Balancer V2 QA (Ethereum) Schema Version 1.3.0 Subgraph Version 1.1.0 Methodology Version 1.0.0 about subgraphs

[this-username-is-taken]

This is ready for review. The Ethereum deployment only has 300k blocks (0.25%) left to index.

[bye43]

Description	Value
Subgraph Reviewed	https://subgraphs.messari.io/subgraph?endpoint=https://api.thegraph.com/subgraphs/name/messari/balancer-v2-ethereum&tab=protocol
Date Reviewed	August 1 2022
Schema Version	1.3.0
Subgraph Version	1.1.2
Methodology Version	1.0.0
Evidence Spreadsheet	https://docs.google.com/spreadsheets/d/1-mhYY2wHs-UfQwNfa_PCBChgrtFwv58hUbU0m0yyrfk/edit?usp=sharing

Metrics To Review

Protocol Metrics

Section	Metric	Issue
financialsDailySnapshots	totalValueLockedUSD	Huge spike on 07/27/2022 and 07/28/2022 that is throwing scaling off. I am guessing this is from a weirdly priced pool. Besides these dates, TVL looks good.
financialsDailySnapshots	dailySupplySideRevenueUSD	This looks off to me. There is >30% difference for most of the dates that I checked.
financialsDailySnapshots	cumulativeSupplySideRevenueUSD	Daily is off, so cumulative will also be
financialsDailySnapshots	dailyProtocolSideRevenueUSD	This is looking very off. Balancer did not have protocol revenue till after 01/01/2022, so those values should be 0 on the subgraph. Also looks like the fee split between supply side and revenue side are incorrect. Currently 02/01/2022 is outputting data that displays fees as split 50/50, but this should be split 10/90, as the balancer proposal for changing fees to 50/50 did not happen till after Feb. Link to proposal - https://vote.balancer.fi/#/proposal/0x03e64d35e21467841bab4847437d4064a8e4f42192ce6598d2d66770e5c51ace
financialsDailySnapshots	cumulativeProtocolSideRevenueUSD	Daily is off, so cumulative will also be
financialsDailySnapshots	dailyTotalRevenueUSD	These values also look off here (>30% difference for most dates checked).
financialsDailySnapshots	cumulativeTotalRevenueUSD	Daily is off, so cumulative will also be

Pool Overview

Pool	Metric	Issue
AKITA Copper Launch	TVL (USD)	Pool TVL is off compared to Balancer UI . Balancer UI outputting 7.4m and subgraph outputting 400k. This is most likely a problem with supported token pricing I am guessing though. Link to Balancer UI - https://app.balancer.fi/#/pool/0xc065798f227b49c150bcdc6cdc43149a12c4d75700020000000000000000010b
ALL POOLS	Base Yield %	I know this is not part of the actual subgraph development, but the equation is stating that the Daily Supply Side revenue for all the pools is 0.
SOME POOLS	Reward Tokens	Seems like the majority of larger TVL pools should have reward tokens in BAL, as Balancer has liquidity mining incentives. Link to Balancer UI with pools showing staking APY - https://app.balancer.fi/#/

Pool Metrics

Pool	Section	Metric	Issue
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	dailySupplySideRevenueUSD	Outputting 0
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	cumulativeSupplySideRevenueUSD	There are values here, which do not look that far off, but will recheck once daily is fixed
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	dailyProtocolSideRevenueUSD	Outputting 0
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	cumulativeProtocolSideRevenueUSD	There are values here, which do not look that far off, but will recheck once daily is fixed
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	dailyTotalRevenueUSD	Outputting 0
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	cumulativeTotalRevenueUSD	There are values here, which do not look that far off, but will recheck once daily is fixed
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	dailyVolumeByTokenUSD - BAL	Does not look the price of the token is being correctly applied here. Values are too small and I would expect to see that the volume of both tokens in USD is = to 2x daily volume, which is not the case
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	dailyVolumeByTokenUSD - WETH	Same as above
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	outputTokenSupply B-80BAL-20WETH	Outputting 0, which is incorrect. Link to etherscan of output token - https://etherscan.io/token/0x5c6ee304399dbdb9c8ef030ab642b10820db8f56
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	outputTokenPriceUSD B-80BAL-20WETH	Same as above
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	stakedOutputTokenAmount - B-80BAL-20WETH	The BPTs from balancer can be locked into a contract in exchange for veBAL, so I believe there should be an output here. But if this does not count, I also checked the stETH/WETH pool and there is no output for this field, when these BPTs can be staked for liquidity mining rewards
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	rewardTokenEmissionAmount	Same as above. This pool looks like it receiving emissions via BAL, but is also could be a weird edge case since it is a veToken, but I also checked the stETH/WETH pool and there was no output here when there should be emissions of BAL here. See link to pool and hover over APY - https://app.balancer.fi/#/pool/0x5c6ee304399dbdb9c8ef030ab642b10820db8f56000200000000000000000014
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	rewardTokenEmissions - USD	Same as above

