# Bridged Token Backing: Locked vs Minted Supply

> Bridged token backing, checked daily: minted supply on each chain against tokens locked in escrows and lockboxes on the home chain, with unbacked gaps flagged.

Markdown copy of https://voltfincrypto.com/apps/bridged-token-backing

**Question:** Is each bridged token's supply on other chains matched by tokens locked on its home chain right now?

- Kind: Dashboard in Voltfin Vantage
- Topic: [Layer 2s](https://voltfincrypto.com/topics/layer-2)
- Chains: Multi-chain, Ethereum, Base, Arbitrum, OP Mainnet, BNB Chain, Avalanche
- Status: Planned. The data is not published yet, so this page states no figure; each figure will open its receipt when it is.

A lock-and-mint bridge holds tokens on their home chain and issues the same amount on another chain. If the bridge is exploited or misconfigured, it can mint copies that nothing backs. This dashboard compares, token by token, the supply minted on other chains with the balance locked on the home chain at matching blocks, then shows the gap.

A small gap is normal while transfers are in flight: a deposit is locked before it is minted, and a withdrawal is burned before it is released. The dashboard separates those pending amounts from the rest, so a gap that persists or grows stands out.

It covers canonical rollup bridges, LayerZero OFT adapters and other lock-and-mint designs for major tokens. Each comparison names both blocks and both reads, so a reader can check the backing for themselves.

## Blueprint

### Overview

Backing across every tracked token and where the gaps are.

- **Bridged tokens tracked** (count): Pairs of bridged token and bridge checked at the latest day-end block.
- **Tokens with a shortfall** (count): Pairs whose locked supply, after in-flight transfers, is below their minted supply at the latest read.
- **Largest shortfall** (%): The largest gap between minted and locked supply as a share of minted supply, and the token it belongs to.
- **In flight now** (USD): The value of bridge transfers started but not yet completed across every tracked pair at the latest read.
- **Backing by token and bridge**: For each token and bridge: home chain, minted supply on each chain, locked supply, the in-flight amount and the backing ratio, with both blocks.

### One token

Locked against minted supply for a chosen token over time.

- **Backing ratio** (ratio): Locked supply divided by minted supply for the chosen token at the latest read, after in-flight transfers.
- **Gap in tokens** (tokens): Minted supply minus locked supply for the chosen token, in token units, after in-flight transfers.
- **Minted supply by chain**: Where the chosen token's bridged supply sits, by chain, at the latest read.
- **Locked vs minted over time** (tokens): The home-chain escrow balance and the total minted supply of the chosen token at each day-end block.

Filters: Token (Every tracked bridged token); Period (Last month, quarter or year).

## How it will be measured

- Minted supply is totalSupply() of each bridged representation on each chain at the last block of the day; locked supply is balanceOf the escrow, lockbox or adapter contract on the home chain at the matching block.
- Backing is locked supply divided by minted supply summed across chains. A ratio below one, after in-flight transfers are accounted for, is a shortfall.
- In-flight amounts are bridge transfers that have started but not finished: withdrawals initiated but not yet finalized, deposits locked but not yet minted and OFTSent messages without a matching OFTReceived.
- Burn-and-mint tokens have no escrow; for them the check matches each mint on one chain to a burn on another, and compares the cross-chain total with the issuer's supply.
- USD values use Chainlink feeds at the same block, and every gap is shown in token units first, so a price never hides a shortfall.

## Data it needs

- `token_supply_daily` (to build): Total supply of each registry token on each chain at day end: wrapped BTC, liquid staking tokens, tokenized assets and other tracked tokens.
- `bridge_flows_daily` (to build): Deposits into and withdrawals out of canonical and major third-party bridges by chain, token and day, plus escrow balances at day end.
- `native_prices_daily` (to build): Reference prices of major assets read from on-chain oracle feeds (Chainlink latestRoundData) at each day's last block, with each round's update time.
- Source: totalSupply() of bridged representations on each chain at day-end blocks
- Source: balanceOf of the lockbox, OFT adapter or canonical bridge escrow on the home chain at the matching block
- Source: Bridge events: OFTSent and OFTReceived, ERC20DepositInitiated and DepositFinalized, WithdrawalInitiated and ERC20WithdrawalFinalized
- Source: A registry pairing each bridged token with its home token, escrow contract and bridge design
- Source: Chainlink feeds at the same blocks for USD values

## Questions

### What is a bridged token?

A token on one chain that stands for a token whose home is another chain. In a lock-and-mint design the original sits in an escrow contract on the home chain while the copy circulates elsewhere, so the copy is only as good as that escrow.

### What makes a bridged token unbacked?

Copies minted without a matching amount locked on the home chain. It happens when a bridge's verification is bypassed, a key is compromised or a bug lets someone mint freely. Holders of the copies then share a claim on less than they hold.

### Why is there sometimes a small gap?

Bridging takes time. Deposits are locked first and minted once the message arrives; withdrawals from optimistic rollups are burned first and released only after the challenge period. The dashboard shows those in-flight amounts on their own line.

### Does full backing mean a bridge is safe?

No. Backing shows that the escrow holds enough today. It says nothing about who can move the escrow, how messages are verified or whether the contracts can be upgraded; the LayerZero DVN checker and the contract upgrade tracker cover some of those risks.

## Glossary

- **Lock and mint**: A bridge design that locks tokens in an escrow on the home chain and mints the same amount on another chain.
- **Burn and mint**: A design with no escrow: tokens are burned on one chain and minted on another, so supply moves rather than being copied.
- **Lockbox**: The escrow contract that holds home-chain tokens for an omnichain token, such as a LayerZero OFT adapter.
- **In-flight transfer**: A bridge transfer that has started on one chain and not yet completed on the other.

## Related apps

- [LayerZero DVN Checker: Bridge Verifier Settings](https://voltfincrypto.com/apps/layerzero-dvn-checker)
- [Ethereum L2 TVL: Value Locked in Rollup Bridges](https://voltfincrypto.com/apps/ethereum-l2-tvl)
- [Wrapped Bitcoin Supply by Chain and Issuer](https://voltfincrypto.com/apps/wrapped-bitcoin-supply-by-chain)
- [Liquid Restaking Tokens: Backing and Exchange Rates](https://voltfincrypto.com/apps/liquid-restaking-backing)
- [Proof of Reserves Tracker: Exchange Wallet Balances](https://voltfincrypto.com/apps/proof-of-reserves-tracker)
- [Ethereum TPS: Mainnet and Layer 2 Transactions per Second](https://voltfincrypto.com/apps/ethereum-tps)

Build it in Voltfin Studio: https://app.voltfincrypto.com/signup?next=%2F