extracted from `VToken`, `vBNB`, and `VBep20Delegate` contracts across all supported chains.
- **Key fields**: `amount`, `in_mintAmount`, `in_borrowAmount`, `in_repayAmount`, `in_redeemAmount`, `in_totalBorrows`, `token_address`

### Component C: USD normalization and conversion

- **Purpose**: Normalize raw asset quantities and convert them into a common currency for aggregation.
- **Logic**: Raw asset amounts are normalized by the decimal precision associated with each specific asset's metadata. The resulting normalized quantities are multiplied by end-of-day price feeds to determine the value in USD.
- **Key fields**: `token_address` (asset identification), `decimals` (precision), `price_usd` (valuation)

### Component D: Daily aggregation and cumulative TVL calculation

- **Purpose**: Aggregate daily market snapshots and ensure a continuous time series of total value locked.
- **Logic**: The values for idle liquidity (derived from deposits minus borrows) and active loans (derived from borrows and interest accrual) are aggregated by day and asset. Daily changes are calculated and then summed cumulatively over time to maintain the running balance of TVL. Forward-filling logic is applied to ensure that the metric remains consistent on days where no state changes are recorded, and gaps are filled with the last known balance.
- **Key fields**: `timestamp` (UTC day boundaries), `delta_tvl` (daily change), `tvl` (cumulative balance)

*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.

Total value locked

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

Total value locked

Total value locked

Chain breakdown