add Reservoir TVL on Ethereum

[eukadish]

NOTE

Please enable "Allow edits by maintainers" while putting up the PR.

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• If you would like to add a volume adapter please submit the PR here.
• If you would like to add a liquidations adapter, please refer to this readme document for details.

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Name (to be shown on DefiLlama): Reservoir Protocol

Twitter Link: https://x.com/__Reservoir

List of audit links if any: https://www.halborn.com/audits/fortunafi/reservoir-updated

Website Link: https://www.reservoir.xyz/

Logo (High resolution, will be shown with rounded borders):

Current TVL:

Treasury Addresses (if the protocol has treasury)

Chain:

Coingecko ID (so your TVL can appear on Coingecko, leave empty if not listed): (https://api.coingecko.com/api/v3/coins/list)

Coinmarketcap ID (so your TVL can appear on Coinmarketcap, leave empty if not listed): (https://api.coinmarketcap.com/data-api/v3/map/all?listing_status=active,inactive,untracked&start=1&limit=10000)

Short Description (to be shown on DefiLlama): Reservoir is a pioneering stablecoin protocol designed to be the most trusted and scalable solution in decentralized finance. Offering a suite of products, including the rUSD stablecoin, srUSD liquid yielding asset, and trUSD term-based yielding asset, Reservoir is at the forefront of DeFi innovation. With a focus on real-world asset integration and consistent yield generation, Reservoir is poised to play a crucial role in onboarding the next trillion dollars of assets into the decentralized economy.

Token address and ticker if any:

Category (full list at https://defillama.com/categories) *Please choose only one: Stablecoins

Oracle Provider(s): Specify the oracle(s) used (e.g., Chainlink, Band, API3, TWAP, etc.):

Implementation Details: Briefly describe how the oracle is integrated into your project:

Documentation/Proof: Provide links to documentation or any other resources that verify the oracle's usage:

forkedFrom (Does your project originate from another project):

methodology (what is being counted as tvl, how is tvl being calculated):

Github org/user (Optional, if your code is open source, we can track activity):

[llamatester]

The adapter at projects/reservoir-protocol exports TVL:

ethereum                  0

total                    0 

[g1nt0ki]

hi @eukadish how are new stablecoins minted? we track value deposited into a protocol rather than token supply as tvl, in this case, only the USDC in PSM (https://etherscan.io/address/0x4809010926aec940b550d34a46a52739f996d75d) can be treated as tvl, but I am not sure how trUSD works

[eukadish]

@g1nt0ki Well USDC goes into the PSM and then it gets moved out to RWAs. We would like to show the total of all our liabilities individually, is that not possible? Otherwise, the method assets on the Credit Enforcer shows our TVL.

[g1nt0ki]

so, we have listed to kinds of RWA projects, one is tokenization like tokenized US treasury bonds, here we count the value of circulating tokens. The other is, RWA lending, in these cases, we count the value left on the contract on chain as tvl, and and part moved off chain under borrowed, feel like your protocol falls under the latter category.

[eukadish]

Why does it show the rUSD as "balance" instead of "totalSupply" and not added to the TVL?

[g1nt0ki]

because we are currently not track rUSD token price, and even if we do, we cant use it as tvl, please check my previous comment

[eukadish]

We would like to show the totalSupply of our tokens in a Lllama dashboard. How can I do this? Can I use the PeggedIssuanceAdapter? I don't see any other project using it ...

[g1nt0ki]

hi @eukadish yeah, we can list in stablecoin as well, but tvl of the protocol needs to be tracked before that

[llamatester]

The adapter at projects/reservoir-protocol exports TVL:

ethereum                  5.27 M

total                    5.27 M 

[eukadish]

Got it @g1nt0ki I think should be good now. I think should be good now for merge.

[g1nt0ki]

hi @eukadish feel like you missed the part where amount lent out should be counted as borrowed and only the USDC left in the contract on chain could be counted as tvl.

something like this: https://github.com/DefiLlama/DefiLlama-Adapters/blob/main/projects/credix/index.js

[g1nt0ki]

.

[eukadish]

hi @eukadish feel like you missed the part where amount lent out should be counted as borrowed and only the USDC left in the contract on chain could be counted as tvl.

something like this: https://github.com/DefiLlama/DefiLlama-Adapters/blob/main/projects/credix/index.js

That's not what we are trying to show though. We're basically trying to display our net liabilities, which in our case are always less than our net assets which are all lent out.

Maybe I should make a PR to those other repos I had before? For the other tokens.