Users mint and redeem TUSD through platforms integrated with TrueUSD’s ecosystem, where USD is held in escrow accounts managed by third-party trust companies, and TUSD is minted or burned at a 1:1 rate.

TrueUSD is the first USD-pegged stablecoin to deploy daily attestations for its underlying reserves by independent third-party institutions. It's also the largest stablecoin on Tron.

Archblock is a private company with investors like BlockTower Capital, a16z etc. As of December 2020, Techteryx had acquired ownership and management of TUSD.

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TrueUSD

# TrueUSD Outstanding supply Methodology

## 1. Overview

Outstanding supply measures the total amount of TUSD (TrueUSD) tokens currently in circulation across multiple blockchain networks. This metric tracks the net supply of TUSD by monitoring mint and redemption events, providing a real-time view of token availability in the market. The calculation combines mint events (new token issuance) with redemption events (token burns) to derive the cumulative outstanding token supply over time.

## 2. Data sources

The calculation relies on the following raw blockchain data sources:

- **Token transfer events**: Parsed `Transfer` events from TUSD smart contracts deployed on Ethereum, BSC, and Avalanche networks
- **Transaction logs**: Blockchain event logs containing token transfer data with from/to addresses, amounts, and timestamps
- **Token metadata**: Contract information including decimal places and token symbols for proper amount calculation
- **End-of-day price feeds**: USD price data for currency conversion and standardization
- **Chain availability data**: Network operational status for filtering active blockchain networks

The metric specifically monitors TUSD contracts at addresses `0x0000000000085d4780b73119b644ae5ecd22b376` and `0x8dd5fbce2f6a956c3022ba3663759011dd51e73e` on Ethereum, `0x40af3827f39d0eacbf4a168f8d4ee67c121d11c9` on BSC, and `0x1c20e891bab6b1727d14da358fae2984ed9b59eb` on Avalanche.

## 3. Step-by-step calculation

### Component A: TUSD mint tracking
- **Purpose**: Identifies new TUSD token issuance events across supported blockchain networks
- **Logic**: Extracts `Transfer` events where the `from_address` equals the zero address (`0x0000000000000000000000000000000000000000`), indicating new tokens minted into circulation. Filters events from TUSD smart contracts on Ethereum, BSC, and Avalanche networks. Excludes removed or reverted transactions to ensure data accuracy. Captures `block_timestamp`, `transaction_hash`, `log_index`, `to_address`, `value`, and chain information.
- **Key fields**: `amount` represents the number of tokens minted, `block_timestamp` for timing, `token_address` for contract identification, and `real_chain` for the actual blockchain network

### Component B: TUSD redemption tracking  
- **Purpose**: Identifies TUSD token redemption (burn) events where tokens are permanently removed from circulation
- **Logic**: Extracts `Transfer` events where the `to_address` equals either the zero address (`0x0000000000000000000000000000000000000000`) or the dead address (`0x000000000000000000000000000000000000dead`), indicating tokens removed from circulation. Uses the same contract filtering and validation logic as mint tracking but focuses on outbound transfers to burn addresses.
- **Key fields**: `amount` represents tokens redeemed, `block_timestamp` for timing, `from_address` for the source of redemption, and chain identifiers

### Component C: Chain standardization and aggregation
- **Purpose**: Normalizes data across different blockchain networks and calculates daily net supply changes
- **Logic**: Maps Avalanche TUSD transfers to use the Ethereum token address for consistent pricing and identification. Combines mint and redemption data by treating mints as positive amounts and redemptions as negative amounts. Aggregates transfer amounts by day using `timestamp_trunc` to create daily boundaries. Groups by timestamp, chain, token address, and business classification fields to create daily net supply change records.
- **Key fields**: `timestamp` truncated to day boundaries, `amount` as daily net supply change (positive for net mints, negative for net redemptions), and standardized `token_address` values

### Component D: Cumulative supply calculation
- **Purpose**: Derives the total outstanding token supply by calculating running totals of daily supply changes
- **Logic**: Applies a cumulative sum using window functions partitioned by `real_chain` and `token_address`, ordered by timestamp. This running total represents the outstanding supply at each point in time by adding daily net changes to the previous balance. Handles multi-chain scenarios by maintaining separate supply calculations for each network.
- **Key fields**: `outstanding_supply` as the cumulative token amount in circulation, partitioned by chain and token for accurate tracking

### Final aggregation
- **Combining components**: The daily net supply changes from mints and redemptions are combined arithmetically (mints + redemptions where redemptions are negative), then accumulated over time using running sums partitioned by chain and token address
- **Gap filling**: Forward-fill methodology propagates the last known outstanding supply value to dates with no transfer activity, ensuring continuous daily data coverage without artificial gaps
- **Currency conversion**: Applies decimal correction based on token contract specifications (typically 18 decimals for ERC20 tokens) and converts to USD using end-of-day price feeds through the `convert_to_usd_and_correct_decimals` macro
- **Chain standardization**: Avalanche TUSD amounts are mapped to use Ethereum token addressing for consistent price lookup and reporting, while maintaining the original chain identification for business logic
- **Final calculation**: The outstanding supply represents the cumulative sum of all historical mints minus all historical redemptions, expressed in USD terms and aggregated across all supported blockchain networks where TUSD operates

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

Circulating supply of stablecoins issued by the project.

TrueUSD

Outstanding supply

Outstanding supply

Competitive landscape

Chain breakdown