HYUSD, issued by the Hylo Protocol smart contracts under the governance of onchain Solana programs, is a decentralized stablecoin pegged 1:1 to the U.S. dollar (USD) and backed by a shared pool of Solana liquid staking tokens. [S1][S2]

Each HYUSD references the U.S. dollar (USD) at a 1:1 peg and is backed by a diverse basket of Solana liquid staking tokens (LSTs) held in a shared onchain collateral pool, not cash or U.S. Treasury bills. [S1][S2] HYUSD held outright accrues no yield; all harvested LST yield is concentrated into the Stability Pool token sHYUSD. [S3] Fees are dynamic, tied to the Collateral Ratio, and minimal when collateralization exceeds 150%. [S4][S5]

Hylo is presented as a decentralized protocol issuing tokens through onchain Solana programs rather than a single corporate entity, and no issuing legal entity is constituted. [S1][S2] The holder's claim is mechanical redemption against the onchain collateral pool rather than a traditional legal instrument. [S1] No holder eligibility gating is imposed, and HYUSD may be redeemed at any time directly against the pool, with redemption fees varying by Collateral Ratio. [S1][S5][S4] Reserves are held onchain in the protocol's collateral pool and are auditable onchain at any time, protected by the Collateral Ratio framework, two-tier Stability Modes, and the Stability Pool. [S1][S5]

HYUSD is issued natively on the Solana blockchain. [S1][S2] Tokens are minted and redeemed directly against the onchain collateral pool, with settlement effectively immediate onchain. [S1][S2] The system computes the Collateral Ratio and token prices from a SOL price input; HYUSD is fixed at 1 USD. [S2][S5] Program releases are audited by OtterSec and Accretion. [S6]

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://hylo.so/hyusd" },
    { id: "S2", url: "https://docs.hylo.so/protocol-overview/hyUSD-&-xSOL" },
    { id: "S3", url: "https://docs.hylo.so/protocol-overview/earning-yield-with-hyUSD.md" },
    { id: "S4", url: "https://docs.hylo.so/protocol-overview/get-leverage-with-xSOL.md" },
    { id: "S5", url: "https://docs.hylo.so/protocol-overview/risk-management.md" },
    { id: "S6", url: "https://docs.hylo.so/security/audits.md" },
  ]}
/>


# Asset transfer volume methodology

## 1. Overview

Asset transfer volume is defined as the total value of assets transferred onchain. Since transaction fees are paid by users for each transfer, a correlation is typically observed between this metric and the customer demand that exists to use an asset for transacting purposes. Daily transfer volumes are aggregated across all supported blockchains, normalized by decimal precision, and converted into USD. To ensure an accurate representation of economic activity, transactions involving non-circulating treasury or premint addresses are subtracted where applicable.

## 2. Data sources

- **EVM chain events**: ERC-20 token transfers, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, Tron, Starknet, zkSync Era, and others)
- **Solana instructions**: SPL token transfers, mints, and burns
- **Aptos events**: Token withdraw events
- **Near events**: Token transfer events
- **Polkadot Asset Hub events**: `Transferred` events from the `assets` pallet
- **Cardano UTXO transactions**: Token deposits, withdrawals, and mint/burn events
- **Stellar operations**: Classic token withdrawals and Soroban SEP-41 token transfers
- **Sui transactions**: Token withdrawals and `TreasuryCap` supply changes
- **Algorand transactions**: Asset transfer transactions
- **Injective events**: Token transfer, mint, and burn events
- **Stacks transactions**: Token transfer events
- **Asset metadata**: Token contract addresses and decimal precision
- **External data**: End-of-day price feeds and fiat exchange rates

## 3. Step-by-step calculation

### Component A: Raw transfer volume extraction

- **Purpose**: Extract raw token transfer quantities from onchain events and transactions
- **Logic**: On EVM-compatible chains, token transfer quantities are extracted from ERC-20 `Transfer` events. On Solana, quantities are extracted from SPL token transfers, mints, and burns. On Aptos, Near, Algorand, Injective, and Stacks, transfer volumes are parsed from native token transfer and withdrawal events. On Polkadot Asset Hub, volumes are extracted from `Transferred` events emitted by the `assets` pallet. On Cardano, UTXO withdrawals and mint events are aggregated to capture all token movements. On Stellar, classic token withdrawals and Soroban SEP-41 transfer, mint, and burn events are parsed. On Sui, token withdrawals are combined with mint events derived from `TreasuryCap` supply changes.
- **Key fields**: `timestamp` (the day of the transfer) `token_address` (the contract or asset identifier) `amount` (the raw transfer quantity)

### Component B: Premint and preburn correction

- **Purpose**: Exclude non-circulating token movements to isolate genuine economic transfer volume
- **Logic**: For supported chains, raw transfer volumes are corrected by subtracting premints and preburns. Premints are defined as tokens minted directly into designated project treasury or premint addresses, while preburns are represented by tokens burned directly from these non-circulating addresses. On EVM-compatible chains, Solana, Injective, Stacks, and Stellar Soroban, these flows are identified by filtering transfers where the sender or recipient matches a known treasury address. On Algorand, transfers between asset configuration addresses and treasury addresses are subtracted. On Cardano, deposits to and withdrawals from treasury addresses during mint or burn transactions are netted out.
- **Key fields**: `amount` (the corrected transfer quantity) `token_address` (the contract or asset identifier) `timestamp` (the day of the transfer)

### Component C: Decimal normalization and zero-filling

- **Purpose**: Normalize token quantities to human-readable units and ensure continuous daily time series
- **Logic**: Raw token quantities are normalized by the decimal precision retrieved from the asset metadata. For days with no recorded transfer activity, the time series is filled with zero values to maintain a continuous daily record for each asset.
- **Key fields**: `amount` (the normalized transfer quantity) `decimals` (the decimal precision of the token)

### Component D: USD conversion and final aggregation

- **Purpose**: Convert normalized transfer volumes to USD and aggregate across all chains
- **Logic**: Normalized daily transfer volumes are multiplied by the end-of-day price feeds sourced from market data providers. For assets pegged to fiat currencies other than USD, daily exchange rates are applied using Chainlink FX price feeds to determine the USD-equivalent value. The final daily asset transfer volume is calculated by summing the USD-denominated transfer volumes across all active chains for each asset.
- **Key fields**: `price_usd` (the end-of-day market price of the asset in USD) `amount_usd` (the final transfer volume in USD)

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

Asset transfer volume

Stablecoins

The protocol operates through smart contracts that handle community formation, governance voting, and resource allocation, with communities able to customize their economic models and decision-making processes. Revenue is generated through protocol fees and premium features for community creators, while leveraging blockchain technology to ensure transparent governance and data ownership.

The project provides infrastructure for building community-driven social applications with integrated governance, token economics, and reputation systems. Hylo focuses on creating decentralized alternatives to traditional social media platforms, emphasizing community ownership and member-controlled governance structures.

Hylo is a decentralized protocol that enables communities to create and manage their own social networks and collaborative platforms on-chain.

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Real-world asset (RWA) issuers

Hylo

Hylo USD (HYUSD) is a U.S. dollar stablecoin issued by Hylo.

Retail investors can mint and redeem directly with Hylo in USDC.

HYUSD has been issued on Solana as a SPL Token token since April 2025.

Hylo USDHYUSD