Definitions

All economic state from ERC-20E assets listed on Elevado Markets derives from contract-level accounting.

Let 𝑋 be an ERC-20E contract.

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Total Value Locked (TVL)

TVL represents the total on-chain collateral held in the contract 𝑋.

$$TVL_X = Collateral_{held}$$

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Supply

Supply represents the current supply outstanding of contract 𝑋.

$$Supply_X = Total\ outstanding\ tokens\$$

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Net Asset Value (NAV)

NAV defines intrinsic per-token value of contract 𝑋.

NAV is defined as TVL divided by Supply.

$$NAV_X = \frac{TVL_X}{Supply_X}$$