[bye43]

Description	Value
Subgraph Reviewed	https://subgraphs.messari.io/subgraph?endpoint=https://api.thegraph.com/subgraphs/id/QmRhKJaZesH6WiZ29Jh6joeEXcJk1K9XbCW1Etj6DE3Moy&tab=protocol&version=pending
Date Reviewed	August 15 2022
Schema Version	1.3.0
Subgraph Version	1.1.0
Methodology Version	1.0.0
Evidence Spreadsheet	https://docs.google.com/spreadsheets/d/1G05mD9iukWLeR87nEwcCSSJpH7lb9IdmVDmDcfjNt_o/edit?usp=sharing

Metrics To Review

Protocol Metrics

Section	Metric	Issue
financialsDailySnapshots	totalValueLockedUSD	There is another large spike on 05/22/2022 to 87b, which looks incorrect (guessing this is a weird pool ). There are a few dates (7/27/2022, 7/01/2022, 06/01/2022, 08/01/2022) that are >20% difference than dune, but it could be we are blacklisting certain pools?
financialsDailySnapshots	dailyVolumeUSD	This looks more accurate than the last version, but 05/22/2022 is a 2670% difference and 08/01/2022 is a 79% difference when compared to the dune dashboard. Link to dune dashboard (V2 Volume USD Column) - https://dune.com/queries/515765/998459
financialsDailySnapshots	cumulativeVolumeUSD	Daily is off, so cumulative will also be
financialsDailySnapshots	dailySupplySideRevenueUSD	This looks off to me. There is >40% difference for most of the dates that I checked and on 08/01/2022 there is a 1841% difference. Link to dune query I am comparing against (V2 Supply-Side Revenue Column) - https://dune.com/queries/515765/998459
financialsDailySnapshots	cumulativeSupplySideRevenueUSD	Daily is off, so cumulative will also be
financialsDailySnapshots	dailyProtocolSideRevenueUSD	Does not look like fees are being split correctly here (fees should split be 0/100, 10/90, 50/50, but I am seeing inconsistent splits like 8/92,27/73, etc) and the values still seem very off compared to dune dashboard. Dates, such as 05/01/2022, 04/01/2022, 02/01/2022, are >80% difference. Link to dune dashboard (V2 Protocol-Side Revenue USD Column) - https://dune.com/queries/515765/998459
financialsDailySnapshots	cumulativeProtocolSideRevenueUSD	Daily is off, so cumulative will also be
financialsDailySnapshots	dailyTotalRevenueUSD	This also look very off. Many dates that are >40% difference with dune dashboard. It also looks like on 08/01/2022 dailyTotalRevenue is 2.24% of dailyVolumeUSD, which seems too high since most of the balancer pool swap fees are => 1%. Link to dune dashboard (V2 Fees Column) - https://dune.com/queries/515765/998459
financialsDailySnapshots	cumulativeTotalRevenueUSD	Daily is off, so cumulative will also be

