ETH: Protocol and DAO Treasuries Excluding Own Tokens
Shown as its 2019–2022 sample; the latest readings and full history are included with Plus.
The same treasuries without each organisation's own token: ether, stablecoins, Bitcoin and other organisations' tokens, each day, stacked to the total.
Why use it. A treasury full of its own token can't sell much of it without moving the price. What is left here is the money that can actually be spent. How to read it. A rising band means the organisation is diversifying or earning fees in other assets. Falling means it is spending them.
Calculation. Organisations covered: Uniswap, Aave, Sky (Maker), Lido, ENS, Compound, Curve, Polygon, ApeCoin, Pendle, Morpho, ether.fi, The Graph, Ondo, Mantle, Maple, LayerZero, World, EigenLayer, Brave (BAT). Only the wallets each organisation publishes as its own treasury, reserve, foundation or ecosystem wallets are counted. Funds on other chains, at custodians or in wallets it does not publish are not. Tokens valued: ETH and WETH at CryptoKeyhole's ETH/USD close, Bitcoin tokens at its BTC/USD close, US-dollar stablecoins at face value, staked-ether tokens at ETH multiplied by their on-chain rate, the coins this site lists at their own price index, and Aave and Spark deposit tokens as the token they stand for. Liquidity-pool shares, vault shares and tokens without a price here are not valued, so the totals err on the low side. An organisation's own token is taken at the market price, with no discount for its size or for lockups. Balances are read on CryptoKeyhole's own Ethereum archive node at the last block of each UTC day. Which wallet holds which token is found by reading every pair on a spaced grid of days, so a token held only between two of those reads can be missed. Today's wallet list applies to all of history. The open day is a labelled partial, valued at the latest prices.