Users make SEPA payments to Monerium and receive EURe at a 1:1 rate. 

Monerium is a financial technology company that is the principal architect of EURe - an EU regulated, full-reserve euro stablecoin that brings fiat euro liquidity on-chain.

Monerium is a private company registered in Iceland. Monerium's investors include Algorand, ConsenSys Mesh and The Icelandic Technology Development Fund etc.

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Monerium

# Monerium Outstanding supply Methodology

## 1. Overview

Outstanding supply measures the total amount of Monerium EURe stablecoin tokens currently in circulation across supported blockchain networks. This metric tracks the net cumulative issuance by calculating the difference between all token mints (new tokens created) and burns (tokens destroyed) over time. The calculation provides insight into the total supply of EURe tokens available in the market, which is essential for understanding the scale and adoption of Monerium's Euro-backed digital currency.

## 2. Data sources

The calculation relies on the following raw data sources:
- **Ethereum ERC-20 events**: Parsed `Transfer` events from Ethereum blockchain for EURe token contract `0x3231cb76718cdef2155fc47b5286d82e6eda273f`
- **Polygon ERC-20 events**: Parsed `Transfer` events from Polygon blockchain for EURe token contract `0x18ec0a6e18e5bc3784fdd3a3634b31245ab704f6`
- **Token metadata**: ERC-20 token information including decimal places and symbol data for proper unit conversion
- **End-of-day price feeds**: Daily EUR/USD exchange rates for currency conversion

## 3. Step-by-step calculation

### Component A: Mint event extraction
- **Purpose**: Identifies all EURe token creation events across supported chains
- **Logic**: Extracts `Transfer` events where the `from_address` equals the null address `0x0000000000000000000000000000000000000000`, indicating new tokens minted into circulation. Events are filtered to include only non-removed transactions for the specific EURe token contracts on Ethereum and Polygon networks. Each mint event captures the recipient address, transaction details, and token amount.
- **Key fields**: `block_timestamp` for timing, `to_address` for recipient, `value` for mint amount, `token_address` for contract identification, `transaction_hash` and `log_index` for event uniqueness

### Component B: Burn/redemption event extraction  
- **Purpose**: Identifies all EURe token destruction events across supported chains
- **Logic**: Extracts `Transfer` events where the `to_address` equals either the null address `0x0000000000000000000000000000000000000000` or the dead address `0x000000000000000000000000000000000000dead`, indicating tokens removed from circulation. Similar filtering applies for non-removed transactions and specific EURe contracts. Each burn event captures the sender address, transaction details, and token amount being destroyed.
- **Key fields**: `block_timestamp` for timing, `from_address` for sender, `value` for burn amount, `token_address` for contract identification, `transaction_hash` and `log_index` for event uniqueness

### Component C: Daily flow combination and aggregation
- **Purpose**: Combines mint and burn flows into net daily supply changes per chain and token
- **Logic**: Unions mint events (as positive amounts) with burn events (converted to negative amounts) to represent supply increases and decreases. Events are grouped by day using timestamp truncation, with separate aggregation by chain, token address, and business classification fields. Decimal correction is applied to convert raw token amounts to standard decimal representation. Daily net changes are calculated by summing all mint and burn amounts for each token/chain combination.
- **Key fields**: `timestamp` (truncated to day), `chain` identifier, `amount` (decimal-corrected net change), `token_address`, business classification fields

### Component D: Cumulative outstanding supply calculation
- **Purpose**: Converts daily net changes into running total of outstanding supply
- **Logic**: Applies window function to calculate cumulative sum of daily net amounts, partitioned by chain and token address, ordered chronologically by timestamp. This creates a running balance showing total outstanding supply at each point in time. Forward filling is applied to populate any missing days with the most recent outstanding supply value, ensuring complete daily time series coverage.
- **Key fields**: `outstanding_supply` (cumulative total), `timestamp`, `chain`, `token_address`

### Final aggregation
- **Combining components**: The intermediate outstanding supply calculations are passed through standardized processing that fills any remaining gaps in the daily time series
- **Currency conversion**: Outstanding supply amounts are converted from EUR to USD using end-of-day exchange rates through the convert_to_usd macro, with decimal correction disabled since amounts are already properly formatted
- **Time aggregation**: Daily boundaries are maintained throughout the calculation, with all events truncated to day-level timestamps for consistent aggregation
- **Final calculation**: The finalize_metric_outstanding_supply macro applies the standard schema, validates business classification IDs, ensures no gaps in the time series using forward fill strategy, and applies chain availability filters to include only supported blockchain networks in the final output

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

Circulating supply of stablecoins issued by the project.

Monerium

Outstanding supply

Outstanding supply

Competitive landscape

Chain breakdown