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Stablecoin issuers

ComTech

# ComTech Circulating asset market cap Methodology

## 1. Overview

The asset market cap circulating metric represents the total market value of ComTech Gold stablecoin tokens that are currently in circulation. For this specific stablecoin, the circulating market cap equals the outstanding supply converted to USD, as all minted tokens are considered to be in active circulation. The calculation tracks mint and burn events on the XDC blockchain to maintain a running tally of outstanding tokens, then converts this supply to USD value using end-of-day price feeds.

## 2. Data sources

- **Blockchain events**: Parsed XDC blockchain `Transfer` events for the ComTech Gold stablecoin token (contract address `0x8f9920283470f52128bf11b0c14e798be704fd15`)
- **Token metadata**: Decimal precision configuration for proper amount scaling
- **External data**: End-of-day price feeds for USD conversion of the outstanding supply

## 3. Step-by-step calculation

### Component A: Mint event extraction
- **Purpose**: Identifies when new ComTech Gold stablecoin tokens are created and added to circulation
- **Logic**: Extracts `Transfer` events from XDC blockchain where the `from_address` is the null address (`0x0000000000000000000000000000000000000000`). This pattern indicates token minting, as transfers from the null address represent new token creation. Events are filtered to include only the specific ComTech Gold token contract address and exclude any removed/reverted transactions.
- **Key fields**: `block_timestamp` for timing, `value` for mint amount, `transaction_hash` and `log_index` for event identification

### Component B: Burn event extraction  
- **Purpose**: Identifies when ComTech Gold stablecoin tokens are destroyed and removed from circulation
- **Logic**: Extracts `Transfer` events from XDC blockchain where the `to_address` is either the null address (`0x0000000000000000000000000000000000000000`) or the dead address (`0x000000000000000000000000000000000000dead`). These patterns indicate token burning, as transfers to these addresses represent token destruction. Events are filtered for the ComTech Gold token contract and exclude removed transactions.
- **Key fields**: `block_timestamp` for timing, `value` for burn amount, `transaction_hash` and `log_index` for event identification

### Component C: Net supply calculation
- **Purpose**: Combines mint and burn events to calculate the net change in token supply over time
- **Logic**: Unions mint and burn events into a single dataset. Mint amounts remain positive while burn amounts are converted to negative values to represent supply decreases. Events are truncated to daily timestamps and grouped by day. Token decimal corrections are applied using metadata to ensure proper scaling of amounts. Daily net changes are calculated by summing all mint and burn amounts within each day.
- **Key fields**: `amount` (decimal-corrected net change), `timestamp` (daily grain), `token_address` and `chain` for grouping

### Component D: Cumulative outstanding supply
- **Purpose**: Calculates the running total of outstanding tokens in circulation
- **Logic**: Applies a cumulative sum calculation over the daily net changes, ordered chronologically and partitioned by chain and token address. This creates a running tally of total outstanding supply over time. Forward filling is applied to ensure continuous daily coverage with no gaps in the time series.
- **Key fields**: `outstanding_supply` (cumulative token amount), `timestamp` for time ordering

### Final aggregation
- **Combining components**: The cumulative outstanding supply serves as the base metric, representing the total tokens in circulation at any given day
- **Currency conversion**: Outstanding supply amounts are converted to USD using end-of-day price feeds and the standard conversion macro that handles both decimal correction and USD pricing
- **Time aggregation**: Data is maintained at daily granularity with forward filling applied to ensure complete time series coverage
- **Final calculation**: The outstanding supply in USD becomes the circulating asset market cap, as for this stablecoin, all outstanding tokens are considered to be actively circulating. The metric undergoes final validation and schema standardization through the finalization macro.

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

Tokenized asset value / AUM (assets under management) — price times circulating supply.

ComTech

Circulating asset market cap

Circulating asset market cap

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