Traction & Metrics Methodology
Updated August 2026. This page is what makes the numbers audit-proof: every figure the project publishes follows these rules, and anyone can recompute them from the chain.
Labeling policy (the honesty rails)
- Every figure carries a "testnet" label inline and a date.
- The demo asset (LEOD — a purpose-built SEP-8
auth_required|auth_revocableasset) is named wherever a figure depends on it. - Testnet figures are demonstration figures. All activity is on the LEOD demo asset on testnet, where tokens carry no monetary value; the figures demonstrate protocol correctness under the full wrap → pledge → borrow path and are not AUM, customer funds, or a claim of adoption — and are never presented as any of those.
- Forward scope is never stated as done — Autopilot, consoles, and the Blend production path are "Tranche scope," full stop.
How each metric is computed
| Metric | Definition | Recompute it |
|---|---|---|
| Wrapped value ("AUM") | vault.total_shares × vault.share_price at the live Reflector NAV, in 7-dec USDC terms | vault.share_price / total_shares via simulateTransaction on CB64EH…LHUS |
| Active wallets | Unique addresses with a non-zero pool position (collateral_shares > 0 or debt > 0) — not funded addresses, not trustlines | mini_pool.position(addr) per tracked address |
| Utility ratio | Share of minted ld-shares currently pledged as pool collateral | Σposition.collateral_shares ÷ vault.total_shares |
| Health factors | Per-position health_factor from the pool, SCALE-scaled | mini_pool.health_factor(addr) |
| NAV | The live Reflector SEP-40 price (LEOD → USDC par-NAV proxy), fail-closed on staleness | oracle_adapter.get_nav(LEOD) |
| Liquidations | Count of executed liquidation events | Pool events on stellar.expert |
The /performance page computes all of the above server-side
via simulateTransaction against public RPC — no indexer, no database, nothing to trust but the
chain. The page's baked fallback snapshot is dated and regenerated from the same reads.
What we will never do
Present seeded figures as organic; publish an undated figure; count a wallet without an on-chain
position; or claim a forward deliverable as shipped. Discrepancies between any published figure and
this methodology are drift — file them in docs/DRIFT.md.