Liquidity Methodology

Liquidity USD Calculation

Liquidity USD represents the total value locked in a trading pair's reserves, expressed in US dollars. For each execution market (AMM liquidity pool), we calculate:

liquidity_usd = reserve0_usd + reserve1_usd

Where reserve0_usd and reserve1_usd are the USD-denominated values of the token reserves held in the pair contract. Reserve balances are read directly from on-chain Sync events emitted by the pair contract, ensuring real-time accuracy.

Canonical Quote Assets

USD pricing relies on identifying a canonical quote asset with a known dollar value. The canonical USDC representation on Goliath Network is:

0xC8410270bb53f6c99A2EFe6eD3686a8630Efe22B

This is the single authoritative USDC contract. Only representations marked as is_canonical_listing_representation = true are used as pricing anchors.

Legacy Representations

Some tokens have multiple on-chain representations (e.g., a bridge-wrapped version and a natively minted version). Representations typed as legacy_erc20 are excluded from default market listings and API responses. Markets involving legacy representations receive a legacy classification and do not appear in standard ticker or summary endpoints.

This ensures that CoinGecko, CoinMarketCap, and other aggregators only receive data for canonical trading pairs, preventing duplicate volume reporting.

Pricing Hierarchy

Asset prices in USD are determined through the following priority order:

• Direct USDC pair — If the asset has an active market paired directly with canonical USDC, the last trade price is used. This provides the highest confidence rating.
• One-hop route — If no direct USDC pair exists, we look for a path through an intermediate asset that itself has a direct USDC price. For example, TOKEN → WXCN → USDC. Confidence: medium.
• Admin override — A manually set price override can be applied via the admin API for assets that lack on-chain pricing routes. These are flagged with low confidence and include an expiration timestamp.
• None — If no pricing route is available, the asset price is reported as null with none confidence. Markets involving unpriced assets will show — for USD-denominated metrics.

Update Frequency

Liquidity figures are recalculated by the calculator service on every new block (approximately every 2 seconds on Goliath Network). The 24-hour rolling statistics are maintained in the market_stats_24h_current table and updated continuously as new trades are indexed.