add Resolv TVL adapter

[fextr]

Name (to be shown on DefiLlama):

Resolv

Twitter Link:

https://twitter.com/ResolvLabs

List of audit links if any:

https://docs.resolv.im/resources/security

Website Link:

https://www.resolv.im/

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

Current TVL:

15.74 M

Treasury Addresses (if the protocol has treasury)

Chain:

Ethereum

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):

Resolv is a protocol that maintains USR, a stablecoin fully backed by ETH and pegged to the US Dollar. The stablecoin’s delta-neutral design ensures price stability, and is backed by an innovative insurance pool (RLP) to provide additional security and overcollateralization.

Token address and ticker if any:

USR = "0x66a1E37c9b0eAddca17d3662D6c05F4DECf3e110";
RLP = "0x4956b52aE2fF65D74CA2d61207523288e4528f96";
stUSR = "0x6c8984bc7DBBeDAf4F6b2FD766f16eBB7d10AAb4";

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

Basis Trading

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):

In aggregate, two protocol tokens, USR and RLP are backed by the protocol collateral pool on 1:1 basis. USR has a fixed redemption price for $1, and RLP redemption price is updated each 24 hours as (TVL (Collateral Pool) - Supply (USR)) / Supply (RLP).
Protocol TVL is calculated as follows:
TVL (Resolv) = TVL (Collateral Pool) = Supply (USR) + Supply (RLP) * Price (RLP).

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

https://github.com/resolv-im

[llamatester]

The adapter at projects/resolv exports TVL:

ethereum                  15.73 M
ethereum-staking          9.08 M
staking                   9.08 M

total                    15.73 M 

[g1nt0ki]

sorry, dont agree with this way of computing tvl, it should be value of tokens backing not the token supply. Also, I dont fully understand RLP, what is backing it? like in this case, it is minted but I dont see any other tokens being locked.

[fextr]

@g1nt0ki hey!

To address this in more detail:

• USR and RLP token supply is backed by a single collateral pool. The collateral pool is split into (1) on-chain part (treasury smart contract 0xD63b6F7E0745272fB80b55DbC840e7dC29660D82); and (2) off-chain part (wallets with custodians and assets with centralized exchanges). Off-chain part is collateral for CEX futures positions, which hedge ETH price exposure of the collateral pool.

• On the backend, Resolv uses up-to-date value of aggregate collateral pool to update redemption price of RLP, to ensure that aggregate value of USR + RLP token supply equals aggregate value of the collateral pool. RLP price is broadcasted via SC here: https://etherscan.io/address/0x31319866778a5223633bd745780BB6d59406371E

• Architecture / category is similar to Ethena, but the difference is that in Resolv we deliberately decided to keep the majority of collateral pool directly on-chain. In Ethena USDe, the collateral pool is (almost) fully in centralized custodians and is not live trackable in the blockchain.

On this basis, our proposal has been to track TVL from token supply side (substantially same approach as in DL adapter for Ethena). Let us know!

[fextr]

@g1nt0ki Do you need any additional information?

[llamatester]

The adapter at projects/resolv exports TVL:

ethereum                  15.81 M

total                    15.81 M 

[llamatester]

The adapter at projects/resolv exports TVL:

ethereum                  15.58 M

total                    15.58 M 

[fextr]

@waynebruce0x I've fixed all the issues. Let me know if you have any questions