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Calculating statement
Jan 2024
Feb 2024
Mar 2024
Apr 2024
May 2024
Jun 2024
GMV
Trading volume
$1.2M
$2.5M
$3.7M
$4.9M
$6.2M
$7.4M
Transaction volume
$2.5M
$4.9M
$7.4M
$9.9M
$12.3M
$14.8M
Transfer volume
$3.7M
$7.4M
$11.1M
$14.8M
$18.5M
$22.2M
Notional trading volume
$4.9M
$9.9M
$14.8M
$19.7M
$24.7M
$29.6M
Income statement
Trading volume
$1.2M
$2.5M
$3.7M
$4.9M
$6.2M
$7.4M
Transaction volume
$2.5M
$4.9M
$7.4M
$9.9M
$12.3M
$14.8M
Transfer volume
$3.7M
$7.4M
$11.1M
$14.8M
$18.5M
$22.2M
Notional trading volume
$4.9M
$9.9M
$14.8M
$19.7M
$24.7M
$29.6M
Market data
Trading volume
$1.2M
$2.5M
$3.7M
$4.9M
$6.2M
$7.4M
Transaction volume
$2.5M
$4.9M
$7.4M
$9.9M
$12.3M
$14.8M
Transfer volume
$3.7M
$7.4M
$11.1M
$14.8M
$18.5M
$22.2M
Notional trading volume
$4.9M
$9.9M
$14.8M
$19.7M
$24.7M
$29.6M

Transparent and auditable methodologies

Every metric uses a transparent and auditable methodology, no black boxes.

Aave

Methodology

Total value locked

1. Overview

AAVE TVL (Total Value Locked) measures the total USD value of assets deposited in AAVE lending protocols across multiple blockchain networks. The metric combines both idle deposits (assets available for borrowing) and active loans (borrowed assets) to represent the complete economic value secured by the protocol. This comprehensive approach captures the full utilization of deposited capital, as borrowed funds remain part of the protocol's TVL while generating yield for depositors.

2. Data sources

The AAVE TVL calculation relies on several categories of blockchain data:

  • Token transfer events: Parsed Transfer events from Ethereum, Arbitrum, Avalanche, Base, Optimism, Polygon, Gnosis, BSC, ZKSync Era, Sonic, Scroll, Linea, and Plasma networks tracking movements to and from aToken addresses
  • Debt token events: Aave protocol-specific Mint and Burn events from VToken (variable debt) and SToken (stable debt) contracts across all supported networks
  • Market initialization events: ReserveInitialized events from Aave LendingPoolConfigurator contracts that establish which tokens are available for lending
  • Rebasing token events: Lido protocol events including PostTotalShares (v1) and TokenRebased (v2) for handling stETH rebasing mechanics
  • Price feeds: End-of-day token price feeds for USD conversion
  • Token metadata: Token decimal information and symbols for proper value calculation

3. Step-by-step calculation

Component A: Market identification

  • Purpose: Identify all valid AAVE lending markets across supported blockchains
  • Logic: Parse ReserveInitialized events from AAVE v2 and v3 LendingPoolConfigurator contracts to extract underlying token addresses, aToken addresses, stable debt token (sToken) addresses, and variable debt token (vToken) addresses. Map these to specific lending pools using hardcoded pool configurator address mappings that identify the pool name and main pool address for each network and version combination.
  • Key fields: underlying_token_address, atoken_address, stoken_address, vtoken_address, pool_address, pool_name

By the numbers

1,000
Projects
UniswapAavepump.funHyperliquid
1,000
Assets
USDCUSDTBlackRock
200
Chains
EthereumSolanaBase
70
Metrics

"We're frequent and happy users of the data and dashboards available on Token Terminal. Token Terminal has done a great job focusing on standardizing KPIs that make fundamental analysis of digital assets faster and easier."

Cosmo Jiang

Cosmo Jiang

Pantera

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