Pool Metrics

Pool	Section	Metric	Issue
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	dailySupplySideRevenueUSD	This looks very off compared to the dune dashboard with some values being up to 100% off. Furthermore, does not look like the fee split is being applied correctly like in the protocol metrics sections. Link to dune dashboard (LP Revenue Column) - https://dune.com/queries/547472/1036171?1.+Pool_address_t6c1ea=0x5c6ee304399dbdb9c8ef030ab642b10820db8f56
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	cumulativeSupplySideRevenueUSD	Off because daily is
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	dailyProtocolSideRevenueUSD	Similar comments to dailySupplySideRevenueUSD. Values are not as far off, but does not look like the correct fee split is being applied to protocol revenue. Link to dune dashboard (Protocol Revenue Column) - https://dune.com/queries/547472/1036171?1.+Pool_address_t6c1ea=0x5c6ee304399dbdb9c8ef030ab642b10820db8f56
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	cumulativeProtocolSideRevenueUSD	Off because daily is
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	dailyTotalRevenueUSD	Overall, the values are roughly 40%-80% difference from dune. Link to dune dashboard (Fees Column) - https://dune.com/queries/547472/1036171?1.+Pool_address_t6c1ea=0x5c6ee304399dbdb9c8ef030ab642b10820db8f56
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	cumulativeTotalRevenueUSD	Off because daily is
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	outputTokenPriceUSD B-80BAL-20WETH	This is 0 when I believe there should be a price. Balancer dashboard has a price - https://app.apy.vision/pools/balancerv2_eth-BAL-WETH-0x5c6ee304399dbdb9c8ef030ab642b10820db8f56
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	stakedOutputTokenAmount - B-80BAL-20WETH	The BPTs from balancer can be locked into a contract in exchange for veBAL, so I believe there should be an output here. But if this does not count, I also checked the stETH/WETH and WETH/WBTC pool and there is no output for this field, when BPTs can be stacked for liquidity mining rewards
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	rewardTokenEmissionAmount	It looks like on the balancer UI that there are BAL rewards for this pool, but subgraph is not ouputting anything. Might be the case that there is not, but going to make a note. Link to Balancer UI - https://app.balancer.fi/#/pool/0x5c6ee304399dbdb9c8ef030ab642b10820db8f56000200000000000000000014
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	rewardTokenEmissions - USD	Same as above
Balancer stETH Stable Pool	liquidityPoolDailySnapshots	ALL Daily Snapshots	No output for all daily snapshot metrics. Error - "cannot read properties of undefined (reading 'value')"
Balancer stETH Stable Pool	liquidityPoolHourlySnapshots	rewardTokenEmissionAmount	While the Balancer 80 BAL 20 WETH might not have BAL rewards, this pool does for sure. Subgraph is outputting null value, which is incorrect. Looks like rewards are good though for other pools like WETH/WBTC. Might be because of the additional LDO rewards.
Balancer stETH Stable Pool	liquidityPoolHourlySnapshots	rewardTokenEmissions - USD	Same as above

[bye43]

Description	Value
Subgraph Reviewed	https://subgraphs.messari.io/subgraph?endpoint=https://api.thegraph.com/subgraphs/id/QmXwtdnSMuibCVfeqH7MTkZxe3Ha6fooYBXr2qZdKRRnV9&tab=protocol&version=pending
Date Reviewed	August 23 2022
Schema Version	1.3.0
Subgraph Version	1.1.0
Methodology Version	1.0.0
Evidence Spreadsheet	https://docs.google.com/spreadsheets/d/1pPGreHlEMHKz2s4SsZz9bnGiKzodhR4ZQC-MJ89eypg/edit?usp=sharing

Metrics To Review

Protocol Metrics

Section	Metric	Issue
financialsDailySnapshots	dailyVolumeUSD	06/01/2022 and 03/01/2022 are showing about a 25% and 39% difference respectively. In the previous version these were a less than 2% difference looks like this is due to these three pools (0x7b50775383d3d6f0215a8f290f2c9e2eebbeceb2, 0x9210f1204b5a24742eba12f710636d76240df3d0, 0x2bbf681cc4eb09218bee85ea2a5d3d13fa40fc0c).Current version query - https://api.thegraph.com/subgraphs/name/messari/balancer-v2-ethereum/graphql?query=%7B%0A++liquidityPoolDailySnapshots+%28orderBy%3A+dailyVolumeUSD%2C+orderDirection%3A+desc%2C+where%3A+%7Btimestamp_gte%3A+1654041600%2C+timestamp_lte%3A+1654127999%7D%29+%7B%0A++++pool+%7B%0A++++++name%0A++++++id%0A++++%7D%0A++++dailyVolumeUSD%0A++++timestamp%0A++%7D%0A%7D. Pending version query - https://api.thegraph.com/subgraphs/id/QmXwtdnSMuibCVfeqH7MTkZxe3Ha6fooYBXr2qZdKRRnV9/graphql?query=%7B%0A++liquidityPoolDailySnapshots+%28orderBy%3A+dailyVolumeUSD%2C+orderDirection%3A+desc%2C+where%3A+%7Btimestamp_gte%3A+1654041600%2C+timestamp_lte%3A+1654127999%7D%29+%7B%0A++++pool+%7B%0A++++++name%0A++++++id%0A++++%7D%0A++++dailyVolumeUSD%0A++++timestamp%0A++%7D%0A%7D
financialsDailySnapshots	dailySupplySideRevenueUSD	Current implementation is using the incorrect revenue methodology. This is being addressed
financialsDailySnapshots	cumulativeSupplySideRevenueUSD	Current implementation is using the incorrect revenue methodology. This is being addressed
financialsDailySnapshots	dailyProtocolSideRevenueUSD	Current implementation is using the incorrect revenue methodology. This is being addressed
financialsDailySnapshots	cumulativeProtocolSideRevenueUSD	Current implementation is using the incorrect revenue methodology. This is being addressed
financialsDailySnapshots	dailyTotalRevenueUSD	Current implementation is using the incorrect revenue methodology. This is being addressed
financialsDailySnapshots	cumulativeTotalRevenueUSD	Current implementation is using the incorrect revenue methodology. This is being addressed

