XFTB, issued by Open Trade Technology Ltd, is a tokenized-fund vault that gives professional lenders onchain exposure to the strategy tracking FT Money Market Fund Yield [S1][S2].

The vault references FT Money Market Fund Yield (XFTB) as eligible loan collateral funding a fully collateralised secured loan to the borrower [S3][S4]. Return accrues through an appreciation model rather than rebasing, so the token's exchange rate against the stablecoin rises daily as interest accrues [S5][S4]. Fees are borne by the borrower and netted from the benchmark, producing a Loan Fee Rate after advisor, platform, liquidity, and spread components [S5].

Open Trade Technology Ltd, registered in England and Wales, operates the platform as a technology provider and is not a party to the loans [S6][S7]. The borrower is OpenTrade SPC, a bankruptcy-remote Cayman Islands segregated portfolio company whose portfolio is managed by Five Sigma Finance Ltd., an FCA-regulated firm [S8][S9]. The tokenholder is a lender under a Master Lending Agreement, Loan Confirmations, and a Security Trust Deed, holding a secured claim [S10][S2]. Access is restricted to professional, institutional, and high-net-worth clients after KYC and AML screening, with sanctioned jurisdictions excluded [S11][S7]. Mulvaney Trustees (UK) Ltd holds a perfected security interest in collateral at regulated UK and Swiss custodians [S12][S3].

Vault tokens follow the ERC-20 standard within ERC-4626 vaults issued natively on Avalanche and Ethereum [S2][S13][S14]. Tokens are minted when a stablecoin deposit funds the loan and burned on withdrawal, with redemptions settling in the same stablecoin deposited [S2][S15]. Most withdrawals settle same-day, up to two business days, against a 6pm GMT cut-off, with value set by the daily exchange rate rather than an external oracle [S4][S15].

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://docs.opentrade.io/stablecoin-yield-vaults/product-overview/vaults.md" },
    { id: "S2", url: "https://docs.opentrade.io/stablecoin-yield-vaults/product-overview/vault-tokens.md" },
    { id: "S3", url: "https://docs.opentrade.io/stablecoin-yield-vaults/product-overview/loan-collateral.md" },
    { id: "S4", url: "https://docs.opentrade.io/stablecoin-yield-vaults/product-overview/exchange-rates.md" },
    { id: "S5", url: "https://docs.opentrade.io/stablecoin-yield-vaults/product-overview/interest-rate-and-fees.md" },
    { id: "S6", url: "https://docs.opentrade.io/terms-and-conditions/platform-terms-of-service.md" },
    { id: "S7", url: "https://docs.opentrade.io/terms-and-conditions/platform-terms-of-service.md" },
    { id: "S8", url: "https://docs.opentrade.io/stablecoin-yield-vaults/product-overview/legal/bankruptcy-remote-structure.md" },
    { id: "S9", url: "https://docs.opentrade.io/stablecoin-yield-vaults/product-overview/key-parties.md" },
    { id: "S10", url: "https://docs.opentrade.io/stablecoin-yield-vaults/product-overview/legal.md" },
    { id: "S11", url: "https://docs.opentrade.io/getting-started/onboarding/eligibility-requirements.md" },
    { id: "S12", url: "https://docs.opentrade.io/stablecoin-yield-vaults/product-overview/legal/security-trust-deed.md" },
    { id: "S13", url: "https://docs.opentrade.io/developers/blockchain-protocol.md" },
    { id: "S14", url: "https://docs.opentrade.io/welcome-to-opentrade/supported-blockchain-networks.md" },
    { id: "S15", url: "https://docs.opentrade.io/getting-started/how-to-make-a-withdrawal.md" },
  ]}
/>


# Asset senders (monthly) methodology

## 1. Overview

Asset senders (monthly) is defined as the number of unique addresses from which asset transfers are initiated over a rolling 30-day period. For each tracked asset, outgoing transfer transactions are analyzed across supported blockchains to identify the sending addresses. These addresses are deduplicated over a 30-day window to represent the monthly active sender base. This metric is utilized to evaluate user adoption, transactional activity, and the overall utility of tokenized assets.

