Liquidity providers deposit funds into Zyberswap and receive trading fees from traders (supply-side fees).

Zyberswap is a non-custodial exchange protocol built on Arbitrum. Zyberswap was founded by anonymous team and launched in 2023.

ZYB tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue).

twitter

discord

etherscan

website

Exchanges (DEX)

Zyberswap

# Zyberswap Total value locked Methodology

## 1. Overview

Total Value Locked (TVL) for Zyberswap represents the total USD value of assets deposited in the protocol's liquidity pools across both v2 and v3 versions on Arbitrum. The metric is calculated by tracking net deposits (deposits minus withdrawals) across all trading pairs and converting these flows to USD values. TVL answers the business question: "What is the total value of assets currently locked in Zyberswap's liquidity pools?"

The calculation approach combines reserve tracking for v2 pools with event-based flow tracking for v3 pools, accounting for liquidity provision, trading activity, and flash loan fees.

## 2. Data sources

The calculation relies on several types of blockchain data and external sources:

- **Zyberswap v2 contract events**: Parsed `Pair_Sync_event` logs from Arbitrum that track reserve changes in v2 liquidity pools, along with `SwapDeployer_NewSwapPool_event` and `Factory_PairCreated_event` logs for pool creation
- **Zyberswap v3 contract events**: Parsed Arbitrum event logs including `AlgebraPool_Mint_event` (liquidity provision), `AlgebraPool_Collect_event` (liquidity withdrawal), `AlgebraPool_Swap_event` (trading activity), `AlgebraPool_Flash_event` (flash loans), `AlgebraPool_Fee_event` (fee tier changes), and `AlgebraFactory_Pool_event` (pool creation)
- **Zyberswap v2 flash loan events**: Parsed `SwapFlashLoan_TokenSwap_event` and `Pair_Swap_event` logs from Arbitrum for flash loan activity tracking
- **Arbitrum transaction data**: Transaction records providing user addresses and timestamps for event context
- **Token metadata**: Token symbol and decimal information for proper amount calculations
- **End-of-day price feeds**: Daily USD price data for all tokens to enable value conversion

## 3. Step-by-step calculation

### Component A: Trading pair identification
- **Purpose**: Establish the universe of Zyberswap trading pairs and their token metadata
- **Logic**: Extract pool creation events from both v2 and v3 factory contracts on Arbitrum. For v2, combine events from `SwapDeployer_NewSwapPool_event` (which can create pools with multiple token pairs from an array) and `Factory_PairCreated_event`. For v3, use `AlgebraFactory_Pool_event`. Join with token metadata to obtain decimals and symbols for proper amount calculations and pool naming
- **Key fields**: Pool addresses (`account_address`), token addresses (`token0_address`, `token1_address`), token decimals (`token0_decimals`, `token1_decimals`), and pool names combining token symbols

### Component B: V2 asset flow tracking via reserves
- **Purpose**: Calculate daily net asset flows for v2 pools using reserve change methodology
- **Logic**: Process `Pair_Sync_event` logs that emit current reserve amounts for each token in v2 pools. For each day and pool, identify the last reserve amounts reported. Calculate the difference between consecutive days' final reserves to determine net asset flows. For the first day of pool activity, use the full reserve amount as the initial deposit. Apply decimal corrections using token metadata
- **Key fields**: Reserve amounts (`reserve0_amount`, `reserve1_amount`), corrected by dividing by 10^token_decimals

### Component C: V3 asset flow tracking via events
- **Purpose**: Calculate daily net asset flows for v3 pools by combining multiple event types
- **Logic**: Aggregate four types of v3 events daily. Include `AlgebraPool_Mint_event` amounts as positive flows (liquidity additions). Include `AlgebraPool_Collect_event` amounts as negative flows (liquidity removals). Include `AlgebraPool_Swap_event` amounts as net flows (trading activity that affects pool composition). For flash loans from `AlgebraPool_Flash_event`, multiply token amounts by the pool's fee tier percentage obtained from `AlgebraPool_Fee_event` to capture fees retained by the pool. Apply decimal corrections using trading pair metadata
- **Key fields**: Token amounts (`token0_amount`, `token1_amount`) from various events, fee tiers (`fee_tier`) for flash loan adjustments

### Component D: V2 flash loan portfolio tracking
- **Purpose**: Track net deposits for v2 flash loan activity through a specific account
- **Logic**: Monitor balance changes for account `0x969f7699fbb9c79d8b61315630cdeed95977cfb8` which appears to handle v2 flash loan flows. Use portfolio calculation methodology to track daily balance changes for this account across all tokens, treating balance increases as net deposits to the protocol
- **Key fields**: Account balances (`balance`) converted to `net_deposits` values

### Component E: USD conversion and aggregation
- **Purpose**: Convert all token amounts to USD values and combine flows from all sources
- **Logic**: Join each component's token amounts with end-of-day price feeds to convert to USD. For each trading pair and day, multiply token0 amount by token0 USD price and token1 amount by token1 USD price, then sum these USD values to get total net deposits. Combine USD-converted flows from v2 asset flows, v3 asset flows, and v2 flash loan flows into a single net deposits dataset
- **Key fields**: Price data (`price_usd`) multiplied with corrected token amounts to produce `net_deposits` in USD

### Final aggregation
- **Combining components**: Sum net deposits across all pools, versions (v2 and v3), and flow types for each day to get protocol-wide daily net deposit amounts
- **Currency conversion**: All flows are converted to USD using end-of-day price feeds matched by date, token address, and chain
- **Time aggregation**: Data is aggregated to daily boundaries using day-truncated timestamps, with all events within a day contributing to that day's net deposits
- **Final calculation**: TVL equals the cumulative sum of daily net deposits from protocol inception, with gaps filled using zeros for days without activity. The finalize metric macro applies this cumulative logic with a fill-zeros strategy to ensure continuous time series data

*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.

ZyberswapZYB

Total value locked

Total value locked

Competitive landscape