Data model

All objects live in the Postgres schema loop. Migrations: supabase/migrations/.

Tables

Table	Grain	Notes
markets	market	pool, staking vault, underlying token
vaults	(market, vault)	CDP vaults and their collateral
series	series	how each value is read: contract, function, args, decimals, unit
snapshots	(chain, ts)	one per sampled grid point: block number/time, failed calls
observations	(series, ts)	raw numeric(78,0) exact uint256, value numeric scaled
runs	run	audit log of every indexer/export run with stats
export_cursors	destination	Dune export watermark

ts is always the grid instant (UTC, top of the hour). snapshots.block_timestamp is the timestamp of the block actually read, which is at or just before ts.

Views

View	Grain	Columns
observations_enriched	(series, ts)	observations + catalogue context
market_hourly	(market, hour)	tvl, available_liquidity, total_borrowed, utilization, borrow_apr, supply_apr, lp_supply, lp_price, slp_supply, slp_price, staked_tvl, locked_tvl, collateral_value, vault_debt, active_vaults
vault_hourly	(vault, hour)	collateral_balance, spot_price, collateral_value, total_debt, debt_ceiling, pool_borrowed, ltv, liquidation_ratio, liquidation_penalty, max_ltv, capacity_used, drop_to_liquidation
market_daily, vault_daily	(…, day)	last hourly row of each UTC day
market_yield_daily	(market, day)	realized_apy_7d/30d/90d (from lpX share price), supply_apr, borrow_apr, utilization, pass_through
market_flows_daily	(market, day)	tvl_change = interest + net_flow, borrow_change
vault_share_daily	(vault, day)	debt_share, collateral_share
market_concentration_daily	(market, day)	debt_hhi, top_vault_share, borrowing_vaults
oracle_daily	(vault, day)	spot_price, prev_spot_price, spot_change
series_latest	series	latest value
chain_freshness	chain	last snapshot, lag, failed calls
coverage_daily	(chain, day)	snapshots, reverted calls, max block lag
series_health	series	observations, reverted snapshots, last observed

Amounts in the views are in the market's underlying token (WETH, USDC, WBNB, BTCB). Rates and ratios are fractions (0.0473 = 4.73%).

Series

146 series across 4 markets. Run loop-indexer registry show --json for the full list, or query loop.series.

Entity	Metric	Call	Scale
pool	total_supply	totalSupply()	pool decimals
pool	expected_liquidity	expectedLiquidity()	underlying decimals
pool	available_liquidity	availableLiquidity()	underlying decimals
pool	total_borrowed	totalBorrowed()	underlying decimals
pool	borrow_rate	baseInterestRate()	RAY (1e27)
pool	supply_rate	supplyRate()	RAY (1e27)
pool	locked_shares	balanceOf(locker)	pool decimals
staking	total_supply	totalSupply()	staking decimals
staking	total_assets	totalAssets()	pool decimals
vault	spot_price	spotPrice()	WAD (1e18) — see quirks
vault	total_debt	totalDebt()	WAD (1e18), always
vault	collateral_balance	collateral.balanceOf(vault)	collateral decimals
vault	debt_ceiling	pool.creditManagerDebtLimit(vault)	underlying decimals
vault	pool_borrowed	pool.creditManagerBorrowed(vault)	underlying decimals
vault	liquidation_ratio	vaultConfig()[1]	WAD (1.1 = 110%)
vault	liquidation_penalty	liquidationConfig()[0]	WAD (0.99 = 1% penalty)

Derived metrics

Metric	Definition
TVL	expectedLiquidity: cash + outstanding debt + accrued interest owed to lenders
Utilization	total_borrowed / expected_liquidity
lpX price	expected_liquidity / lp_supply (underlying per pool share)
slpX price	staking.total_assets / staking.total_supply (pool shares per staked share)
Staked TVL	staking.total_assets × lp_price
Locked TVL	locked_shares × lp_price
Collateral value	collateral_balance × spot_price (in underlying, at the vault's own oracle)
LTV	total_debt / collateral_value
Capacity used	LTV × liquidation_ratio; ≥ 100% means the aggregate position is liquidatable
Drop to liquidation	1 − LTV × liquidation_ratio: collateral price fall before liquidation
Realized APY (n days)	(lp_price_t / lp_price_{t−n})^(365/n) − 1, net of any losses
Pass-through	supply_apr / (borrow_apr × utilization): borrower interest reaching lenders
Interest / net deposits	lp_supply_{t−1} × Δlp_price / Δlp_supply × lp_price_t; they sum exactly to ΔTVL
Debt HHI	Σ debt_share² across vaults; 100% = one vault holds all debt

Protocol quirks the model accounts for

All of these were found by reading the chain, and each is encoded in the registry or the series templates.

• Vault debt is WAD on every market. On lpUSD (USDC, 6 decimals) totalDebt() returns 2236e18 while the pool's creditManagerBorrowed returns 2236e6.
• Rates are RAY. baseInterestRate() and supplyRate() are annual rates scaled by 1e27.
• One oracle uses 1e30. The pendle-syrupusdc-aug25 vault's spotPrice() is WAD × 1e12; the registry sets spot_price_decimals: 30, and registry verify checks that every spot price lands in a plausible range.
• Flash lenders are credit managers. Each pool's first creditManagers() entry is a flash lender, not a CDP vault. They are listed as flash_lenders and excluded.
• An unregistered vault. The ynCoBTCk vault points at the lpBTC pool but was never added as a credit manager, so it has no pool-side series.
• Stale oracles revert. spectra-sdeusd.spotPrice() reverts at recent blocks. Those hours have no spot_price row, so collateral_value and ltv are null rather than zero.

Findings in the data

• syrupUSDC vault borrowed against dust. On 18 June 2025 the pendle-syrupusdc-aug25 vault held 120,010 USDC of debt against 0.000000059 LP tokens of collateral (worth well under a cent). Read through the vault's own 1e30-scaled oracle as if it were 1e18, that dust looks like about $150k of collateral, which is what made the position look healthy on-chain. Debt peaked at 124,010 USDC and was later reduced. 4,000 USDC is still outstanding against 0.000000002 LP tokens (as of 2 Nov 2026).
• sdeUSD oracle failure. On 7 November 2025 the spectra-sdeusd oracle reported 0.209, a tenth of the previous day's 2.09, which put the vault at 759% LTV. From 8 November spotPrice() reverts. The vault's 2,236 USDC of debt is unchanged.

The dashboard's "Data findings" section flags every vault-day with LTV above 100% automatically.