Arcus USDG (arcUSDG) is the USDG-denominated collateral token of Arcus, a self-custodial trading protocol on Robinhood Chain for spot markets (tokenized equities, indices, commodities) and cross-margined perpetual futures [S1].

Each arcUSDG is backed 1:1 by Global Dollar (USDG): users mint arcUSDG by depositing USDG into the Arcus vault and burn it to withdraw USDG at the same 1:1 rate. The token does not accrue yield. The 1:1 backing is verifiable on-chain — the vault's arcUSDG `totalSupply()` equals the USDG held by the vault contract (`0x4fdbdaf4800fc28c22a967d23a343acce34315a4`) [S2].

Because arcUSDG is pegged 1:1 to USDG (itself a US-dollar stablecoin), it is priced at the US-dollar peg. It functions as a protocol-internal collateral receipt rather than a broadly user-held token: substantially all supply sits in the Arcus vault that custodies trading collateral, so market cap tracks total USDG deposited for trading on Arcus [S2].

<Sources
  retrievedAt="2026-07-22"
  items={[
    { id: "S1", url: "https://arcus.xyz/" },
    { id: "S2", url: "https://robinhoodchain.blockscout.com/token/0x4fdbdaf4800fc28c22a967d23a343acce34315a4" },
  ]}
/>


# Asset off peg methodology

## 1. Overview

The asset off peg metric is defined as the percentage deviation of a tokenized asset's daily closing market price from its designated reference (pegged) asset price. This metric is utilized to assess the stability and peg-keeping performance of stablecoins, wrapped assets, and other pegged tokens. The deviation is calculated relative to the reference price, representing either a premium or a discount in the market. Daily tracking of this metric is performed to enable the monitoring of peg stability and the identification of potential de-pegging events across various asset classes.

## 2. Data sources

- **EVM chain events**: `AnswerUpdated` events from Chainlink aggregator contracts, covering EVM-compatible chains (Ethereum, Polygon, and others)
- **Asset metadata**: Reference asset configurations and token mappings
- **External data**: End-of-day price feeds for tokenized assets

## 3. Step-by-step calculation

### Component A: Retrieve asset prices and reference mappings

- **Purpose**: Identify the daily closing price of each asset and map it to its designated reference currency
- **Logic**: Daily closing prices for each asset are retrieved from end-of-day price feeds. Each asset is mapped to its designated reference currency (such as the U.S. Dollar, Euro, or British Pound) using asset metadata. For assets pegged to the U.S. Dollar, a fixed reference rate of 1.0 is assigned. For assets pegged to other fiat currencies, the corresponding Chainlink FX feed is identified.
- **Key fields**: `asset_price` (daily closing price of the asset), `reference_asset` (the target peg currency), `fx_feed_name` (the identifier for the Chainlink FX feed)

### Component B: Resolve daily reference prices

- **Purpose**: Determine the daily USD value of the reference peg currency
- **Logic**: Daily FX rates are extracted from Chainlink oracle price feeds on EVM-compatible chains. To account for days without oracle updates, the last recorded rate for each FX feed is carried forward to construct a continuous daily time series. The daily reference price is then established by matching the asset's mapped FX feed or fixed rate with the corresponding daily rate.
- **Key fields**: `price` (the FX rate from the oracle feed), `timestamp` (the date of the rate), `reference_price` (the resolved daily reference price in USD)

### Component C: Calculate peg deviation

- **Purpose**: Compute the final percentage deviation of the asset price from its reference price
- **Logic**: The daily asset price and the resolved daily reference price are aligned by timestamp and asset identifier. The percentage deviation is calculated by subtracting the reference price from the asset price, and dividing the result by the reference price. Days where a reference price cannot be resolved are excluded from the final dataset.
- **Key fields**: `asset_off_peg` (the percentage deviation from the peg), `timestamp` (the daily grain timestamp)

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

(market_price - reference_price) / reference_price

Percentage deviation of the asset price from its reference peg.

Asset off peg

Stablecoins

Users trade spot markets — tokenized equities, indices, and commodities — with zero trading fees 24/7, and cross-margined perpetual futures. The platform uses a self-custodial architecture and provides web, iOS, and WebSocket/REST API access.

Arcus is a decentralized exchange built in partnership with Robinhood on Robinhood Chain. It offers spot trading of tokenized equities, indices, and commodities, and perpetual futures with up to 50x leverage across equities, indices, commodities, and crypto.

Traders in eligible jurisdictions. Arcus is unavailable in the United States, United Kingdom, Canada, and other restricted regions per its Terms of Use. Accounts are backed 1:1 by Robinhood Crypto.

Arcus USDGarcUSDG