Overcollateralized borrowers deposit funds into Vesta Finance and borrow VST stablecoin.

Vesta Finance is a non-custodial stablecoin protocol built on Arbitrum. Vesta Finance was founded by Mikey Milken and launched in 2022.

VSTA tokenholders own and govern the protocol. They currently take all of the total interest paid by borrowers (revenue).

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Vesta Finance

# Vesta Finance Total value locked Methodology

## 1. Overview

Vesta TVL measures the total value locked in Vesta Finance's stablecoin protocol on Arbitrum. The metric represents the USD value of all outstanding VST stablecoins backed by various collateral assets. The calculation aggregates debt positions across different collateral pools and converts them to USD using VST token prices.

## 2. Data sources

The calculation relies on several key data sources:
- **Blockchain events**: Parsed Arbitrum `ActivePoolVSTDebtUpdated` events from Vesta's ActivePool contract that track changes in VST debt positions across collateral pools
- **Price events**: Parsed Arbitrum `TokenPriceUpdated` events from Vesta's PriceFeed contract that provide VST token pricing updates
- **Token metadata**: Reference data containing token symbols and contract addresses for collateral asset identification
- **External data**: Fallback pricing data with a default VST price of $0.99 for early periods without on-chain price feeds

## 3. Step-by-step calculation

### Component A: VST debt extraction
- **Purpose**: Extracts VST stablecoin debt amounts from Vesta's protocol events
- **Logic**: Processes `ActivePoolVSTDebtUpdated` events from the ActivePool contract on Arbitrum. Handles special address mapping where the null address (0x0000000000000000000000000000000000000000) is mapped to WETH address (0x82af49447d8a07e3bd95bd0d56f35241523fbab1) for proper collateral identification. Converts debt amounts from 18-decimal wei format to standard units by dividing by 10^18. Classifies all positions under the 'Stablecoin issuer' business line
- **Key fields**: `amount` (VST debt in wei), `collateral_address` (collateral token), `token_address` (VST token), transaction metadata

### Component B: Outstanding supply aggregation
- **Purpose**: Aggregates daily VST debt positions by collateral type
- **Logic**: Groups debt updates by day and collateral asset, calculating average debt amounts. Joins with token metadata to resolve collateral asset symbols, with special handling for sGLP token (0x090185f2135308bad17527004364ebcc2d37e5f6). Applies forward-filling to handle missing days, ensuring continuous time series data
- **Key fields**: `outstanding_supply` (daily average debt), `account_name` (collateral symbol), `timestamp` (daily grain)

### Component C: VST price feed
- **Purpose**: Provides USD pricing for VST stablecoin
- **Logic**: Extracts `TokenPriceUpdated` events from Vesta's PriceFeed contract, filtering specifically for VST token (0x64343594ab9b56e99087bfa6f2335db24c2d1f17). Converts prices from 18-decimal format and calculates daily averages. Includes fallback pricing starting from January 1, 2022, with a default VST price of $0.99 for periods without on-chain price data. Applies forward-filling to handle missing price days
- **Key fields**: `price_usd` (VST price), `token_address` (VST token), `timestamp` (daily grain)

### Final aggregation
- **Combining components**: Joins outstanding supply data with VST price data on timestamp and token address to ensure price availability for each debt position
- **Currency conversion**: Multiplies outstanding VST supply amounts by corresponding VST USD prices to get dollar-denominated values
- **Time aggregation**: Maintains daily time boundaries throughout the calculation pipeline
- **Final calculation**: Sums USD-denominated outstanding supply across all collateral types to produce total TVL, applying standard metric finalization with zero-filling strategy for missing periods

*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.

Vesta FinanceVSTA

Total value locked

Total value locked

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