# StableFX Tradeable assets Methodology

## 1. Overview

Tradeable assets measures the cumulative number of unique assets that have been successfully traded and settled on StableFX. The breadth of asset coverage and corridor availability supported by the platform over time is reflected by this metric. By tracking the historical expansion of unique assets involved in settled trades, the diversity and growth of the StableFX trading ecosystem can be evaluated.

## 2. Data sources

- **Blockchain events**: `recordTrade` and `authorizeTrade` function calls, alongside `TradeStatusChanged`, `TakerRefunded`, and `MakerRefunded` events from `FxEscrow` contracts, covering the Arc chain
- **External data**: Asset metadata for decimal normalization

## 3. Step-by-step calculation

### Component A: Trade settlement identification

- **Purpose**: Identify successfully settled trades on StableFX while excluding refunded or invalid transactions
- **Logic**: Trade details are extracted from `recordTrade` and `authorizeTrade` function calls from `FxEscrow` contracts. These trades are matched with `TradeStatusChanged` events from `FxEscrow` contracts where the status is updated to settled (status value of 2). Transactions associated with `TakerRefunded` or `MakerRefunded` events from `FxEscrow` contracts are excluded. Trades involving the system emitter address are also filtered out to ensure only valid user trades are processed.
- **Key fields**: `trade_id`, `base_token_address`, `quote_token_address`, `block_timestamp`

### Component B: Unique asset extraction

- **Purpose**: Extract and isolate the unique assets involved in each settled trade
- **Logic**: For each settled trade, both the base asset and the quote asset are extracted. The distinct addresses of these assets are aggregated daily to establish the complete set of assets that have interacted with the platform.
- **Key fields**: `token_0_address`, `token_1_address`, `block_timestamp`

### Component C: Cumulative tradeable assets calculation

- **Purpose**: Calculate the running cumulative count of unique tradeable assets over time
- **Logic**: The first appearance (minimum timestamp) of each unique asset address is determined across the historical trade dataset. The number of new assets making their first appearance is aggregated on a daily basis. A running cumulative sum of these first-time appearances is calculated chronologically to represent the total number of unique tradeable assets available on any given day. Days with no new asset appearances are forward-filled to maintain a continuous daily time series.
- **Key fields**: `token_address`, `timestamp`, `tradeable_assets`

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

Number of unique tokens tradeable on the exchange.

Tradeable assets

Exchanges (DEX)

Users deposit funds into Circle account and receive USDC or EUROC at a 1:1 rate.

Circle is a financial technology company that is the principal architect of USDC and EUROC - full-reserve fiat stablecoins that bring US dollar and euro liquidity on-chain.

Circle is a private company registered in the US. Circle's investors include Goldman Sachs, Baidu, and IDG Capital etc.

StableFX

Tradeable assets

Tradeable assets

Chain breakdown