Asset mints

1. Overview

Asset mints is a metric that represents the total value of new assets minted onchain. Daily mint volumes are tracked across supported blockchains to quantify the issuance of tokenized assets. Gross mint events are identified from native token transfer logs and transaction-level supply changes. To ensure accuracy for assets with pre-minted supplies, corrections are applied by subtracting non-circulating allocations. The final metric is normalized by decimal precision and converted to USD using end-of-day price feeds.

2. Data sources

• EVM chain events: ERC-20 Transfer events, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)

• Solana instructions: SPL token Mint instructions

• Non-EVM chain events and transactions:

• Algorand: Asset Configuration (acfg) transactions and token transfers

• Cardano: UTXO-derived mint and burn events

• Near: Token mint events

• Polkadot Asset Hub: Issued events from assets pallets

• Ripple: Transaction-level issuer net flows

• Stacks: Token transfers with null senders

• Sui: TreasuryCap object total supply changes

• Stellar: SEP-41 sep41_mint events

• Asset metadata: Token addresses and decimal precision retrieved from token metadata

• External data: End-of-day price feeds sourced from market data providers

3. Step-by-step calculation

Component A: Gross mint extraction

• Purpose: Extract raw mint events across all supported blockchains
• Logic: On EVM-compatible chains, ERC-20 Transfer events are parsed where the sender address is the zero address. On Solana, SPL token Mint instructions are extracted. On Algorand, withdrawals from asset configuration addresses are identified as gross mints. On Cardano, positive supply deltas are derived from transaction UTXO inputs and outputs. On Near, token mint events are extracted. On Polkadot Asset Hub, Issued events from assets pallets are parsed. On Ripple, transaction-level net flows are calculated, and positive net flows from issuer accounts are classified as mints. On Stacks, token transfers with a null sender address are extracted. On Sui, total supply changes are decoded from TreasuryCap objects. On Stellar, SEP-41 sep41_mint events are parsed.
• Key fields: amount (raw token quantity), token_address (asset contract or token identifier), timestamp (block timestamp)

Component B: Premint correction

• Purpose: Adjust gross mints to exclude pre-minted tokens that do not enter active circulation
• Logic: For supported assets, a correction is applied to distinguish between gross mints and circulating supply changes. Mints that are sent directly to designated non-circulating premint addresses are classified as premints. Conversely, transfers from these premint addresses to circulating addresses are classified as premint issuances. Corrected mints are calculated by subtracting premints from gross mints and adding premint issuances.
• Key fields: amount (corrected token quantity), token_address (asset contract), account_address (premint address)

Component C: Decimal normalization

• Purpose: Normalize raw token quantities into standard units
• Logic: Raw token amounts are normalized by decimal precision. Decimal precision is retrieved from token metadata for each specific asset.
• Key fields: amount (normalized token quantity), decimals (decimal precision)

Component D: Final aggregation and USD conversion

• Purpose: Aggregate daily normalized mints and convert the values to USD
• Logic: Normalized daily mint amounts are aggregated by asset and blockchain. Daily USD values are calculated by multiplying the daily normalized mint amount by the end-of-day price feed for the respective asset. If no mint events occur on a given day, the daily value is filled with zero values.
• Key fields: amount_usd (daily minted value in USD), price_usd (end-of-day asset price)