> For the complete documentation index, see [llms.txt](https://docs.kpk.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.kpk.io/funds/infrastructure/onchain-accounting/balance-adapters/erc20-default.md).

# ERC20Default

The default wallet adapter. It reports plain ERC-20 and native-token balances held directly by an account, for every asset on its inclusion list. It is auto-deployed by `NAVCalculator.initialize()` and cannot be removed.

* **Type:** Plain adapter
* **protocolSubId:** `keccak256("wallet")`
* **Source:** [`ERC20DefaultBalanceAdapter.sol`](https://github.com/karpatkey/onchain-accounting/blob/main/src/balances/BalanceAdapters/ERC20DefaultBalanceAdapter.sol)

***

## Positions returned

One position per inclusion-list asset with a non-zero wallet balance.

| Leg            | PositionKind | isDebt  | Description                                                                           |
| -------------- | ------------ | ------- | ------------------------------------------------------------------------------------- |
| Wallet balance | `Wallet`     | `false` | Plain ERC-20 balance, or native-token balance for the ERC-7528 sentinel `0xEeee…EeeE` |

Only assets on the adapter's inclusion list (`_supportedAssets`) are reported; zero balances are skipped.

***

## Balance calculation

<figure><img src="/files/tXtKdQkM8GR6rrPyU1Xb" alt="Flowchart of the ERC20Default balance adapter: read calls derive position legs into PositionBalance entries."><figcaption><p>ERC20Default adapter — how the underlying balances reported to the NAV Calculator are derived.</p></figcaption></figure>

For each supported asset:

```
if asset == NATIVE_ADDRESS (0xEeee…EeeE):  amount = account.balance
else:                                       amount = IERC20(asset).balanceOf(account)
```

`balanceOf` is read via a low-level `staticcall`, so a non-contract or reverting asset yields `0` rather than reverting the whole read. All entries are credit (`isDebt = false`).

***

## Identity

* **positionId:** `abi.encode(address asset)`
* **positionKind:** `Wallet`

***

## Constructor

```solidity
constructor(address navCalculator_, address[] memory initialAssets)
```

| Parameter        | Description                                                                                                                                                 |
| ---------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------- |
| `navCalculator_` | NAVCalculator address (must be non-zero); source of the asset registry                                                                                      |
| `initialAssets`  | Assets pre-added to the inclusion list at construction (e.g. `NATIVE_ADDRESS`), so `NAVCalculator.initialize` need not call back into the proxy during init |

***

## Registration

This adapter is deployed automatically inside `NAVCalculator.initialize()` and cannot be removed. Its per-asset reporting is muted/unmuted through the NAV Calculator, which is the only caller permitted to change the inclusion list:

```solidity
function excludeAssetFromDefaultAdapter(address asset) external;  // → removeSupportedAsset
function includeAssetInDefaultAdapter(address asset) external;    // → addSupportedAsset
```

Excluding an asset (e.g. one already covered by a custom adapter) avoids double-counting without unregistering it. `addSupportedAsset` requires the asset to be registered in NAVCalculator.


---

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