What is the numerator (supply) when calculating the pool saturation level?

Question

The pool saturation level is calculated by dividing supply by the K parameter. What exactly constitutes supply in this equation?

We have the following pots of Ada (from the db-sync ada_pots tables):

• UTXO
• Reserves
• Treasury
• Rewards
• Deposits
• Fees

Obviously, reserves are not counted towards available supply but I'm not sure about the rest of these. Intuitively I would guess that only the "stakeable supply" should count leaving only UTXO and rewards but I'm not sure.

Answer 1

I think what you're looking for is the formula used here to calculate the "circulating supply" from the UTXOs plus "withdrawable rewards" (rewards minus withdrawals). (You should also find the "withdrawal" table in db-sync.)

https://github.com/input-output-hk/cardano-graphql/blob/831e74b8f19b67bb36ab667609ee2a294551ef44/packages/api-cardano-db-hasura/src/HasuraClient.ts#L122

cardano-graphql exposes it through this query:

query adaSupply {
  ada {
    supply {
      circulating
      max
      total
    }
  }
}

https://github.com/input-output-hk/cardano-graphql/blob/f76e944b70c3419ce5c4b56c6a35cdd904afccf0/packages/api-cardano-db-hasura/src/example_queries/ada/adaSupply.graphql

This will currently be 32167734340, and devided by k=500 gives you the current saturation level above ~64M.