TSMb is a tokenized stock product whose token tracks the price of the underlying listed equity, Taiwan Semiconductor Manufacturing Company Limited American depositary shares (TSM), and provides its holder economic exposure to that single reference security rather than direct legal ownership of shares.

The reference asset is Taiwan Semiconductor Manufacturing Company Limited American depositary shares, listed on the New York Stock Exchange under the ticker TSM. The token is structured to follow the market price of that single equity, so a tokenholder gains the economic profit or loss that a movement in the underlying TSM share price produces. If the underlying issues a dividend or distribution and eligibility requirements are met, holders receive a corresponding amount, and the token confers no voting rights in the underlying company.

The token represents economic exposure to Taiwan Semiconductor Manufacturing Company Limited American depositary shares (TSM) rather than registered legal title to the shares themselves, so a tokenholder is a contractual claimant whose entitlement derives from the underlying equity rather than a shareholder of record in Taiwan Semiconductor Manufacturing Company Limited. A holder of the token does not appear on the share register of the underlying company, does not exercise the voting rights attached to TSM, and relies on the issuing arrangement to mirror the economic outcome of holding the underlying listed security.

As a tokenized representation of Taiwan Semiconductor Manufacturing Company Limited American depositary shares (TSM), the token is issued by Binance under its bStocks product on BNB Chain, recording ownership and transfers onchain, with balances held and moved between addresses through smart contract logic on a public blockchain. Transfers settle onchain when the network confirms the transaction, and the token is held in self-custody or third-party custody wallets in the same manner as other fungible blockchain tokens.

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    { id: "S1", url: "https://www.coingecko.com/en/coins/tsmc-bstocks-tokenized-stock" },
    { id: "S2", url: "https://bscscan.com/token/0xab78b89b5bb00236be0b4b20704cbfa04efc711c" },
    { id: "S3", url: "https://www.binance.com/en/bstocks" },
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# Asset senders (monthly) methodology

## 1. Overview

Asset senders (monthly) is defined as the number of unique addresses from which asset transfers are initiated over a rolling 30-day period. For each tracked asset, outgoing transfer transactions are analyzed across supported blockchains to identify the sending addresses. These addresses are deduplicated over a 30-day window to represent the monthly active sender base. This metric is utilized to evaluate user adoption, transactional activity, and the overall utility of tokenized assets.

## 2. Data sources

- **EVM chain events**: Token transfer events, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: Token transfer instructions
- **Aptos, Sui, Cardano, and Stellar Classic data**: Token withdraw transactions
- **Stellar Soroban, Algorand, Near, Injective, and Ripple data**: Token transfer transactions
- **Polkadot Asset Hub events**: `Transferred` events from `assets` pallets
- **Asset metadata**: Token contract addresses and decimal precision

## 3. Step-by-step calculation

### Component A: Extract daily asset senders

- **Purpose**: Identify unique addresses initiating transfers on a daily basis
- **Logic**: On EVM-compatible chains, token transfer events are parsed to extract the sender address from the transaction, excluding the zero address. On Solana, token transfer instructions are parsed to identify the authority address. On Aptos, Sui, Cardano, and Stellar Classic, token withdraw transactions are parsed to extract the account address. On Stellar Soroban, Algorand, Near, and Injective, token transfer transactions are parsed to extract the sender address, excluding null addresses. On Ripple, token transfer transactions with negative values are parsed to identify the sending account address. On Polkadot Asset Hub, `Transferred` events from `assets` pallets are parsed to extract the sender address. For all chains, the extracted addresses are grouped by day and token address to produce a daily record of unique senders.
- **Key fields**: `timestamp` (block day), `token_address` (asset identifier), `sender_address` (initiating address)

### Component B: Aggregate rolling monthly senders

- **Purpose**: Calculate the unique sender count over a rolling 30-day window
- **Logic**: A daily datespine is generated to establish a continuous timeline. For each day in the timeline, a 30-day lookback window is constructed, encompassing the current day and the preceding 29 days. Daily sender addresses collected within this window are aggregated and deduplicated. The total number of unique, deduplicated addresses is then counted for each asset on each day.
- **Key fields**: `timestamp` (calculation day), `token_address` (asset identifier), `asset_senders` (unique monthly sender count)

### Component C: Final aggregation and zero-filling

- **Purpose**: Combine data across chains and fill missing activity days
- **Logic**: The deduplicated monthly sender counts are aggregated at both the individual chain level and the global asset level. For days where no transfer activity is recorded for a tracked asset, the metric is filled with zero values to maintain a continuous time series.
- **Key fields**: `timestamp` (reporting day), `chain_id` (blockchain identifier), `token_address` (asset identifier), `asset_senders` (final monthly unique sender count)

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

Unique asset senders over a rolling 30-day window.

Asset senders (monthly)

Tokenized stocks

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terms

Real-world asset (RWA) issuers

Binance bStocks

TSMC (bStocks Tokenized Stock) (TSMb) is a token tracking TSM shares, backed by dedicated collateral, issued by Binance bStocks through Btech Holdings Ltd, and distributed through Binance bStocks with Alpaca Securities LLC as broker.

The underlying security is listed in the information technology sector.

Each token tracks one underlying share, entitles holders to dividends, which are distributed as additional tokens, carries no voting rights, and carries an annual fee of 0%.

The collateral assets are held by Alpaca Securities LLC in segregated accounts within a bankruptcy-remote structure.

Retail investors and institutions AE can mint and redeem directly with Binance bStocks in USDC after completing KYC.

Residents of the United States cannot mint or redeem with Binance bStocks.

Btech Holdings Ltd is incorporated in the United Arab Emirates, is regulated in Abu Dhabi's ADGM, and is supervised by the Financial Services Regulatory Authority.

Holder terms are governed by the law of the United Arab Emirates.

TSMb has been issued on BNB Chain as an ERC-20 token since July 2026.

TSMC (bStocks Tokenized Stock)TSMb