## 2. Data sources

- **EVM chain events**: Token transfer events, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: Token transfer instructions
- **Aptos, Sui, Cardano, and Stellar Classic data**: Token withdraw transactions
- **Stellar Soroban, Algorand, Near, Injective, and Ripple data**: Token transfer transactions
- **Polkadot Asset Hub events**: `Transferred` events from `assets` pallets
- **Asset metadata**: Token contract addresses and decimal precision

## 3. Step-by-step calculation

### Component A: Extract daily asset senders

- **Purpose**: Identify unique addresses initiating transfers on a daily basis
- **Logic**: On EVM-compatible chains, token transfer events are parsed to extract the sender address from the transaction, excluding the zero address. On Solana, token transfer instructions are parsed to identify the authority address. On Aptos, Sui, Cardano, and Stellar Classic, token withdraw transactions are parsed to extract the account address. On Stellar Soroban, Algorand, Near, and Injective, token transfer transactions are parsed to extract the sender address, excluding null addresses. On Ripple, token transfer transactions with negative values are parsed to identify the sending account address. On Polkadot Asset Hub, `Transferred` events from `assets` pallets are parsed to extract the sender address. For all chains, the extracted addresses are grouped by day and token address to produce a daily record of unique senders.
- **Key fields**: `timestamp` (block day), `token_address` (asset identifier), `sender_address` (initiating address)

### Component B: Aggregate rolling monthly senders

- **Purpose**: Calculate the unique sender count over a rolling 30-day window
- **Logic**: A daily datespine is generated to establish a continuous timeline. For each day in the timeline, a 30-day lookback window is constructed, encompassing the current day and the preceding 29 days. Daily sender addresses collected within this window are aggregated and deduplicated. The total number of unique, deduplicated addresses is then counted for each asset on each day.
- **Key fields**: `timestamp` (calculation day), `token_address` (asset identifier), `asset_senders` (unique monthly sender count)

### Component C: Final aggregation and zero-filling

- **Purpose**: Combine data across chains and fill missing activity days
- **Logic**: The deduplicated monthly sender counts are aggregated at both the individual chain level and the global asset level. For days where no transfer activity is recorded for a tracked asset, the metric is filled with zero values to maintain a continuous time series.
- **Key fields**: `timestamp` (reporting day), `chain_id` (blockchain identifier), `token_address` (asset identifier), `asset_senders` (final monthly unique sender count)

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

Unique asset senders over a rolling 30-day window.

Asset senders (monthly)

Tokenized funds

Five Sigma manages the investment strategies behind OpenTrade's tokenized vaults (money market, asset-backed credit, corporate credit and diversified credit), which are tokenized and distributed on Avalanche and Ethereum.

Five Sigma is the asset manager behind a suite of OpenTrade tokenized credit and fixed-income vaults.

Five Sigma is an asset manager running credit and fixed-income strategies for tokenized vaults distributed via the OpenTrade platform.

twitter

website

Asset management

Five Sigma

OpenTrade FT Money Market Fund Yield (XFTB) is a token providing exposure to a tokenized fund issued by OpenTrade through OpenTrade SPC and managed by Five Sigma Finance Ltd.

Each token is a collateral-backed contractual exposure rather than a direct claim on the issuer.

The fund invests in U.S. money market instruments and government debt, keeps its assets in accounts segregated within a bankruptcy-remote structure, and charges a 0.15% annual management fee.

Professional investors, accredited investors, and institutions can subscribe and redeem in USDC after completing KYC, and holders have a right to redeem at net asset value.

OpenTrade SPC is incorporated in the Cayman Islands.

Holder terms are governed by the law of the United Kingdom.

XFTB has been issued on Avalanche as an ERC-4626 token since April 2025.

OpenTrade FT Money Market Fund YieldXFTB