RCOIN, issued via Securitize, is a tokenized fund that gives the tokenholder onchain exposure to ArCoin, structured and issued through Securitize's end-to-end platform for tokenizing real-world assets. [S1][S2]

Each RCOIN token tracks ArCoin (RCOIN), a fund whose value derives from its underlying real-world holdings. Where the fund invests in short-term U.S. Treasuries, the product is designed to earn stable yield with daily liquidity through blockchain settlement. [S3] Returns to the tokenholder reflect the fund's investment performance net of fund-level costs, and any distribution reaches the holder only if the fund makes one and eligibility requirements are met. [S3][S2]

Securitize markets itself as the leader in tokenizing real-world assets and operates an end-to-end suite spanning structuring, onboarding, issuance, and trading. [S1][S2] Use of the www.securitize.io platform is governed by Securitize's Platform Terms of Service, which sets out the agreement between the user and Securitize. [S4] Access to the platform and to fund tokens proceeds through Securitize's onboarding process before a tokenholder may hold or transact in these instruments, and the issuing and tokenization roles sit within the Securitize platform. [S4][S2]

Securitize issues these fund tokens onchain across Ethereum, Avalanche, Zksyncera, Solana, Bsc, Mantle, Xdc, Aptos, Seievm, Polygon, Ink, Arbitrum, an Ethereum Layer 2, OP Mainnet, and Tron. [S1][S2] Issuance, onboarding, and trading are all handled through Securitize's platform, with each token tracking the fund's value as reflected in its underlying real-world assets. [S1][S3][S2]

<Sources
  retrievedAt="2026-06-19"
  items={[
    { id: "S1", url: "https://securitize.io/" },
    { id: "S2", url: "https://securitize.io/fund-services" },
    { id: "S3", url: "https://securitize.io/primary-market/vaneck-vbill" },
    { id: "S4", url: "https://securitize.io/terms-conditions" },
  ]}
/>


# Asset senders (daily) methodology

## 1. Overview

Asset senders (daily) is calculated as the number of unique addresses that initiate asset transfers within a fixed 24-hour window. Daily activity is measured from 00:00 UTC to 23:59 UTC for each tracked asset. Active transactors are isolated from passive recipients by identifying only the sending addresses of transactions. This metric is utilized to evaluate the daily active user base and transaction utility of tokenized assets across multiple blockchain networks.

## 2. Data sources

- **EVM chain events**: ERC-20 `Transfer` events, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: Token transfer instructions, covering Solana
- **Aptos, Cardano, Stellar Classic, and Sui events**: Token withdraw events, covering Aptos, Cardano, Stellar, and Sui
- **Near, Algorand, Injective, Ripple, and Stellar Soroban events**: Token transfer events, covering Near, Algorand, Injective, Ripple, and Stellar
- **Polkadot Asset Hub events**: `Transferred` events from the `assets` pallet, covering Polkadot Asset Hub
- **Asset metadata**: Token addresses and chain configurations

## 3. Step-by-step calculation

### Component A: Extract sender addresses

- **Purpose**: Identify and extract the unique sending addresses for each asset transfer across all supported chains.
- **Logic**: On EVM-compatible chains, sending addresses are extracted from the `from` field of ERC-20 `Transfer` events, excluding the zero address to filter out mint transactions. On Solana, sending addresses are extracted from the authority address field of token transfer instructions. On Aptos, Cardano, Stellar Classic, and Sui, sending addresses are identified from the account address field of token withdraw events. On Near, Algorand, Injective, and Stellar Soroban, sending addresses are extracted from the sender address field of token transfer events, with null addresses excluded. On Ripple, sending addresses are extracted from token transfer events where the transfer value is negative. On Polkadot Asset Hub, sending addresses are extracted from the event data of `Transferred` events emitted by the `assets` pallet.
- **Key fields**: `timestamp` (block timestamp truncated to daily grain), `token_address` (the contract or asset identifier), `sender_address` (the address initiating the transfer)

### Component B: Consolidate and deduplicate sender data

- **Purpose**: Aggregate sender addresses across all chains and prepare the dataset for daily unique counting.
- **Logic**: Sender records from all individual chains are consolidated into a unified dataset. For each asset on each chain, the sending addresses are grouped by day. To prevent double-counting, duplicate sender addresses for the same asset on the same chain within the same 24-hour window are removed.
- **Key fields**: `timestamp` (daily timestamp), `chain_id` (blockchain identifier), `token_address` (asset address), `sender_address` (unique sending address)

### Component C: Final aggregation

- **Purpose**: Calculate the final daily active sender count per asset and per chain.
- **Logic**: The consolidated dataset is aggregated to compute the daily active senders. Unique sending addresses are counted for each asset on a daily basis, both at the individual chain level and aggregated across all chains for multi-chain assets. If no transfer activity is recorded for a tracked asset on a given day, the daily sender count is filled with zero values.
- **Key fields**: `timestamp` (daily timestamp), `chain_id` (blockchain identifier), `token_address` (asset address), `asset_dau` (daily active senders count)

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Unique asset senders over a fixed 24-hour window.

Asset senders (daily)

Tokenized funds

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Asset management

Arca

ArCoin (RCOIN) is a tokenized fund share issued by Securitize through Arca U.S. Treasury Fund and managed by Arca Capital Management, LLC.

Each token is a direct claim on the issuer.

The fund is open-ended, invests in U.S. government debt, and charges a 0.05% annual management fee.

Its assets sit with UMB Bank, N.A., administered by Ultimus Fund Solutions, LLC, with Securitize LLC as transfer agent and RSM US LLP as auditor.

Retail investors can subscribe and redeem in USD, with a USD 1,000 minimum after completing KYC, and holders have a right to redeem at net asset value with monthly settlement.

Arca U.S. Treasury Fund is incorporated in the United States, is registered under the U.S. Investment Company Act of 1940, and is supervised by the U.S. Securities and Exchange Commission.

Holder terms are governed by the law of Delaware in the United States.

RCOIN has been issued on Ethereum as an ERC-20 token since September 2021.

ArCoinRCOIN