USR, issued by Resolv Digital Assets Ltd., is an overcollateralized U.S. dollar-denominated stablecoin that tracks the U.S. dollar (USD) at a 1-to-1 ratio and is backed by a delta-neutral digital-currency collateral pool. [S1][S2]

USR represents a contractual redemption claim valued at 1 USD and is itself a non-yielding utility token. [S3][S2] Yield arises from an ETH and BTC delta-neutral basis-trade strategy that pairs spot collateral with short perpetual-futures positions, capturing funding-rate yield; holders earn it only by staking into stUSR, which rebases. [S3][S4][S5] A protocol fee of 10.0% on positive daily yield applies from week four onward, with no fees on minting or redemption. [S6]

USR is issued and redeemed by Resolv Digital Assets Ltd. (RDAL), incorporated in the British Virgin Islands, with Terms governed by BVI law and exclusive jurisdiction in BVI courts. [S1] Holdings are not segregated assets held in the holder's name and are reflected only in RDAL's books and records, with USR functioning as a senior tranche ahead of RLP, which absorbs losses first. [S1][S7] Direct mint and redemption require verified KYC customer status; only Eligible U.S. Persons meeting SEC Rule 501(a) accredited-investor criteria, and not residents of Cuba, North Korea, Iran, Syria, sanctioned persons, or Canadian persons, may participate. [S1]

USR operates across multiple chains via LayerZero bridging, with live deployments on Ethereum, Base, BNB Chain, and HyperEVM. [S7][S8] Tokens are minted and redeemed for collateral on a 1-to-1 basis, with collateral requirements fluctuating with current pricing. [S3][S4] Verified redemptions generally settle within 24 hours, with instant redemption available in select cases. [S2][S1]

<Sources
  retrievedAt="2026-06-21"
  items={[
    { id: "S1", url: "https://docs.resolv.xyz/litepaper/legal/terms-of-service" },
    { id: "S2", url: "https://docs.resolv.xyz/litepaper/overview/usr" },
    { id: "S3", url: "https://docs.resolv.xyz/litepaper" },
    { id: "S4", url: "https://docs.resolv.xyz/litepaper/protocol-mechanics/collateral-pool" },
    { id: "S5", url: "https://docs.resolv.xyz/litepaper/protocol-mechanics/profit-distribution" },
    { id: "S6", url: "https://docs.resolv.xyz/litepaper/protocol-mechanics/fees" },
    { id: "S7", url: "https://docs.resolv.xyz/litepaper/overview/rlp" },
    { id: "S8", url: "https://resolv.xyz/journey" },
  ]}
/>


# Asset TVL methodology

## 1. Overview

Asset TVL is calculated as the total value of a specific asset deposited into onchain applications, broken out by the protocol and product (venue) where it is deposited. This metric is utilized as a leading indicator of an asset's utility as productive collateral or liquidity across decentralized finance (DeFi). Currently integrated venues are comprised of lending markets such as Aave, Spark, Morpho, Venus, Kamino, and Flux, as well as DEX liquidity and vault products on Uniswap, Aerodrome, Orca, Raydium, xSwap, Mamo, Meteora, Instadapp, PancakeSwap, and Pendle. Coverage is expanded continuously as additional protocols and venues are integrated into the data pipeline.

## 2. Data sources

- **EVM chain events**: Protocol-specific TVL delta records, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: Protocol-specific TVL delta records, covering Solana
- **Asset metadata**: Token addresses, symbols, and decimal precision
- **External data**: End-of-day price feeds

## 3. Step-by-step calculation

### Component A: Extract daily TVL deltas

- **Purpose**: Retrieve the daily change in deposited asset quantities across integrated protocols and products.
- **Logic**: On EVM-compatible chains, daily net changes in asset balances are extracted from protocol-specific TVL pipelines. On Solana, daily net changes are similarly extracted from protocol-specific instruction pipelines. These changes are derived from the net result of deposits, withdrawals, mints, burns, and other balance-altering actions within each venue. The extracted records are grouped by timestamp, protocol, chain, product, token symbol, and token address.
- **Key fields**: `timestamp` (date of the record) `amount` (daily net change in asset quantity) `token_address` (onchain address of the asset) `product` (specific product or pool within the protocol) `protocol` (identifier of the protocol)

### Component B: Calculate cumulative TVL and fill missing days

- **Purpose**: Compute the running balance of each asset and ensure continuous daily coverage.
- **Logic**: The daily net changes are aggregated chronologically using a cumulative sum partitioned by protocol, chain, product, and asset to determine the total balance of the asset held in each venue over time. For days where no balance-altering events are recorded, the last known cumulative balance is carried forward to ensure a continuous daily time series.
- **Key fields**: `timestamp` (date of the record) `tvl` (cumulative asset balance)

### Component C: Map assets and convert to USD

- **Purpose**: Map token addresses to unique asset identifiers and convert the cumulative balances to USD.
- **Logic**: Token addresses are mapped to unique asset identifiers using a deduplicated asset registry to prevent data duplication. The cumulative asset quantities are normalized by decimal precision retrieved from asset metadata. The normalized balances are then multiplied by end-of-day price feeds to calculate the final USD value.
- **Key fields**: `timestamp` (date of the record) `tvl` (final cumulative asset balance in USD) `price_usd` (end-of-day price of the asset)

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

DeFi total value locked (TVL)

Value of the asset deposited into onchain venues (lending markets, DEX pools, vaults), broken out per venue.

DeFi TVL

Stablecoins

Users deposit collateral to mint USR, a yield-bearing stablecoin pegged to USD. The protocol generates yield by deploying backing across ETH staking, futures markets, lending protocols, and tokenized real-world assets. RLP holders provide a leveraged risk buffer, absorbing volatility and earning higher yields in return. stUSR allows USR holders to accrue protocol yield automatically.

Resolv is a stablecoin issuer and yield protocol built on Ethereum and multiple EVM chains. It issues USR, a crypto-native yield-bearing stablecoin backed by a delta-neutral strategy, along with RLP (the liquidity provider token) and stUSR (the staked, yield-accruing variant of USR).

Resolv is operated by Resolv Labs. The protocol is governed by its community, with RLP holders acting as the risk-absorbing liquidity layer that protects USR holders.

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Stablecoin issuers

Resolv

Resolv USR (USR) is a U.S. dollar stablecoin issued by Resolv through Resolv Digital Assets Ltd.

Each token tracks one U.S. dollar and is a collateral-backed contractual exposure rather than a direct claim on the issuer.

Retail investors, professional investors, accredited investors, qualified investors, qualified purchasers, and institutions can mint and redeem directly with Resolv in USDC and USDT after completing KYC.

Resolv Digital Assets Ltd. is incorporated in the British Virgin Islands.

Holder terms are governed by the law of the British Virgin Islands.

USR has been issued on Ethereum as an ERC-20 token since June 2024, with bridged versions on six more.

Resolv USRUSR