srUSD, issued by the Reservoir Protocol smart contracts under the governance of governance tokenholders, is a yield-bearing tokenized fund interest that distributes returns from the protocol balance sheet to holders of the savings token [S1][S2].

Holders earn yield derived from Reservoir's multicollateral balance sheet, which allocates capital into real-world asset fund interests, crypto-backed lending markets, and other DeFi protocols [S3][S4]. srUSD is a value-accruing token whose per-share purchasing power increases daily at a rate actively maintained by governance, rather than rebasing [S5]. Reserve fund interests are subscribed via the Reservoir Foundation and managed initially by Fortunafi Capital Management LLC [S2]. srUSD carries a micro burn fee representing one day's worth of interest [S5].

The tokens are not issued by a single corporate entity; the protocol is controlled by governance tokenholders with no single party able to control the code [S2][S6]. The Terms of Service are governed by the laws of the Cayman Islands [S7]. srUSD is an ERC-20 dollar-denominated claim redeemable for stable assets; holders have no secured claim against reserve funds and the tokens carry no deposit insurance [S1][S2]. Offerings exclude United States persons, the EEA public, and sanctioned jurisdictions, and users must be 18 or older [S7][S6]. Redemptions are fulfilled immediately when the Peg Stability Module holds available liquidity, with no lock-up [S5].

srUSD is an ERC-20 token natively issued on Ethereum, with cross-chain availability via an Omnichain Fungible Token adapter to networks including Berachain [S1][S8]. Underlying rUSD is minted 1:1 against USDC, USDT, and USD1 and redeemed at parity through the Peg Stability Module, settled onchain [S1][S4]. Governance-approved Asset Adapters report net asset value to track solvency [S9][S3].

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://docs.reservoir.xyz/products/stablecoin-rusd" },
    { id: "S2", url: "https://docs.reservoir.xyz/security-and-compliance/risk-factors" },
    { id: "S3", url: "https://docs.reservoir.xyz/products/proof-of-reserves" },
    { id: "S4", url: "https://docs.reservoir.xyz/security-and-compliance/faq" },
    { id: "S5", url: "https://docs.reservoir.xyz/products/savings-srusd-and-wsrusd" },
    { id: "S6", url: "https://docs.reservoir.xyz/llms-full.txt" },
    { id: "S7", url: "https://docs.reservoir.xyz/security-and-compliance/terms-of-service" },
    { id: "S8", url: "https://docs.reservoir.xyz/security-and-compliance/smart-contract-addresses" },
    { id: "S9", url: "https://docs.reservoir.xyz/protocol-architecture/asset-adapters" },
  ]}
/>


# 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 funds

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Stablecoin issuers

Reservoir.xyz

Reservoir srUSD (srUSD) is a tokenized fund share issued by Reservoir.xyz and managed by Fortunafi Capital Management LLC.

The fund is open-ended, invests in multi-asset, and locks up subscriptions for 0 months.

Retail investors and institutions can mint and redeem directly with Reservoir.xyz in rUSD, and holders have a right to redeem at net asset value with instant settlement.

srUSD has been issued on Ethereum as an ERC-20 token since August 2024, with a bridged version on one more network.

Reservoir srUSDsrUSD