Native Markets issues USDH through Bridge (a Stripe company) with 1:1 backing by US Treasuries, cash, and cash equivalents managed by BlackRock (offchain) and Superstate (onchain), custodied through JP Morgan Chase and Fireblocks. The platform offers KYC in minutes with direct Hyperliquid onramp at no cost, permissionless DeFi swapping, monthly third-party reserve attestations, and GENIUS Act compliance alignment. Additionally, 50% of USDH gross revenue flows to the Hyperliquid Assistance Fund supporting protocol buybacks.

Native Markets is an American DeFi company offering USDH, a fully-backed stablecoin designed to make cryptocurrencies accessible for everyday financial transactions worldwide with institutional-grade infrastructure and compliance.

Native Markets serves users seeking accessible stablecoins for everyday financial transactions globally, traders on Hyperliquid wanting fee benefits (20% lower taker fees, 50% maker rebate increases), and DeFi participants needing a compliant, fully-backed USD stablecoin with transparent reserves.

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Stablecoin issuers

Native Markets

# Active addresses (weekly) Methodology

## Overview

Active addresses (weekly) measures the number of unique addresses that make a transaction with a project, i.e. An application or a blockchain. Weekly active addresses are measured on a 7-day rolling basis.

## Data sources

- On-chain transaction records (sender addresses, receiver addresses, and timestamps)
- Program instructions and transaction metadata
- Asset metadata for chain and project identification

## Common calculation approaches

### Transaction sender identification
Sender addresses are extracted from transaction records across blockchains including Ethereum, BNB Chain, and Polygon. Unique initiators are identified from sender address fields and aggregated over a rolling 7-day period to measure network activity.

### Signer and instruction tracking
On Solana, active accounts are identified by extracting unique signers from program instructions. Data is aggregated from both successful and failed transactions to provide a comprehensive view of account activity and network demand.

### Delegated action handling
For networks with specific account abstraction features, such as NEAR Protocol, transaction initiators are identified by distinguishing between standard actions and delegate actions. For meta transactions on NEAR Protocol, the receiver account is identified as the active user to accurately represent user engagement.

**Note:** The calculation approaches and protocol examples above are representative patterns. Individual protocol implementations may vary.

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

Unique active addresses over a rolling 7-day window.

Native Markets

Active addresses (weekly)

Active addresses (weekly)

Competitive landscape