nACRDX, issued by the Nest Protocol smart contracts under the governance of Nest DAO LLC, is a tokenized-fund vault token that gives holders total-return exposure to a tokenized portfolio of institutional real-world assets sourced from regulated originators. [S1][S2]

The vault provides economic exposure to the Apollo Diversified Credit Fund (ACRDX), a credit fund, with capital allocated to yield-generating positions held by third-party custodians such as BNY Mellon [S3][S4]. Returns accrue on a total-return basis as underlying positions generate yield, increasing the vault token value proportionally rather than through separate distributions [S2][S4]. Holders bear no management, minting, or subscription fees, while instant redemptions incur a liquidity fee of 0.1% to 0.5% [S5][S6].

The vault tokens are issued through Nest DAO LLC, a non-profit decentralized autonomous organization formed under the Marshall Islands DAO Act of 2022, and are not issued by a single corporate entity; the protocol is developed by Kimber Labs Inc., doing business as Plume Network Inc. [S7][S1]. Each token is an ERC-20 receipt token representing deposited assets in a non-custodial smart contract vault [S2][S7]. Access is permissionless with onchain AML screening rather than KYC, excluding the United States and restricted jurisdictions [S8][S9]. Holders redeem by burning tokens for their share plus accrued yield, settling in pUSD [S5]. Assets and cash are held by third-party custodians, never Nest [S4].

The token follows the ERC-20 standard, issued natively on Solana and distributed across EVM chains via LayerZero OFT infrastructure, with Plume Network as the primary settlement layer [S2][S10]. Users deposit pUSD to mint the token and burn it to redeem [S5]. Standard vaults often settle within roughly one hour, with longer-duration assets taking 30 to 90 days; NAV is published hourly with bounded price limits [S6][S3].

<Sources
  retrievedAt="2026-06-21"
  items={[
    { id: "S1", url: "https://docs.nest.credit/" },
    { id: "S2", url: "https://docs.nest.credit/support/glossary" },
    { id: "S3", url: "https://docs.nest.credit/about/vaults" },
    { id: "S4", url: "https://docs.nest.credit/security-and-compliance/flow-of-funds" },
    { id: "S5", url: "https://docs.nest.credit/introduction/how-to-use-nest" },
    { id: "S6", url: "https://docs.nest.credit/about/liquidity-and-redemptions" },
    { id: "S7", url: "https://docs.nest.credit/security-and-compliance/terms-and-conditions" },
    { id: "S8", url: "https://docs.nest.credit/security-and-compliance/aml" },
    { id: "S9", url: "https://docs.nest.credit/security-and-compliance/geographic-restrictions" },
    { id: "S10", url: "https://docs.nest.credit/about/cross-chain" },
  ]}
/>


# 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

Users deposit stablecoins into Plume Vaults and receive ERC-20 vault tokens whose NAV appreciates as the underlying yield strategy accrues. Fund managers and institutional partners (BlackRock, Apollo, WisdomTree, Hamilton Lane, Goldfinch) curate the strategies.

Plume Vaults operates a suite of yield-bearing vault tokens (nTBILL, nALPHA, nBASIS, nCREDIT, nWISDOM, nACRDX, nOPAL, nPERENA, nLCRD, nSCOPE) backed by audited offchain assets including U.S. Treasuries, private credit, and structured DeFi strategies. The platform rebranded from Nest to Plume Vaults, and the vault tokens keep the n- prefix from the Nest era.

Plume Vaults (Nest) is Plume Network's flagship RWA-staking protocol, giving users onchain access to institutional-grade yield through structured, non-custodial vaults.

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Real-world asset (RWA) issuers

Plume Vaults

Apollo ACRDX Plume Vault (nACRDX) is a tokenized fund share issued by Plume Vaults through Securitize Tokenized Apollo Diversified Credit Fund, Ltd.

The fund is open-ended and invests in private credit in global markets.

Retail investors can mint and redeem directly with Plume Vaults in USDC and pUSD, and holders have a right to redeem at net asset value with quarterly settlement.

Securitize Tokenized Apollo Diversified Credit Fund, Ltd. is incorporated in the British Virgin Islands, is offered under an SEC Regulation D exemption, is regulated under the British Virgin Islands securities regime, and is supervised by the BVI Financial Services Commission.

nACRDX has been issued on public blockchains since October 2025 and is native to Ethereum and Plume Network.

Apollo ACRDX Plume VaultnACRDX