MACROX, issued by Conduit Asset Management Pte. Ltd., is a tokenized institutional fund that gives onboarded investors onchain exposure to Brevan Howard PT Fund Limited, a regulated alternative-investment strategy offered as a tokenized feeder vehicle on the KAIO protocol [S1][S2].

The token tracks the net asset value of Brevan Howard PT Fund Limited (MACROX); subscribers receive tokenized shares in a feeder vehicle that invests into the underlying fund, with shares calculated at the fund's then-current NAV at the next dealing date [S3][S4]. Returns accrue through movements in that NAV [S3]. Holders bear fees configured per instrument and paid in settlement tokens, including cumulative redemption fees, initial restricted-period fees, and redemption volume fees [S2].

The investment manager is Conduit Asset Management Pte. Ltd., incorporated in Singapore and licensed by the Monetary Authority of Singapore under a Capital Markets Services License [S1][S5]. The protocol is operated by the KAIO Foundation under English-law terms [S6]. Offerings run under Singapore's Securities and Futures Act 2001 or equivalent standards, solely for onboarded Accredited and Institutional Investors who clear KYC, AML, sanctions, and allowed-jurisdiction gates [S7][S5]. Each token is a permissioned security token representing a beneficial interest in the feeder fund [S3][S8]. Redemption runs through the Redemption Book, burning tokens and transferring a U.S. dollar-pegged stablecoin [S4].

Fund tokens are permissioned ERC-20 security tokens, with a separate U.S. dollar-backed Settlement Token used as the cash leg [S8][S9]. Smart contracts are deployed on Ethereum as the primary base layer, with cross-network availability via the KAIO Gateway bridge across Avalanche, Solana, XDC, Aptos, Hedera, Polygon, SEI EVM, Ethereum, and NEAR [S2][S10][S5]. Subscriptions and redemptions settle in admin-controlled batches against NAV maintained by the fund administrator [S4].

<Sources
  retrievedAt="2026-06-21"
  items={[
    { id: "S1", url: "https://www.kaio.xyz/" },
    { id: "S2", url: "https://docs.kaio.xyz/how-kaio-works/architecture.md" },
    { id: "S3", url: "https://docs.kaio.xyz/overview/products.md?ask=feeder-funds-domicile-backing-yield-minimum" },
    { id: "S4", url: "https://docs.kaio.xyz/how-kaio-works/smart-contracts/order-books/redemption-book.md" },
    { id: "S5", url: "https://docs.kaio.xyz/overview/faqs.md?ask=legal-entity-regulator-jurisdictions-minimum-fees-custody-networks-nav" },
    { id: "S6", url: "https://www.kaio.xyz/terms-of-use" },
    { id: "S7", url: "https://docs.kaio.xyz/overview/products.md" },
    { id: "S8", url: "https://docs.kaio.xyz/how-kaio-works/smart-contracts/tokens/security-token.md" },
    { id: "S9", url: "https://docs.kaio.xyz/how-kaio-works/smart-contracts/tokens/settlement-token.md" },
    { id: "S10", url: "https://docs.kaio.xyz/overview/faqs.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

KAIO operates through a decentralized network architecture that facilitates cross-chain communication and data transfer between various blockchain protocols. The project likely employs smart contract technology and consensus mechanisms to ensure secure and reliable operations across multiple networks. Their business model appears to center on providing infrastructure services and development tools to the broader blockchain community.

KAIO builds decentralized applications and infrastructure tools designed to enhance blockchain interoperability and user experience. The project focuses on creating seamless bridges between different blockchain networks while providing developers with robust tooling for cross-chain functionality. Their solutions aim to simplify complex blockchain operations and improve accessibility for both developers and end users.

KAIO is a blockchain-based project focused on developing decentralized infrastructure and tooling solutions for the crypto ecosystem.

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Real-world asset (RWA) issuers

KAIO

KAIO Brevan Howard PT Fund Limited (MACROX) is a tokenized fund share issued by KAIO and managed by Conduit Asset Management Pte. Ltd.

The fund invests in multi-asset in global markets.

Accredited investors and institutions can subscribe and redeem.

MACROX has been issued on public blockchains since September 2024 and is native to Polygon, Ethereum, and Sei EVM.

KAIO Brevan Howard PT Fund LimitedMACROX