DLD-25-TRE-L304-M, issued by Ctrl Alt Ltd, is a tokenized fund interest that gives tokenholders fractional exposure to LIV RESIDENCE (DLD-25-TRE-L304-M) through a regulated tokenization structure. [S1][S2]

The reference asset is LIV RESIDENCE (DLD-25-TRE-L304-M) (ticker DLD-25-TRE-L304-M), a U.S.-listed instrument held through a separate legal vehicle in which tokenholders are shareholders, with the asset owned by that vehicle rather than by Ctrl Alt. [S3][S2] Returns derive from the performance of the underlying alternative asset, and capital is at risk. [S4] If the underlying issues a dividend or distribution and eligibility requirements are met, economic benefit passes through the structure. [S3] Fees are disclosed on the platform and in trade confirmations. [S5]

Ctrl Alt Ltd, incorporated in England and Wales and authorized by the Financial Conduct Authority (FRN 1045023), issues this product, with Ctrl Alt Solutions FZCO licensed by Dubai's Virtual Assets Regulatory Authority for broker-dealer and issuer services. [S5][S4] The holder's claim takes the form of a Receipt Token, a tokenised trade confirmation, while the underlying interest is shares in a Guernsey protected cell company held by the investor or a nominated third-party custodian. [S5] Access is limited to professional and institutional investors following KYC and AML onboarding. [S3][S4] No guaranteed redemption exists, and investors may hold their shares for an indefinite period. [S5]

Tokens in this class are issued onchain on Solana and the XRP Ledger (Ripple). [S6][S7] Ctrl Alt provides the technology stack to mint onchain issuance, run compliance checks, and perform real-time cap-table management, with settlement via onchain transactions and smart contracts enabling immediate transfers. [S1][S2][S7] Digital-asset custody for XRPL projects is provided through Ripple's institutional-grade custody technology. [S6][S8]

<Sources
  retrievedAt="2026-06-19"
  items={[
    { id: "S1", url: "https://www.ctrl-alt.co/" },
    { id: "S2", url: "https://www.ctrl-alt.co/for-asset-managers/asset-owners" },
    { id: "S3", url: "https://www.ctrl-alt.co/faq" },
    { id: "S4", url: "https://www.ctrl-alt.co/compliance-hub" },
    { id: "S5", url: "https://www.ctrl-alt.co/terms-and-conditions" },
    { id: "S6", url: "https://www.ctrl-alt.co/press-releases/billiton-ctrl-alt-diamond-tokenization" },
    { id: "S7", url: "https://www.ctrl-alt.co/press-releases/first-tokenized-structured-product-on-solana" },
    { id: "S8", url: "https://www.ctrl-alt.co/press-releases/ripple-expands-global-custody-footprint-into-middle-east-with-ctrl-alt" },
  ]}
/>


# Asset holders methodology

## 1. Overview

Asset holders is measured as the number of unique addresses that hold a non-zero balance of a project’s assets. This metric is used by investors to track the expansion or contraction of the asset holder base over time. Data is aggregated daily for each tracked asset across all supported blockchain networks.

## 2. Data sources

- **EVM chain data**: Ledger state and ERC-20 `Transfer` events, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others).
- **Solana instructions**: SPL token account data and transfer instructions.
- **Other chain types**: Account and balance data from Aptos, Near, and Polkadot Asset Hub.
- **Asset metadata**: Token contract addresses and decimal precision retrieved from asset metadata.

## 3. Step-by-step calculation

### Component A: Address balance identification

- **Purpose**: Identify all unique addresses associated with a specific token and determine their current holdings.
- **Logic**: For EVM-compatible chains, balances are derived by parsing ERC-20 `Transfer` events or by querying the ledger state for all addresses that have interacted with the token contract. On Solana, account balances are retrieved from the SPL token program. Similar account-based balance records are extracted for Aptos, Near, and Polkadot Asset Hub to identify the population of potential holders.
- **Key fields**: `token_address` (the contract address of the asset), `address` (the unique identifier of the holder), `timestamp` (the time of the state record).

### Component B: Normalization and non-zero filtering

- **Purpose**: Ensure token amounts are accurate and exclude addresses that no longer hold the asset.
- **Logic**: Decimal precision is retrieved from token metadata for each asset. All raw amounts are normalized by decimal precision. A filter is applied to exclude any address where the resulting balance is zero. Only addresses with a positive balance are retained for the final count.
- **Key fields**: `amount` (the normalized quantity of tokens held), `decimals` (the precision factor for the asset).

### Component C: Daily aggregation and gap filling

- **Purpose**: Calculate the final daily count and ensure continuity in the time series.
- **Logic**: Unique addresses are counted for each asset per chain on a daily grain. The data is combined across all chains to provide a total holder count per asset. For days where no new balance changes are recorded, the metric is filled with zero values or the previous known state is maintained to ensure a continuous daily record.
- **Key fields**: `asset_holders` (the count of unique addresses), `timestamp` (the day of the observation).

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

Unique addresses holding a non-zero balance of the asset.

Asset holders

Tokenized funds

Ctrl Alt structures real-world assets into special-purpose vehicles, tokenizes the economic interest on public blockchains (primarily the XRP Ledger and Solana), and handles issuance, custody, and lifecycle administration.

Ctrl Alt is a real-world-asset tokenization platform issuing tokenized alternative-asset products across the XRP Ledger and Solana.

Ctrl Alt is a UK-based tokenization infrastructure provider that gives institutions and platforms access to alternative real-world assets through a single API and custody-backed token issuance.

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Real-world asset (RWA) issuers

Ctrl Alt

LIV RESIDENCE (DLD-25-TRE-L304-M) (DLD-25-TRE-L304-M) is a tokenized fund share issued by Ctrl Alt.

DLD-25-TRE-L304-M has been issued on XRP Ledger as a XRPL issued currency token since February 2026.

LIV RESIDENCE (DLD-25-TRE-L304-M)DLD-25-TRE-L304