gBENJI, issued by Franklin Advisers, Inc., is a tokenized money market fund interest that represents one share of the Franklin OnChain U.S. Government Money Fund, recorded onchain through the Benji platform [S1][S2].

Holders gain economic exposure to the Franklin OnChain U.S. Government Money Fund (FOBXX), which invests at least 99.5% of total assets in U.S. Treasury securities, cash, and repurchase agreements collateralized by U.S. government securities or cash [S2]. Income accrues daily through newly minted tokens delivered into holders' wallets while NAV stays at $1.00 [S1][S2]. The investment manager contractually caps total annual operating expenses at 0.20% until July 31, 2026 [S2].

The Franklin OnChain U.S. Government Money Fund is a U.S.-registered open-end money market fund operating under the U.S. Investment Company Act of 1940 and consistent with Rule 2a-7, regulated by the U.S. Securities and Exchange Commission (SEC) [S2]. Each token represents one registered fund share, with records under the control of the fund's transfer agent, which may correct unauthorized transactions and limit transferability [S2]. The fund is offered to eligible U.S. retail and institutional investors completing identity verification, KYC, and AML screening [S1][S2]. Shares are redeemed at $1.00 through the App or Institutional Web Portal during business hours, and underlying securities sit with a qualified custodian [S2].

Tokens are deployed natively across public blockchains including Stellar, Polygon, Arbitrum, Avalanche, Aptos, Ethereum, Base, and Solana, with gBENJI listed as an Ethereum variant [S3]. Shares are issued and redeemed at the stable $1.00 NAV during business hours, with daily income minted into wallets [S2]. Cross-chain movement uses a burn-and-mint mechanism preserving supply integrity [S1].

<Sources
  retrievedAt="2026-06-24"
  items={[
    { id: "S1", url: "https://digitalassets.franklintempleton.com/benji/" },
    { id: "S2", url: "https://www.franklintempleton.com/investments/options/money-market-funds/products/29386/SINGLCLASS/franklin-on-chain-u-s-government-money-fund/FOBXX" },
    { id: "S3", url: "https://digitalassets.franklintempleton.com/benji/benji-contracts/" },
  ]}
/>


# Asset transfer count methodology

## 1. Overview

Asset transfer count is defined as the number of user transactions that move assets between addresses. It is utilized to reflect how frequently assets are used for payments, trading, or other onchain activity. The metric is calculated daily for each tracked asset across all supported blockchains. By aggregating these transfer events, a comprehensive view of onchain utility and transactional velocity is provided.

## 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 transfers
- **Other blockchain events**: Token transfers, withdrawals, and mint events across non-EVM chains (Solana, Aptos, Near, Polkadot Asset Hub, Stellar, and others)
- **Asset metadata**: Token addresses and decimal precision

## 3. Step-by-step calculation

### Component A: Extract and count raw transfer events

- **Purpose**: Identify and count individual token transfer events on a daily basis for each asset.
- **Logic**: On EVM-compatible chains, ERC-20 token transfers are parsed and counted. On Solana, SPL token transfers are parsed and counted. On Aptos, Near, and Ripple, token transfers and withdrawals are parsed and counted. On Stellar, classic token withdrawals and Soroban token transfers are aggregated. On Sui, token withdrawals and token mint events are aggregated. On Cardano, UTXO withdrawals and token mint events are aggregated. On Polkadot Asset Hub, `Transferred` events from the `assets` pallet are parsed.
- **Key fields**: `token_address`: The unique identifier of the token contract or asset. `block_timestamp`: The timestamp of the transaction block.

### Component B: Daily aggregation and zero-filling

- **Purpose**: Aggregate the daily transfer counts per asset and ensure continuous time-series data.
- **Logic**: The extracted transfer counts are aggregated daily for each token address on its respective chain. For days where no transfer activity is recorded for a tracked asset, the time series is filled with zero values to ensure a continuous daily record.
- **Key fields**: `timestamp`: The day of the activity. `asset_transfer_count`: The daily count of transfers per token on a specific chain.

### Component C: Final aggregation

- **Purpose**: Combine the daily transfer counts across all supported chains for each asset.
- **Logic**: The daily transfer counts from all individual chains are combined. Token addresses are mapped to unique asset identifiers using asset metadata. The final daily asset transfer count is then aggregated across all chains for each asset.
- **Key fields**: `timestamp`: The day of the activity. `asset_transfer_count`: The total aggregated daily transfer count for the asset.

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

Number of transfer transactions involving the asset.

Asset transfer count

Tokenized funds

Franklin Templeton operates by deploying traditional investment management expertise combined with blockchain technology, utilizing on-chain fund tokenization and smart contracts to create regulated digital asset products. Their business model centers on providing institutional clients with compliant access to digital assets while maintaining fiduciary standards, generating revenue through management fees on their blockchain-integrated investment vehicles.

The organization provides institutional-grade digital asset investment solutions, including tokenized money market funds and blockchain-based financial products. They focus on bridging traditional finance with decentralized technologies, offering regulated digital asset management services and pioneering on-chain fund structures that leverage blockchain infrastructure for enhanced transparency and efficiency.

Franklin Templeton is a global investment management firm with over 70 years of experience that has expanded into digital assets and blockchain technology through its dedicated digital assets division.

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Real-world asset (RWA) issuers

Franklin Templeton

Franklin OnChain U.S. Government Money Fund (Luxembourg UCITS) (gBENJI) is a tokenized fund share issued by Franklin Templeton.

Each token is a direct claim on the issuer.

The fund invests in U.S. money market instruments.

gBENJI has been issued on Stellar as a Stellar classic asset token since February 2025.

Franklin OnChain U.S. Government Money Fund (Luxembourg UCITS)gBENJI