set-wtf: add TVL adapter using on-chain events

[gm01x]

set.wtf - USDT staking protocol

NOTE

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

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

1. Once your adapter has been merged, it takes time to show on the UI. If more than 24 hours have passed, please let us know in Discord.
2. Sorry, We no longer accept fetch adapter for new projects, we prefer the tvl to computed from blockchain data, if you have trouble with creating a the adapter, please hop onto our discord, we are happy to assist you.
3. Please fill the form below only if the PR is for listing a new protocol else it can be ignored/replaced with reason/details about the PR
4. For updating listing info It is a different repo, you can find your listing in this file: https://github.com/DefiLlama/defillama-server/blob/master/defi/src/protocols/data2.ts, you can edit it there and put up a PR
5. Do not edit/push package-lock.json file as part of your changes, we use lockfileVersion 2, and most use v1 and using that messes up our CI
6. No need to go to our discord and announce that you've created a PR, we monitor all PRs and will review it asap

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Name (to be shown on DefiLlama):

SET_WTF (set.wtf)

Twitter Link:

https://x.com/set_wtf

List of audit links if any:

Website Link:

https://www.set.wtf

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

Current TVL:

$340,911 (calculated from onchain transactions as per the PR also available via API at https://www.set.wtf/api/stats

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):

set.wtf is a USDT staking protocol offering 20.00% APY, compounded daily. Simply stake your USDT to start earning passive rewards - paid out daily and claimable anytime.

Token address and ticker if any:

0x2506CB864df6336d93A87C4af2b644fd61cF4d81

Ticker: USDT

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

7 -> Yield (https://defillama.com/protocols/yield)

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

None

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):

Not a fork

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

TVL is calculated from on-chain events as follows:
TVL = sum(user Deposited) − sum(user WithdrawalProcessed)
◦ AdminDeposited and AdminWithdrawn are excluded (those are transfer to the Treasury/Cold Wallets)

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

[llamabutler]

The adapter at projects/set-wtf exports TVL:

ethereum                  340.91 k

total                    340.91 k 

[waynebruce0x]

What happens to USDT deposits? Is there any way to calculate this without using event logs? This is quite resource intensive

[vellos84]

What happens to USDT deposits? Is there any way to calculate this without using event logs? This is quite resource intensive

Approximately 5% of TVL remains on-chain in the staking contract as a liquidity buffer; up to 95% gets sent off-chain to generate returns.

[gm01x]

@waynebruce0x There is no easier way :/
There’s a smart contract function that only returns the "onchain" contract TVL (which is that 5%), but that’s not the full picture, since the total locked is what users deposited, but those funds have since been moved to the trading addresses.