Liquidity providers deposit funds into Wombat Exchange and receive WOM token rewards.

Wombat Exchange is a non-custodial exchange protocol built on BNB Chain. Wombat Exchange was founded by Alex Lee and launched in April 2022.

WOM tokenholders own and govern the protocol. They currently receive all trading fees paid by traders (revenue). Wombat Exchange’s investors include Binance Labs, Animoca Brands and Hailstone Ventures.

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Wombat Exchange

# Wombat Exchange Treasury Methodology

## 1. Overview

The Wombat treasury metric measures the total USD value of all tokens held in Wombat's official treasury addresses. This metric provides insight into the protocol's financial reserves and asset management by tracking the daily value of tokens across all holdings. The calculation involves tracking balance changes for specific treasury addresses, converting token amounts to USD using daily price feeds, and aggregating the total value.

## 2. Data sources

- **BSC token events**: Parsed `Transfer` events from BNB Smart Chain (BSC) to track token movements into and out of treasury addresses
- **BSC transaction traces**: Transaction execution traces from BSC to capture internal token transfers and balance changes
- **Token metadata**: Token contract information including symbols, decimals, and contract addresses for proper balance calculations
- **End-of-day price feeds**: Daily token price data in USD for converting token balances to dollar values
- **Chain availability data**: Information about data availability and reliability for different blockchain networks

## 3. Step-by-step calculation

### Component A: Balance change tracking
- **Purpose**: Identifies and tracks all token balance changes for Wombat's treasury addresses
- **Logic**: The system processes BSC blockchain events to identify all token transfers involving the treasury address `0xc37a89cdb064ac2921fcc8b3538ac0d6a3aadf48`. This includes both incoming and outgoing transfers across all ERC20 tokens. The `calculate_token_balance_changes` macro extracts balance change events by parsing `Transfer` events and transaction traces, filtering for the specific treasury address. Each balance change is recorded with timestamp, token address, and net change amount.
- **Key fields**: `timestamp`, `chain_id`, `account_address`, `token_address`, `token_symbol`, and `balance` (the net change amount)

### Component B: Cumulative balance calculation
- **Purpose**: Converts balance changes into running token balances over time
- **Logic**: The system calculates cumulative token balances using window functions that sum balance changes over time, partitioned by token and account address. This creates a running total for each token held by the treasury address. The calculation orders events by timestamp to ensure proper chronological accumulation of balance changes.
- **Key fields**: `balance` field is transformed from net changes to cumulative running balances using sum window functions

### Component C: Date continuity and forward-filling
- **Purpose**: Ensures daily data continuity by filling gaps in the time series
- **Logic**: The `fill_forward` macro creates a complete daily time series for each token held by the treasury. When no balance changes occur on a given day, the system carries forward the last known balance for each token. This ensures the treasury value can be calculated for every day, even when no token movements occurred.
- **Key fields**: `timestamp` is expanded to create daily records, with `balance` values forward-filled for continuity

### Component D: USD conversion
- **Purpose**: Converts token balances from native token amounts to USD values
- **Logic**: Each token balance is joined with end-of-day price feeds using timestamp, chain, and token address as matching keys. The system multiplies token balances by corresponding USD prices using `safe_multiply` to handle cases where price data might be unavailable. Only positive balances are included in the conversion process. The price feeds use daily granularity to ensure consistent valuation timing.
- **Key fields**: `amount` represents the USD value calculated by multiplying `balance` by `price_usd`

### Final aggregation
- **Combining components**: All token USD values are summed together to calculate the total treasury value for each day. The system aggregates across all tokens held by the treasury address to produce a single daily treasury value.
- **Currency conversion**: USD conversion occurs using end-of-day price feeds matched by timestamp, chain, and token address, ensuring consistent daily valuation
- **Time aggregation**: Data is aggregated at daily boundaries using the `timestamp_grain` field set to 'day'
- **Final calculation**: The total treasury value equals the sum of all individual token USD values for each day. The `finalize_metric_treasury` macro applies standardized formatting with a 'fill_zeros' strategy for missing data, and chain availability filters ensure data quality standards are met.

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

Total value of a project's onchain treasury, including its native token.

Wombat ExchangeWOM

Treasury

Treasury

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