MRNA, issued by Backpack Securities Global Limited, is a tokenized security representing a security entitlement to one share of Moderna, Inc. (Nasdaq: MRNA) that is redeemable one-for-one for the underlying share through Backpack Securities [S1][S2].

Each MRNA token corresponds to a real Moderna share held for the holder as a security entitlement, not a synthetic wrapper or contract for difference [S2]. The holder's economic return tracks the underlying MRNA share price [S1]. Backpack applies no separate commission or platform fee on trades, since the quoted price is the execution price, and charges approximately 0.50 U.S. dollars (USD) per tokenized-security withdrawal to Solana [S2]. Cash dividend payouts and corporate-action reflections are not yet active [S2].

Backpack Securities Global Limited is a New Zealand corporation, and holdings are structured as security entitlements governed by New York law under Uniform Commercial Code Article 8 [S2]. Underlying securities are held through SEC-registered, FINRA and SIPC member broker-dealers, with RQD Clearing, LLC as clearing broker and Atomic Vault Securities, LLC as intermediary broker [S2]. Customer holdings are segregated from intermediary corporate assets and protected from creditor claims under UCC Section 8-503 [S2]. Voting rights are not yet enabled [S2]. The product is not available in the United States, the United Kingdom, the United Arab Emirates, Japan, or on Backpack EU [S2].

MRNA is issued as a token on the Solana blockchain [S1]. Holders withdraw a Moderna share from Backpack Exchange to tokenize it into MRNA on Solana, or deposit MRNA from a Solana wallet to convert it back into the underlying share held by Backpack Securities [S1]. Onchain settlement is near-instant, and holders self-custody tokens in a Solana wallet [S2].

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  items={[
    { id: "S1", url: "https://learn.backpack.exchange/blog/tokenized-moderna-mrna" },
    { id: "S2", url: "https://support.backpack.exchange/llms-full.txt" },
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# Asset transfer volume methodology

## 1. Overview

Asset transfer volume is defined as the total value of assets transferred onchain. Since transaction fees are paid by users for each transfer, a correlation is typically observed between this metric and the customer demand that exists to use an asset for transacting purposes. Daily transfer volumes are aggregated across all supported blockchains, normalized by decimal precision, and converted into USD. To ensure an accurate representation of economic activity, transactions involving non-circulating treasury or premint addresses are subtracted where applicable.

## 2. Data sources

- **EVM chain events**: ERC-20 token transfers, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, Tron, Starknet, zkSync Era, and others)
- **Solana instructions**: SPL token transfers, mints, and burns
- **Aptos events**: Token withdraw events
- **Near events**: Token transfer events
- **Polkadot Asset Hub events**: `Transferred` events from the `assets` pallet
- **Cardano UTXO transactions**: Token deposits, withdrawals, and mint/burn events
- **Stellar operations**: Classic token withdrawals and Soroban SEP-41 token transfers
- **Sui transactions**: Token withdrawals and `TreasuryCap` supply changes
- **Algorand transactions**: Asset transfer transactions
- **Injective events**: Token transfer, mint, and burn events
- **Stacks transactions**: Token transfer events
- **Asset metadata**: Token contract addresses and decimal precision
- **External data**: End-of-day price feeds and fiat exchange rates

## 3. Step-by-step calculation

### Component A: Raw transfer volume extraction

- **Purpose**: Extract raw token transfer quantities from onchain events and transactions
- **Logic**: On EVM-compatible chains, token transfer quantities are extracted from ERC-20 `Transfer` events. On Solana, quantities are extracted from SPL token transfers, mints, and burns. On Aptos, Near, Algorand, Injective, and Stacks, transfer volumes are parsed from native token transfer and withdrawal events. On Polkadot Asset Hub, volumes are extracted from `Transferred` events emitted by the `assets` pallet. On Cardano, UTXO withdrawals and mint events are aggregated to capture all token movements. On Stellar, classic token withdrawals and Soroban SEP-41 transfer, mint, and burn events are parsed. On Sui, token withdrawals are combined with mint events derived from `TreasuryCap` supply changes.
- **Key fields**: `timestamp` (the day of the transfer) `token_address` (the contract or asset identifier) `amount` (the raw transfer quantity)

### Component B: Premint and preburn correction

- **Purpose**: Exclude non-circulating token movements to isolate genuine economic transfer volume
- **Logic**: For supported chains, raw transfer volumes are corrected by subtracting premints and preburns. Premints are defined as tokens minted directly into designated project treasury or premint addresses, while preburns are represented by tokens burned directly from these non-circulating addresses. On EVM-compatible chains, Solana, Injective, Stacks, and Stellar Soroban, these flows are identified by filtering transfers where the sender or recipient matches a known treasury address. On Algorand, transfers between asset configuration addresses and treasury addresses are subtracted. On Cardano, deposits to and withdrawals from treasury addresses during mint or burn transactions are netted out.
- **Key fields**: `amount` (the corrected transfer quantity) `token_address` (the contract or asset identifier) `timestamp` (the day of the transfer)

### Component C: Decimal normalization and zero-filling

- **Purpose**: Normalize token quantities to human-readable units and ensure continuous daily time series
- **Logic**: Raw token quantities are normalized by the decimal precision retrieved from the asset metadata. For days with no recorded transfer activity, the time series is filled with zero values to maintain a continuous daily record for each asset.
- **Key fields**: `amount` (the normalized transfer quantity) `decimals` (the decimal precision of the token)

### Component D: USD conversion and final aggregation

- **Purpose**: Convert normalized transfer volumes to USD and aggregate across all chains
- **Logic**: Normalized daily transfer volumes are multiplied by the end-of-day price feeds sourced from market data providers. For assets pegged to fiat currencies other than USD, daily exchange rates are applied using Chainlink FX price feeds to determine the USD-equivalent value. The final daily asset transfer volume is calculated by summing the USD-denominated transfer volumes across all active chains for each asset.
- **Key fields**: `price_usd` (the end-of-day market price of the asset in USD) `amount_usd` (the final transfer volume in USD)

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

Asset transfer volume

Tokenized stocks

Users can trade spot and perpetual futures markets on the exchange, and manage assets across multiple chains through the integrated wallet.

Backpack is a centralized cryptocurrency exchange and wallet platform supporting spot trading, perpetual futures, and multi-chain asset management across Solana, Ethereum, and Bitcoin.

Crypto traders and users seeking an integrated exchange and wallet platform.

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Real-world asset (RWA) issuers

Backpack

Moderna (Backpack Securities) (MRNA) is a token tracking MRNA shares, backed by dedicated collateral, issued by Backpack through Trek Nexus Markets Ltd, and distributed through Trek Nexus Markets Ltd with Atomic Vault Securities, LLC and RQD Clearing, LLC as broker.

The underlying security is listed in the health care sector in North America.

Each token tracks one underlying share, entitles holders to dividends, which are reinvested into the token, and carries no voting rights.

The collateral assets are held by Trek Nexus Markets Ltd in segregated accounts within a bankruptcy-remote structure.

Retail investors worldwide can mint and redeem directly with Backpack in underlying shares after completing KYC.

Residents of the United States, the United Kingdom, the United Arab Emirates and other jurisdictions the issuer restricts cannot mint or redeem with Backpack.

Trek Nexus Markets Ltd is incorporated in the British Virgin Islands and is offered under an SEC Regulation S exemption.

MRNA has been issued on Solana as a SPL Token-2022 token since August 2026.

Moderna (Backpack Securities)MRNA