SPX, issued by NYALA Digital Asset AG and tokenized by Smart Registry GmbH, is a tokenized security providing indirect economic exposure to the common stock of SpaceX through a special-purpose-vehicle structure recorded onchain as an electronic security [S1][S2].

The token tracks Space Exploration Technologies Corp. (SpaceX) indirectly via a special-purpose-vehicle holding rather than direct share ownership, with a fixed net asset value of 856 U.S. dollars (USD) per token. If the platform structure passes through equity-style returns, holders realize value through exit scenarios such as secondary-market trading, acquisition, or follow-on financing rounds [S3]. NYALA does not publish a fixed fee schedule; pricing is package-based and may include setup, issuance, transaction, and platform usage fees [S4][S5].

NYALA Digital Asset AG is a German stock corporation based in Berlin, Germany, with crypto-securities registration performed by its subsidiary Smart Registry GmbH, a BaFin-supervised registrar [S1][S2]. The token is an electronically registered security under Germany's Electronic Securities Act (eWpG), recorded in a BaFin-supervised crypto-securities register that provides statutory eWpG protections [S6][S2]. KYC and AML verification compliant with German and European Union regulation is integrated into onboarding [S5][S7]. Custody is provided via licensed multi-signature institutional third-party custodians or investor self-custody [S5][S7]. Exit is via a developing peer-to-peer onchain secondary market rather than issuer redemption [S6][S3].

The token uses the ERC-3643 standard developed for regulated securities, with built-in whitelist management and transfer restrictions, and is issued on the Stellar network among supported networks including Polygon and Peaq [S5]. Issuance assigns an ISIN with BaFin notified of terms, and settlement is recorded immutably onchain with near-instant settlement, eliminating the central securities depository requirement [S6][S2][S4][S5].

<Sources
  retrievedAt="2026-06-19"
  items={[
    { id: "S1", url: "https://www.nyala.de/en/about" },
    { id: "S2", url: "https://www.nyala.de/en/electronic-securities" },
    { id: "S3", url: "https://www.nyala.de/en/invest-digital-public-offering" },
    { id: "S4", url: "https://www.nyala.de/en/tokenization-platform" },
    { id: "S5", url: "https://www.nyala.de/en/product-features-platform" },
    { id: "S6", url: "https://www.nyala.de/en/blog/nyala-digital-asset-ag-pioneering-tokenized-stocks-in-germany" },
    { id: "S7", url: "https://www.nyala.de/en/faq" },
  ]}
/>


# Asset senders (daily) methodology

## 1. Overview

Asset senders (daily) is calculated as the number of unique addresses that initiate asset transfers within a fixed 24-hour window. Daily activity is measured from 00:00 UTC to 23:59 UTC for each tracked asset. Active transactors are isolated from passive recipients by identifying only the sending addresses of transactions. This metric is utilized to evaluate the daily active user base and transaction utility of tokenized assets across multiple blockchain networks.

## 2. Data sources

- **EVM chain events**: ERC-20 `Transfer` events, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: Token transfer instructions, covering Solana
- **Aptos, Cardano, Stellar Classic, and Sui events**: Token withdraw events, covering Aptos, Cardano, Stellar, and Sui
- **Near, Algorand, Injective, Ripple, and Stellar Soroban events**: Token transfer events, covering Near, Algorand, Injective, Ripple, and Stellar
- **Polkadot Asset Hub events**: `Transferred` events from the `assets` pallet, covering Polkadot Asset Hub
- **Asset metadata**: Token addresses and chain configurations

## 3. Step-by-step calculation

### Component A: Extract sender addresses

- **Purpose**: Identify and extract the unique sending addresses for each asset transfer across all supported chains.
- **Logic**: On EVM-compatible chains, sending addresses are extracted from the `from` field of ERC-20 `Transfer` events, excluding the zero address to filter out mint transactions. On Solana, sending addresses are extracted from the authority address field of token transfer instructions. On Aptos, Cardano, Stellar Classic, and Sui, sending addresses are identified from the account address field of token withdraw events. On Near, Algorand, Injective, and Stellar Soroban, sending addresses are extracted from the sender address field of token transfer events, with null addresses excluded. On Ripple, sending addresses are extracted from token transfer events where the transfer value is negative. On Polkadot Asset Hub, sending addresses are extracted from the event data of `Transferred` events emitted by the `assets` pallet.
- **Key fields**: `timestamp` (block timestamp truncated to daily grain), `token_address` (the contract or asset identifier), `sender_address` (the address initiating the transfer)

### Component B: Consolidate and deduplicate sender data

- **Purpose**: Aggregate sender addresses across all chains and prepare the dataset for daily unique counting.
- **Logic**: Sender records from all individual chains are consolidated into a unified dataset. For each asset on each chain, the sending addresses are grouped by day. To prevent double-counting, duplicate sender addresses for the same asset on the same chain within the same 24-hour window are removed.
- **Key fields**: `timestamp` (daily timestamp), `chain_id` (blockchain identifier), `token_address` (asset address), `sender_address` (unique sending address)

### Component C: Final aggregation

- **Purpose**: Calculate the final daily active sender count per asset and per chain.
- **Logic**: The consolidated dataset is aggregated to compute the daily active senders. Unique sending addresses are counted for each asset on a daily basis, both at the individual chain level and aggregated across all chains for multi-chain assets. If no transfer activity is recorded for a tracked asset on a given day, the daily sender count is filled with zero values.
- **Key fields**: `timestamp` (daily timestamp), `chain_id` (blockchain identifier), `token_address` (asset address), `asset_dau` (daily active senders count)

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

Unique asset senders over a fixed 24-hour window.

Asset senders (daily)

Tokenized stocks

NYALA tokenizes regulated securities under the German Electronic Securities Act (eWpG) and distributes them on public blockchains including Stellar and Polygon, hosting third-party issuers such as Cometum alongside its own pre-IPO equity.

NYALA Digital Asset AG is a regulated EU tokenization issuer. It powers tokenized assets such as the SpaceX Bond (SPX) and has tokenized its own pre-IPO preferred shares (NYALAVorzA).

NYALA Digital Asset AG is a German tokenization platform authorized to issue regulated tokenized securities in the European Union, covering the full lifecycle from issuance and distribution to transfers and corporate actions.

website

Real-world asset (RWA) issuers

NYALA Digital Asset AG

SpaceX Bond (Cometum) (SPX) is a tokenized exposure to SPCX issued by NYALA Digital Asset AG through Cometum Direct Invest GmbH & Co. KG and distributed through NYALA Digital Asset AG.

The token is a synthetic instrument that provides contractual exposure to the reference asset.

Holders rank as unsecured creditors of the issuer in insolvency.

Cometum Direct Invest GmbH & Co. KG is the issuing entity.

Holder terms are governed by the law of Germany.

SPX has been issued on Stellar as a Stellar classic asset token since March 2026.

SpaceX Bond (Cometum)SPX