Pool Metrics

Pool	Section	Metric	Issue
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	dailySupplySideRevenueUSD	Current implementation is using the incorrect revenue methodology. This is being addressed
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	cumulativeSupplySideRevenueUSD	Current implementation is using the incorrect revenue methodology. This is being addressed
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	dailyProtocolSideRevenueUSD	Current implementation is using the incorrect revenue methodology. This is being addressed
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	cumulativeProtocolSideRevenueUSD	Current implementation is using the incorrect revenue methodology. This is being addressed
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	dailyTotalRevenueUSD	Current implementation is using the incorrect revenue methodology. This is being addressed
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	cumulativeTotalRevenueUSD	Current implementation is using the incorrect revenue methodology. This is being addressed
Balancer 80 BAL 20 WETH	liquidityPoolDailySnapshots	outputTokenPriceUSD B-80BAL-20WETH	I think this should be TVL/outputTokenPriceUSD. I am calculating around $14.6, but the subgraph is outputting around $5.7.
Balancer stETH Stable Pool	liquidityPoolDAilySnapshots	stakedOutputTokenAmount	The schema output looks like there is a value for this, but subgraph.xyz is not outputting anything and when I query the subgraph looks like null value - https://api.thegraph.com/subgraphs/name/messari/balancer-v2-ethereum/graphql?query=%7B%0A++liquidityPool+%28id%3A+%220x32296969ef14eb0c6d29669c550d4a0449130230%22%29+%7B%0A++++name%0A++++dailySnapshots+%28orderBy%3A+timestamp%2C+orderDirection%3A+desc%29+%7B%0A++++++stakedOutputTokenAmount%0A++++++timestamp%0A++++%7D%0A++%7D%0A%7D
Balancer Aave Boosted StablePool (USD)	liquidityPoolDailySnapshots	stakedOutputTokenAmount	Like Balancer stETH Stable Pool, there is a value for this in the schema, but subgraph.xyz is outputting 0

[bye43]

Description	Value
Subgraph Reviewed	https://subgraphs.messari.io/subgraph?endpoint=https://api.thegraph.com/subgraphs/name/messari/balancer-v2-ethereum&tab=protocol
Date Reviewed	September 1 2022
Schema Version	1.3.0
Subgraph Version	1.1.0
Methodology Version	1.0.0
Evidence Spreadsheet	https://docs.google.com/spreadsheets/d/1tcwXVZRRevHBHEEevMwHh9HUHaJGhNbF0BfarWUclFA/edit?usp=sharing

Metrics To Review

Protocol Metrics

Section	Metric	Issue
financialsDailySnapshots	dailySupplySideRevenueUSD	Dates before 04/01/2022 look off, because of Element finance pools. This is being addressed now
financialsDailySnapshots	cumulativeSupplySideRevenueUSD	Dates before 04/01/2022 look off, because of Element finance pools. This is being addressed now
financialsDailySnapshots	dailyProtocolSideRevenueUSD	Dates before 04/01/2022 look off, because of Element finance pools. This is being addressed now
financialsDailySnapshots	cumulativeProtocolSideRevenueUSD	Dates before 04/01/2022 look off, because of Element finance pools. This is being addressed now
financialsDailySnapshots	dailyTotalRevenueUSD	Dates before 04/01/2022 look off, because of Element finance pools. This is being addressed now
financialsDailySnapshots	cumulativeTotalRevenueUSD	Dates before 04/01/2022 look off, because of Element finance pools. This is being addressed now

Pool Metrics

Pool	Section	Metric	Issue
All pools	liquidityPoolDailySnapshots	cumulativeTotalRevenueUSD	Outputting cumulative supply side. This is also being fixed.
Balancer Aave Boosted StablePool (USD)	liquidityPoolDailySnapshots	dailyProtocolSideRevenueUSD	Should be addressed with revenue changes
Balancer Aave Boosted StablePool (USD)	liquidityPoolDailySnapshots	stakedOutputTokenAmount	Like Balancer stETH Stable Pool, there is a value for this in the schema, but subgraph.xyz is outputting 0. This should be fixed
Balancer Aave Boosted StablePool (USD)	liquidityPoolDailySnapshots	outputTokenPriceUSD - bb-a-USD: Balancer Aave Boosted StablePool (USD)	This is outputting as 0, but guessing this is because of the huge token supply output. This is being fixed

[bye43]

@this-username-is-taken @harsh9200 I am going to close this issue, as the current deployment is going to be used for Mainnet. This version has a few errors that will have minimal effect on Protocol Metrics and they are going to be follow up on this issue here: #983