SDUSD, issued by the dTRINITY Protocol smart contracts under the governance of prospective TRIN tokenholders, is a tokenized yield-bearing vault interest that represents staked dUSD deposited into the dLEND lending market and accrues value over time. [S1][S2]

Each SDUSD token represents a claim on dUSD staked through the dSTAKE ERC-4626 vault, whose underlying backing consists of over-collateralized dUSD loans held within the dLEND lending market. [S1][S2] Holders receive a total-return accrual as the SDUSD to dUSD exchange rate increases over time, driven by lending yield from dLEND, rather than a rebasing balance. [S1][S2] Unstaking SDUSD back to dUSD may incur a fee of up to 0.1%, retained by the vault for the benefit of remaining holders. [S2]

The interfaces and documentation are operated by Trinity Foundation Ltd., a Singapore-based non-profit public company limited by guarantee, which states it does not control or operate the protocol; the asset is not issued by a single corporate entity but minted permissionlessly via smart contracts. [S3] The Terms of Use are governed by the laws of the Cayman Islands, and tokens are held non-custodially in users' wallets. [S3] Users must be at least 18 and not resident in any Restricted Region, including Singapore, the United Kingdom, the United States, and Russia. [S4] Holders unstake by depositing SDUSD to receive dUSD, with capacity set by available dUSD liquidity in dLEND. [S2]

SDUSD is an ERC-4626 vault token. [S1] The full protocol is native to Fraxtal, the genesis network since the fourth quarter of 2024, with native deployment on Ethereum mainnet from the first quarter of 2026; reserves and collateral are chain-isolated and not fungible across networks. [S5] Value accrues onchain via an increasing SDUSD to dUSD exchange rate, with settlement effectively immediate per transaction. [S1][S5]

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://docs.dtrinity.org/key-concepts/dtrinity" },
    { id: "S2", url: "https://docs.dtrinity.org/informational/faq" },
    { id: "S3", url: "https://docs.dtrinity.org/informational/terms-of-use" },
    { id: "S4", url: "https://docs.dtrinity.org/informational/restricted-regions" },
    { id: "S5", url: "https://docs.dtrinity.org/key-concepts/network-support" },
  ]}
/>


# Asset senders (weekly) methodology

## 1. Overview

`Asset senders (weekly)` is defined as the number of unique addresses that initiate asset transfers over a rolling 7-day period. For each tracked asset, outgoing transactions are analyzed to identify the addresses responsible for moving tokens. This metric is utilized as a key indicator of weekly user activity and transactional engagement for tokenized assets across various blockchain networks. By aggregating unique sending addresses within a moving 7-day window, short-term fluctuations are smoothed out to provide a clearer view of active adoption.

## 2. Data sources

- **EVM chain events**: ERC-20 token transfers, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: Token transfer instructions
- **Other blockchain data**: Token transfer and withdrawal events from Aptos, Near, Polkadot Asset Hub, Stellar, Sui, Ripple, and others
- **Asset metadata**: Token contract addresses and asset mapping datasets

## 3. Step-by-step calculation

### Component A: Extraction of daily sending addresses

- **Purpose**: Identify and extract unique addresses initiating token transfers on a daily basis for each asset.
- **Logic**: On EVM-compatible chains, sending addresses are extracted from ERC-20 token transfers where the sender address is not the null address. On Solana, sending addresses are identified from token transfer instructions using the authority address. On Aptos, Sui, Cardano, and Stellar Classic, sending addresses are retrieved from token withdrawal events. On Stellar Soroban, transfers are parsed from Soroban token transfer events, excluding mint transactions where the sender address is null. On Polkadot Asset Hub, `Transferred` events from the `assets` pallet are parsed to identify the sender. On Ripple, outgoing transfers are identified where the transaction value is negative. On Near and Injective, sending addresses are extracted from token transfer events where the sender address is populated.
- **Key fields**: `timestamp` (block time truncated to the day), `token_address` (the contract or asset identifier), `sender_address` (the address initiating the transfer)

### Component B: Rolling 7-day window aggregation

- **Purpose**: Aggregate daily active senders into a rolling 7-day window to calculate weekly activity.
- **Logic**: A daily datespine is generated to establish a continuous timeline. For each day in the timeline, a rolling 7-day window is constructed by looking back at the preceding six days. Daily unique sending addresses are mapped to each active window based on their transaction timestamps.
- **Key fields**: `timestamp` (the reference day for the rolling window), `token_address` (the asset identifier), `sender_address` (the address active within the window)

### Component C: Final deduplication and aggregation

- **Purpose**: Calculate the final weekly unique sender count per asset and chain.
- **Logic**: Within each rolling 7-day window, sending addresses are deduplicated to ensure each unique address is counted only once per asset, regardless of transaction frequency. The deduplicated counts are aggregated at both the individual chain level and the global asset level. Missing dates are filled with zero values to maintain a continuous time series.
- **Key fields**: `timestamp` (the reference day), `chain_id` (the blockchain identifier), `token_address` (the asset contract address), `asset_senders_weekly` (the count of unique weekly sending addresses)

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

Unique asset senders over a rolling 7-day window.

Asset senders (weekly)

Tokenized funds

dUSD is minted by depositing supported collateral stablecoins into the dTRINITY protocol; redemption is 1:1 against reserves. The reserve yield mechanism rebates borrowing interest on dLEND for DUSD borrowers, creating a unique cost-reduction loop versus typical stablecoin yield distribution.

dTRINITY issues dUSD (DUSD) and its staked variant sdUSD across multiple chains (Ethereum, Fraxtal, Katana, Ronin). DUSD is 1:1 USD-pegged and backed by an on-chain reserve of USDC, FRAX, DAI, sFRAX, and sDAI. Reserve yield is used to subsidise borrowing costs on the dLEND lending market rather than distributed to token holders.

dTRINITY is a decentralized stablecoin protocol that issues dUSD, a USD-pegged stablecoin backed by exogenous on-chain reserves of other USD-denominated stablecoins.

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Stablecoin issuers

dTRINITY

dTRINITY Staked dUSD (SDUSD) is a tokenized fund share issued by dTRINITY through Trinity Foundation Ltd.

The fund is open-ended, invests in private credit, and locks up subscriptions for 0 months.

Retail investors can subscribe and redeem in dUSD and instant subscription settlement, and holders have a right to redeem at net asset value with instant settlement.

Trinity Foundation Ltd. is the issuing entity.

Holder terms are governed by the law of the Cayman Islands.

dTRINITY Staked dUSDSDUSD