Crown BRLV is recorded in the asset registry as a non-rebasing Brazilian Real (BRL) stablecoin, but no compliant description can be composed because the issuer dossier returned zero citable sources from the only permitted domain.

The asset registry metadata identifies the token as tracking the Brazilian Real (BRL) with a stated 1:1 backing by Brazilian government bonds and a separate yield-bearing collateral layer, yet these are issuer-product claims that the sourcing rules forbid presenting as sourced facts, because no permitted-domain page could be fetched to ground reference asset, accrual mechanism, or fees borne by the holder.

No issuer legal entity, jurisdiction of formation, applicable regulator, legal form of the holder's claim, eligibility or offering restrictions, redemption rights, or custodial and security arrangements can be stated, because every fetch against brl.xyz returned an HTTP 301 permanent redirect to crown-brlv.com, which is outside the permitted ISSUER_DOMAINS list, and docs.brl.xyz failed DNS resolution, leaving no fetched page on a permitted domain from which any structural or legal fact could be cited without fabrication or use of forbidden out-of-scope sources.

No token standard, supported blockchain networks, mint and burn mechanics, settlement timing, or NAV and oracle publication mechanism can be stated, because each is a material claim requiring a citation to a dossier source, and the dossier contains no fetched, in-scope source from which to cite any technical implementation detail for this token.

<Sources
  retrievedAt="2026-06-23"
  items={[

  ]}
/>


# Asset redemptions methodology

## 1. Overview

The total value of tokenized assets that are burned or returned to issuer-controlled addresses in exchange for offchain collateral assets is measured by the asset redemptions metric. User demand to exit asset positions and reclaim backing collateral is reflected by this metric. Daily redemption volumes are aggregated across all supported blockchains and converted to USD using end-of-day price feeds. A comprehensive view of capital outflows from tokenized assets is provided by this metric.

## 2. Data sources

- **EVM chain events**: ERC-20 token transfers, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: SPL token burn instructions and balance changes
- **Non-EVM chain events**: Native token burn events, transaction net flows, and asset pallet events covering Algorand, Cardano, Injective, Near, Polkadot Asset Hub, Ripple, Stacks, Stellar, and Sui
- **Asset metadata**: Token addresses and decimal precision
- **External data**: End-of-day price feeds

## 3. Step-by-step calculation

### Component A: Extract raw redemption and burn events

- **Purpose**: Token destruction or return to issuer custody across all supported blockchains is identified.
- **Logic**: On EVM-compatible chains, ERC-20 `Transfer` events are parsed where the recipient is the zero address or the dead address. On Solana, SPL token `Burn` instructions are parsed. On Algorand, token transfers to non-circulating configuration addresses (such as creator or reserve addresses) are extracted. On Cardano, negative token deltas are derived from transaction outputs and inputs. On Injective, token transfers with a burn event type are selected. On Near, token burn events are extracted. On Polkadot Asset Hub, `Burned` events from the assets pallet are parsed. On Ripple, transaction net flows that result in issuer inflows are identified. On Stacks, token transfers where the recipient address is null are parsed. On Stellar, SEP-41 `sep41_burn` events are extracted. On Sui, negative deltas are derived from total supply changes of treasury control objects.
- **Key fields**: `timestamp` (event time), `token_address` (asset contract address), `amount` (raw quantity)

### Component B: Apply premint corrections

- **Purpose**: Raw burn volumes are adjusted to exclude non-circulating token movements and include circulation exits.
- **Logic**: For supported assets, raw burn volumes are adjusted by subtracting preburns and adding premint redemptions. Preburns, which represent tokens burned directly from issuer-controlled premint addresses without ever entering circulation, are subtracted from the total. Premint redemptions, which represent transfers from circulating addresses back into premint addresses, are added to the total as they represent assets exiting active circulation.
- **Key fields**: `timestamp` (event time), `token_address` (asset contract address), `amount` (corrected quantity)

### Component C: Normalization and USD conversion

- **Purpose**: Token quantities are normalized by decimal precision and converted to USD.
- **Logic**: Daily token-denominated redemption amounts are aggregated by timestamp, chain, and token address. These amounts are normalized by decimal precision retrieved from token metadata. The normalized redemption amounts are then multiplied by end-of-day price feeds sourced from market data providers to calculate the final USD-denominated redemption value. If no redemptions occur on a given day, the daily value is filled with zero values.
- **Key fields**: `timestamp` (day), `chain_id` (blockchain identifier), `token_address` (asset contract address), `amount` (normalized token quantity), `price_usd` (asset price), `value` (USD-denominated redemption value)

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

Value of assets redeemed or burned for underlying collateral.

Asset redemptions

Stablecoins

Crown maintains BRLV at a fixed supply relative to user deposits while the underlying BRLY collateral accrues yield from Brazilian government bonds.

Crown BRLV is a non-rebasing Brazilian Real (BRL) stablecoin deployed on Base and backed 1:1 by Brazilian government bonds. It is engineered for payments, DeFi integration, and institutional treasury use; the underlying yield-bearing collateral layer (BRLY) accrues separately while BRLV maintains a fixed supply relative to deposits.

Crown is the issuer of BRLV, a non-rebasing Brazilian Real stablecoin, and the BRLY yield-bearing collateral layer.

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Stablecoin issuers

Crown BRLV

Crown BRLV (BRLV) is a Brazilian Real stablecoin issued by Crown BRLV.

Reserves are held in other assets, in accounts segregated from the issuer's own funds.

BRLV has been issued on Base as an ERC-20 token since July 2025, with a bridged version on one more network.

Crown BRLVBRLV