USDB, issued by the Bucket Protocol smart contracts under the governance of BUT and deBUT tokenholders, is a decentralized, over-collateralized crypto-backed stablecoin that tracks a soft peg to one U.S. dollar (USD) on the Sui blockchain [S1][S2].

Holders receive a token tracking 1 USD, minted either against volatile crypto collateral through isolated Collateralized Debt Positions or 1:1 against supported stablecoins, USD Coin (USDC) and suiUSDT, via the Peg Stability Module (PSM) [S1][S3]. USDB pays no yield by itself; depositing it into the sUSDB savings pool accrues a Base Savings Rate through a rising exchange rate plus claimable Sui rewards [S4]. PSM conversion fees apply: USDC 0%, suiUSDT 0.05% inbound, and 0.30% outbound [S3].

No incorporated legal issuer is named; the interface is provided by the Bucket Protocol Team and is deemed based solely in the Republic of Seychelles under Seychelles governing law, with disputes routed to binding arbitration [S5]. The holder's claim is economic and algorithmic via PSM conversion and market arbitrage rather than a hard issuer redemption right [S3]. The Terms prohibit Restricted Persons, including residents of the United States, Taiwan, the United Kingdom, and comprehensively sanctioned jurisdictions [S5]. Collateral is locked onchain in per-asset isolated buckets enforced by Minimum Collateral Ratios and automated liquidation; no offchain custodian exists [S6][S7].

USDB is a Sui-native coin issued only on the Sui blockchain [S6][S1]. Minting opens a CDP and borrows against collateral up to value divided by the Minimum Collateral Ratio, or swaps stablecoins 1:1 through the PSM; redemption repays debt to withdraw collateral or burns USDB for USDC or suiUSDT minus 0.30% [S7][S3]. Settlement is onchain and effectively instant [S6].

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://docs.bucketprotocol.io/introduction/what-is-usdb" },
    { id: "S2", url: "https://docs.bucketprotocol.io/llms.txt" },
    { id: "S3", url: "https://docs.bucketprotocol.io/mechanism/usdb-peg" },
    { id: "S4", url: "https://docs.bucketprotocol.io/llms-full.txt" },
    { id: "S5", url: "https://docs.bucketprotocol.io/resources/terms-of-service" },
    { id: "S6", url: "https://docs.bucketprotocol.io/introduction/what-is-bucket-protocol" },
    { id: "S7", url: "https://docs.bucketprotocol.io/mechanism/how-cdp-work" },
  ]}
/>


# Asset senders (daily) methodology

## 1. Overview

Asset senders (daily) is calculated as the number of unique addresses that initiate asset transfers within a fixed 24-hour window. Daily activity is measured from 00:00 UTC to 23:59 UTC for each tracked asset. Active transactors are isolated from passive recipients by identifying only the sending addresses of transactions. This metric is utilized to evaluate the daily active user base and transaction utility of tokenized assets across multiple blockchain networks.

## 2. Data sources

- **EVM chain events**: ERC-20 `Transfer` events, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: Token transfer instructions, covering Solana
- **Aptos, Cardano, Stellar Classic, and Sui events**: Token withdraw events, covering Aptos, Cardano, Stellar, and Sui
- **Near, Algorand, Injective, Ripple, and Stellar Soroban events**: Token transfer events, covering Near, Algorand, Injective, Ripple, and Stellar
- **Polkadot Asset Hub events**: `Transferred` events from the `assets` pallet, covering Polkadot Asset Hub
- **Asset metadata**: Token addresses and chain configurations

## 3. Step-by-step calculation

### Component A: Extract sender addresses

- **Purpose**: Identify and extract the unique sending addresses for each asset transfer across all supported chains.
- **Logic**: On EVM-compatible chains, sending addresses are extracted from the `from` field of ERC-20 `Transfer` events, excluding the zero address to filter out mint transactions. On Solana, sending addresses are extracted from the authority address field of token transfer instructions. On Aptos, Cardano, Stellar Classic, and Sui, sending addresses are identified from the account address field of token withdraw events. On Near, Algorand, Injective, and Stellar Soroban, sending addresses are extracted from the sender address field of token transfer events, with null addresses excluded. On Ripple, sending addresses are extracted from token transfer events where the transfer value is negative. On Polkadot Asset Hub, sending addresses are extracted from the event data of `Transferred` events emitted by the `assets` pallet.
- **Key fields**: `timestamp` (block timestamp truncated to daily grain), `token_address` (the contract or asset identifier), `sender_address` (the address initiating the transfer)

### Component B: Consolidate and deduplicate sender data

- **Purpose**: Aggregate sender addresses across all chains and prepare the dataset for daily unique counting.
- **Logic**: Sender records from all individual chains are consolidated into a unified dataset. For each asset on each chain, the sending addresses are grouped by day. To prevent double-counting, duplicate sender addresses for the same asset on the same chain within the same 24-hour window are removed.
- **Key fields**: `timestamp` (daily timestamp), `chain_id` (blockchain identifier), `token_address` (asset address), `sender_address` (unique sending address)

### Component C: Final aggregation

- **Purpose**: Calculate the final daily active sender count per asset and per chain.
- **Logic**: The consolidated dataset is aggregated to compute the daily active senders. Unique sending addresses are counted for each asset on a daily basis, both at the individual chain level and aggregated across all chains for multi-chain assets. If no transfer activity is recorded for a tracked asset on a given day, the daily sender count is filled with zero values.
- **Key fields**: `timestamp` (daily timestamp), `chain_id` (blockchain identifier), `token_address` (asset address), `asset_dau` (daily active senders count)

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

Unique asset senders over a fixed 24-hour window.

Asset senders (daily)

Stablecoins

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Lending

Bucket Protocol

Bucket USD (USDB) is a U.S. dollar stablecoin issued by Bucket Protocol.

Retail investors, professional investors, accredited investors, qualified investors, qualified purchasers, and institutions can mint and redeem directly with Bucket Protocol in USDC and suiUSDT.

USDB has been issued on Sui as a Sui coin token since August 2025.

Bucket USDUSDB