How Renzu calculates its numbers

Last updated 26 September 2026

Every figure on Renzu is read from the Injective chain or rebuilt from it, and each page says when it was read. This page explains how each one is produced and where its limits are, so you can check any number yourself.

Where the data comes from

• Injective nodes (LCD) for chain state: supply, staking, inflation, blocks, the auction module and contract state. Several public nodes are queried, and for live reads they are raced so the first to answer wins.
• The Injective indexer for exchange data: every matched trade, perpetual markets, open positions and the official auction statistics.
• Market prices for converting amounts to US dollars, including the INJ price itself, from CoinGecko. USDT, USDC and USDe are counted at $1. Prices are the only input that does not come from the chain, and pages say so where it matters.

Trading volume

Injective has no public per-market volume feed, and most trackers only count spot trading on Helix and miss the perpetuals, which are the large majority of activity. Renzu rebuilds volume from every matched trade on the exchange module, spot and perpetual, one UTC day at a time:

• Each match is reported twice, once for each side. Only the taker side is summed, so every trade counts once.
• Perpetual notional is execution price times quantity, scaled by the market's quote decimals. Spot notional is price times quantity in the quote token, converted to US dollars (stablecoins at $1, INJ-quoted pairs at the INJ price).
• The indexer caps each query at 1,000 trades, so busy time windows are split until every slice is read in full.
• A nightly job stores each finished day, so the history (over a year) loads instantly and is never re-estimated.

The per-dApp split credits each trade to its fee recipient, the front-end that routed the order. Named front-ends are labelled, unlabelled market-maker wallets are grouped as "Automated MM", and unknown recipients are shown by address rather than guessed.

INJ burned

Injective auctions a basket of fees every round, and the winning bid, paid in INJ, is burned. The all-time total is Injective's own official figure from its auction indexer, the same number injhub.com shows. The latest round comes from the auction module's state on chain. If the official total is unavailable, Renzu falls back to rebuilding it from the rounds it can itemise, including those settled by the Community BuyBack pool, and then words it as "at least", because that rebuild misses a few early rounds.

Price, supply and market cap

INJ total supply is read live from the chain's bank module. INJ has no locked overhang, so circulating supply is approximately the total, and market cap is the live market price times that live supply. Many trackers still use a stale 100 million supply figure, which understates it.

Staking, inflation and chain vitals

• Staked share is bonded INJ from the staking module divided by total supply.
• Staking APR starts from the mint module's annual provisions, minus the community tax, over bonded INJ. The chain's parameters assume faster blocks than it actually produces, so it mints less per real year than the naive formula implies. Renzu corrects for the measured block time, which reproduces the rate injhub and Mintscan show.
• Inflation is the mint module's current rate.
• Block time is measured from real block timestamps. Block height, total transactions and the community pool are read directly from the chain.

Bridged capital and stablecoins

Bridged assets are tracked by their bank denom on Injective: on-chain supply times market price, summed over the significant bridged tokens (stablecoins, then assets such as WETH, WBTC and ATOM). The list is curated, not exhaustive. Stablecoins are USDT, USDC and USDe at $1. A snapshot is stored once a day, and net inflows are the change in total bridged value from one day to the next.

Perpetual markets

• Funding is each market's last realized hourly funding rate, read live. The annualized figure is that hourly rate times 24 times 365, a pace rather than a forecast. Positive means longs pay shorts.
• Open interest comes from a scan of every open position in every active market, refreshed hourly and timestamped. It is counted one-sided: the long notional at the current mark price.
• Long/short skew is the share of open positions that are long, counted by position. By notional it would always be 50%, because every long has a short on the other side.
• Tokenized real-world assets (stocks, FX, metals, energy) are flagged by the market's own settings, mainly its much lower funding-rate cap, not by name alone.

Trader PnL and leaderboards

• Realized PnL uses the chain's own per-fill profit and fee fields: net PnL is profit minus fees, summed, and scaled by the market's quote decimals. Subaccounts are merged into their owner address.
• Leaderboards sum each day's top traders by PnL and by volume over the window. They surface the most notable traders rather than every trader, and the page says so.
• Smart Money Positions takes the top 60 wallets by 30-day realized PnL and reads their live open positions, with the chain's own liquidation price. Unrealized PnL is mark minus entry, times size.
• Win rate and round trips on a wallet's PnL page come from replaying that wallet's own fills.

Token checks, insiders and linked wallets

These are automated readings of public patterns, not verdicts, as the terms explain.

• Impersonation compares a token's name and symbol with Injective's verified token registry: a token using a verified project's ticker without being that token is flagged.
• Launch signals for launchpad tokens come from the launchpad's own holder data and the chain: holder concentration, wallets funded by the same source, and the creator's record on earlier launches.
• Insiders and linked wallets follow who sent each wallet its very first funds. A shared funder can mean one operator or simply a shared exchange withdrawal wallet, so links are graded by how active the connecting wallet is, and busy, exchange-like wallets are downgraded rather than hidden. Renzu never claims two addresses belong to the same person.

Whale feed

The feed watches every perpetual market for large opens, liquidations and closed positions with large profit or loss. It posts when an event clears a size floor, which rises on busy days and falls on quiet ones, with lower floors for tokenized assets. The one-line context on each post is written by an AI model from the chain-verified numbers only.

Transaction explanations

The transaction decoder reads the transaction from the chain, works out every amount, fee and US dollar value in code, and only then asks an AI model to phrase the explanation from those verified numbers. The numbers are never generated by the model, but the wording can still be wrong, so the raw transaction is always one click away.

Timestamps, freshness and corrections

Every page shows when its data was read. Live reads are cached for a few minutes, perp snapshots refresh hourly, and daily figures update each night for the finished UTC day. If you find a number you think is wrong, write to support@renzu.xyz with the page and the figure, and we will check it against the chain.

The figures on Injective Pulse are free to reuse under CC BY 4.0 with credit to Renzu.