ASUSD, issued by the Astera Protocol smart contracts under the governance of Astera tokenholders, is a U.S. dollar (USD) pegged stablecoin that represents one USD of onchain credit sourced entirely from lending demand, liquidity, and collateral on Ethereum [S1][S2].

Each token represents 1 USD of Astera credit collateralized by onchain economic activity, including borrower interest, arbitrage spreads, and protocol liquidity payments, rather than fiat reserves [S2]. Minting flows through Facilitators, chiefly the over-collateralized Astera Lend, where users deposit ETH, wBTC, and blue-chip tokens against safe loan-to-value ratios [S3]. Holders earn no yield unless they stake ASUSD into staked asUSD (asUSDs), which auto-compounds borrower interest at a disclosed 6-35% APR depending on market conditions [S4][S5].

Astera is presented as smart-contract issuance by the protocol rather than by a single named corporate entity, and the documentation identifies only generic operators [S6][S2]. The legal form of the tokenholder claim is economic, representing 1 USD of Astera credit backed by onchain lending demand rather than a deposit, fund interest, or e-money claim [S1][S2]. Access is permissionless via smart contracts, placing sole responsibility for due diligence and tax compliance on the user [S6][S5]. The peg is maintained through economic arbitrage, with borrowers exiting by repaying debt to Astera Lend at 1:1, while staked asUSDs is subject to a 7-day withdrawal cooldown [S7][S4][S5].

ASUSD deploys natively on each network rather than bridging, with independent Facilitators minting onchain on Linea as the primary live network, Ethereum as reserve chain, and Arbitrum and Base as velocity chains [S8][S9]. Cross-chain coordination uses hourly transfer limits and automatic arbitrage to hold parity, and interest rates adjust every block based on market conditions [S2][S9].

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://docs.astera.fi/" },
    { id: "S2", url: "https://docs.astera.fi/asusd/what-is-asusd.md" },
    { id: "S3", url: "https://docs.astera.fi/asusd/where-asusd-comes-from.md" },
    { id: "S4", url: "https://docs.astera.fi/asusd/yield-generation.md" },
    { id: "S5", url: "https://docs.astera.fi/llms-full.txt" },
    { id: "S6", url: "https://docs.astera.fi/security-and-compliance/legal" },
    { id: "S7", url: "https://docs.astera.fi/asusd/how-asusd-balances-to-usd1.md" },
    { id: "S8", url: "https://docs.astera.fi/core-architecture/astera-ethereums-native-credit-layer" },
    { id: "S9", url: "https://docs.astera.fi/asusd/multi-chain-architecture.md" },
  ]}
/>


# Asset mints methodology

## 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)

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

Asset mints

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Stablecoin issuers

Astera

Astera USD (ASUSD) is a U.S. dollar stablecoin issued by Astera.

ASUSD has been issued on Linea as an ERC-20 token since July 2025.

Astera USDASUSD