PALL, issued by Robinhood Europe, UAB, is a tokenized-commodities derivative contract that gives onchain price exposure to abrdn Physical Palladium Shares ETF, a U.S.-listed commodity-linked exchange-traded product, without conveying ownership of the underlying units [S1][S2][S3].

The token tracks the live price of abrdn Physical Palladium Shares ETF (PALL), with each token corresponding to one underlying unit [S1][S3]. Tokens are displayed in U.S. dollars and bought or sold in euros, and the holder bears a 0.10% foreign exchange fee on each order with no added spreads and no commissions from Robinhood [S4][S3][S5]. If the underlying issues a distribution and eligibility requirements are met, an equivalent cash amount is passed through in euros, free of the foreign exchange fee [S6][S2].

Robinhood Europe, UAB, company code 306377915, is a Lithuanian entity authorized and regulated by the Bank of Lithuania, offering these products under MiFID II as over-the-counter derivative contracts [S2][S1]. Each tokenholder's claim is contractual against Robinhood Europe rather than a right to the hedged units, which are held by a U.S.-licensed institution [S1][S2]. The product is available to eligible retail customers across thirty EU and EEA countries who pass KYC, AML and an appropriateness assessment [S5][S4]. There is no in-kind redemption; holders exit by selling in-app, with a T+1 withdrawal hold, and bear Robinhood's insolvency risk [S4][S1].

Tokens are issued natively on Arbitrum, an Ethereum Layer 2, and are recorded onchain when the derivative contract is entered [S5][S1]. They cannot be transferred to external wallets [S2]. Trading runs in-app from Monday to Saturday around the clock, with orders queued outside those hours, pricing tracks the U.S.-listed instrument, and sell proceeds settle for withdrawal at T+1 [S4][S3][S5].

<Sources
  retrievedAt="2026-06-18"
  items={[
    { id: "S1", url: "https://robinhood.com/eu/en/support/articles/about-stock-tokens/" },
    { id: "S2", url: "https://robinhood.com/eu/en/support/articles/stock-tokens-faq/" },
    { id: "S3", url: "https://robinhood.com/eu/en/invest/" },
    { id: "S4", url: "https://robinhood.com/eu/en/support/articles/buy-and-sell-stock-tokens/" },
    { id: "S5", url: "https://robinhood.com/us/en/newsroom/robinhood-launches-stock-tokens-reveals-layer-2-blockchain-and-expands-crypto-suite-in-eu-and-us-with-perpetual-futures-and-staking/" },
    { id: "S6", url: "https://robinhood.com/eu/en/support/articles/corporate-actions-for-stock-tokens/" },
  ]}
/>


# Asset mints methodology

## 1. Overview

Asset mints is a metric that represents the total value of new assets minted onchain. Daily mint volumes are tracked across supported blockchains to quantify the issuance of tokenized assets. Gross mint events are identified from native token transfer logs and transaction-level supply changes. To ensure accuracy for assets with pre-minted supplies, corrections are applied by subtracting non-circulating allocations. The final metric is normalized by decimal precision and converted to USD using end-of-day price feeds.

## 2. Data sources

- **EVM chain events**: ERC-20 `Transfer` events, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: SPL token `Mint` instructions
- **Non-EVM chain events and transactions**:
 - Algorand: Asset Configuration (`acfg`) transactions and token transfers
 - Cardano: UTXO-derived mint and burn events
 - Near: Token mint events
 - Polkadot Asset Hub: `Issued` events from `assets` pallets
 - Ripple: Transaction-level issuer net flows
 - Stacks: Token transfers with null senders
 - Sui: `TreasuryCap` object total supply changes
 - Stellar: SEP-41 `sep41_mint` events

- **Asset metadata**: Token addresses and decimal precision retrieved from token metadata
- **External data**: End-of-day price feeds sourced from market data providers

## 3. Step-by-step calculation

### Component A: Gross mint extraction

- **Purpose**: Extract raw mint events across all supported blockchains
- **Logic**: On EVM-compatible chains, ERC-20 `Transfer` events are parsed where the sender address is the zero address. On Solana, SPL token `Mint` instructions are extracted. On Algorand, withdrawals from asset configuration addresses are identified as gross mints. On Cardano, positive supply deltas are derived from transaction UTXO inputs and outputs. On Near, token mint events are extracted. On Polkadot Asset Hub, `Issued` events from `assets` pallets are parsed. On Ripple, transaction-level net flows are calculated, and positive net flows from issuer accounts are classified as mints. On Stacks, token transfers with a null sender address are extracted. On Sui, total supply changes are decoded from `TreasuryCap` objects. On Stellar, SEP-41 `sep41_mint` events are parsed.
- **Key fields**: `amount` (raw token quantity), `token_address` (asset contract or token identifier), `timestamp` (block timestamp)

### Component B: Premint correction

- **Purpose**: Adjust gross mints to exclude pre-minted tokens that do not enter active circulation
- **Logic**: For supported assets, a correction is applied to distinguish between gross mints and circulating supply changes. Mints that are sent directly to designated non-circulating premint addresses are classified as premints. Conversely, transfers from these premint addresses to circulating addresses are classified as premint issuances. Corrected mints are calculated by subtracting premints from gross mints and adding premint issuances.
- **Key fields**: `amount` (corrected token quantity), `token_address` (asset contract), `account_address` (premint address)

### Component C: Decimal normalization

- **Purpose**: Normalize raw token quantities into standard units
- **Logic**: Raw token amounts are normalized by decimal precision. Decimal precision is retrieved from token metadata for each specific asset.
- **Key fields**: `amount` (normalized token quantity), `decimals` (decimal precision)

### Component D: Final aggregation and USD conversion

- **Purpose**: Aggregate daily normalized mints and convert the values to USD
- **Logic**: Normalized daily mint amounts are aggregated by asset and blockchain. Daily USD values are calculated by multiplying the daily normalized mint amount by the end-of-day price feed for the respective asset. If no mint events occur on a given day, the daily value is filled with zero values.
- **Key fields**: `amount_usd` (daily minted value in USD), `price_usd` (end-of-day asset price)

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

Asset mints

Tokenized commodities

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Real-world asset (RWA) issuers

Robinhood

abrdn Physical Palladium Shares ETF (Robinhood Classic Stock Token) (PALL) is a token tracking palladium, issued by Robinhood through Robinhood Europe, UAB.

Each token tracks one troy ounce of palladium and is a synthetic instrument that provides contractual exposure to the reference asset.

Retail investors and professional investors can mint and redeem directly with Robinhood after completing KYC, and holders have a contractual right to redeem, with same- or next-business-day settlement.

Robinhood Europe, UAB is incorporated in Lithuania, is a MiFID II financial instrument, and is supervised by the Bank of Lithuania.

Holder terms are governed by the law of Lithuania.

PALL has been issued on Arbitrum One as an ERC-20 token since December 2025.

abrdn Physical Palladium Shares ETF (Robinhood Classic Stock Token)PALL