Try Quests to earn cryptoOpyn - Total Value Locked
What is squeeth?
> The squeeth contract is design for users to long or short a special index like eth², as an implementation of a Power Perp. > > We call the eth² index we're trading squeeth (squared-eth), and the squeeth contract is the collection of contracts that let you trade this index. > > Mechanism-wise, the squeeth contract works like a perpetual swap, where people can go long or short on an index, and funding is charged either from the long or short, based on the market price relative to the index. > > An important difference to other perpetual protocols is that there is no leverage on long positions. This means that it is impossible to be liquidated on a long squeeth position, and allows the long position to be a standard fungible ERC-20 token that can be traded separately (in Uniswap pools, for example, or as collateral for loans). This composability is a major advantage to the design, making it it easy to integrate squeeth into other projects.
Total Value Locked (TVL)
> Тotal value locked represents the number of assets that are currently being staked in a specific protocol.
What Is Total Value Locked (TVL)?
If you have been using DeFi tracking sites, the chances are high that you have run into total value locked (TVL) as a reference point. To put it simply, total value locked represents the number of assets that are currently being staked in a specific protocol: this value is not meant to represent the number of outstanding loans, but rather the total amount of underlying supply that is being secured by a specific application by DeFi completely.
Total value locked is a metric that is used to measure the overall health of the DeFi and yielding market. You can track total value locked on many services.
There are three main factors that are taken into consideration when calculating and looking at decentralized financial service's market cap TVL ratio: calculating the supply, the maximum supply as well as the current price.
In order to get the current market cap, you need to multiply the circulating supply by the current price. In order to get to the TVL ratio, you would need to take that market cap number and divide it by the TVL of the service.
From a theoretical standpoint, the higher the TVL ratio is, the lower the value of an asset needs to be; however, this is not always the case when we look at reality. One of the easiest ways to implement the TVL ratio is to help determine if a DeFi asset is undervalued or overvalued, and this can be done by looking at the ratio. If it is under 1, it is undervalued in most cases.
Introduction
> In this bounty we want to calculate Total Value Locked (TVL) for Opyn Squeth (osQTH) contract. To do this, we must first find the list of osQTH pools and then calculate the TVL value based on that
To address this question, we use the ethereum.core and ethereum schemas, and by using the dim_dex_liquidity_pools table in the ethereum.core schema, we obtain the list of all pools related to osQTH (token0, token1, pool_address) and then using the table erc20_balances available in the ethereum schema, we obtain the token balance of each of the pools
We show all data for 2022 onwards
1 → osQTH liquidity pool list → Query
Conclusion of part 2
> According to the results obtained from part 2, the amount of TVL for osQTH is currently equal to 1506154.18 according to the data available in the flipsidecrypto database.
> According to the charts, the amount of TVL for osQTH has been on an upward trend since the beginning of 2022 until Apr 3, and > > the highest amount of TVL can be seen on this date with about 16M (USD), and after this date, the TVL has a downward trend, which is currently at the lowest Its amount has reached almost 1.5M (USD). That is, we are witnessing a 90% reduction in TVL