UAA, issued by Robinhood Europe, UAB, is a tokenized stock that gives one-to-one price exposure to the U.S.-listed shares of Under Armour, Inc. Class A through a blockchain-recorded derivative contract [S1][S2].

The token tracks the live market price of Under Armour, Inc. Class A (UAA), and if the underlying issues a dividend or distribution and eligibility requirements are met, the cash-equivalent amount is passed through automatically in euros and shown as a cash distribution [S3][S4]. Stock splits adjust token quantity proportionally [S3]. The holder bears a 0.1% foreign exchange fee on each order, with no commissions and no other fees charged by Robinhood, and that FX fee does not apply to dividend payments [S5][S6][S3].

The issuer is Robinhood Europe, UAB, a Lithuanian firm authorized and regulated by the Bank of Lithuania, and each token is an over-the-counter MiFID II derivative contract between the tokenholder and Robinhood Europe rather than ownership of the underlying security, so no shareholder or voting rights attach [S1][S5]. Robinhood Europe holds matching shares at a U.S.-licensed institution as a hedge, leaving the tokenholder with a contractual claim exposed to the issuer's insolvency risk [S5]. Access requires tax identification, KYC and AML checks, and a passed appropriateness assessment, and holders exit only by selling in-app, with proceeds withdrawable at T+1 [S6].

Tokens are recorded onchain and issued natively on Arbitrum, an Ethereum Layer 2 [S2]. One token is minted per underlying share when the contract is entered, trading runs Monday to Saturday in-app, and pricing is shown in U.S. dollar with automatic euro settlement [S1][S6].

<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/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: "S3", url: "https://robinhood.com/eu/en/support/articles/corporate-actions-for-stock-tokens/" },
    { id: "S4", url: "https://robinhood.com/eu/en/invest/" },
    { id: "S5", url: "https://robinhood.com/eu/en/support/articles/stock-tokens-faq/" },
    { id: "S6", url: "https://robinhood.com/eu/en/support/articles/buy-and-sell-stock-tokens/" },
  ]}
/>


# Asset transfer volume methodology

## 1. Overview

Asset transfer volume is defined as the total value of assets transferred onchain. Since transaction fees are paid by users for each transfer, a correlation is typically observed between this metric and the customer demand that exists to use an asset for transacting purposes. Daily transfer volumes are aggregated across all supported blockchains, normalized by decimal precision, and converted into USD. To ensure an accurate representation of economic activity, transactions involving non-circulating treasury or premint addresses are subtracted where applicable.

## 2. Data sources

- **EVM chain events**: ERC-20 token transfers, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, Tron, Starknet, zkSync Era, and others)
- **Solana instructions**: SPL token transfers, mints, and burns
- **Aptos events**: Token withdraw events
- **Near events**: Token transfer events
- **Polkadot Asset Hub events**: `Transferred` events from the `assets` pallet
- **Cardano UTXO transactions**: Token deposits, withdrawals, and mint/burn events
- **Stellar operations**: Classic token withdrawals and Soroban SEP-41 token transfers
- **Sui transactions**: Token withdrawals and `TreasuryCap` supply changes
- **Algorand transactions**: Asset transfer transactions
- **Injective events**: Token transfer, mint, and burn events
- **Stacks transactions**: Token transfer events
- **Asset metadata**: Token contract addresses and decimal precision
- **External data**: End-of-day price feeds and fiat exchange rates

## 3. Step-by-step calculation

### Component A: Raw transfer volume extraction

- **Purpose**: Extract raw token transfer quantities from onchain events and transactions
- **Logic**: On EVM-compatible chains, token transfer quantities are extracted from ERC-20 `Transfer` events. On Solana, quantities are extracted from SPL token transfers, mints, and burns. On Aptos, Near, Algorand, Injective, and Stacks, transfer volumes are parsed from native token transfer and withdrawal events. On Polkadot Asset Hub, volumes are extracted from `Transferred` events emitted by the `assets` pallet. On Cardano, UTXO withdrawals and mint events are aggregated to capture all token movements. On Stellar, classic token withdrawals and Soroban SEP-41 transfer, mint, and burn events are parsed. On Sui, token withdrawals are combined with mint events derived from `TreasuryCap` supply changes.
- **Key fields**: `timestamp` (the day of the transfer) `token_address` (the contract or asset identifier) `amount` (the raw transfer quantity)

### Component B: Premint and preburn correction

- **Purpose**: Exclude non-circulating token movements to isolate genuine economic transfer volume
- **Logic**: For supported chains, raw transfer volumes are corrected by subtracting premints and preburns. Premints are defined as tokens minted directly into designated project treasury or premint addresses, while preburns are represented by tokens burned directly from these non-circulating addresses. On EVM-compatible chains, Solana, Injective, Stacks, and Stellar Soroban, these flows are identified by filtering transfers where the sender or recipient matches a known treasury address. On Algorand, transfers between asset configuration addresses and treasury addresses are subtracted. On Cardano, deposits to and withdrawals from treasury addresses during mint or burn transactions are netted out.
- **Key fields**: `amount` (the corrected transfer quantity) `token_address` (the contract or asset identifier) `timestamp` (the day of the transfer)

### Component C: Decimal normalization and zero-filling

- **Purpose**: Normalize token quantities to human-readable units and ensure continuous daily time series
- **Logic**: Raw token quantities are normalized by the decimal precision retrieved from the asset metadata. For days with no recorded transfer activity, the time series is filled with zero values to maintain a continuous daily record for each asset.
- **Key fields**: `amount` (the normalized transfer quantity) `decimals` (the decimal precision of the token)

### Component D: USD conversion and final aggregation

- **Purpose**: Convert normalized transfer volumes to USD and aggregate across all chains
- **Logic**: Normalized daily transfer volumes are multiplied by the end-of-day price feeds sourced from market data providers. For assets pegged to fiat currencies other than USD, daily exchange rates are applied using Chainlink FX price feeds to determine the USD-equivalent value. The final daily asset transfer volume is calculated by summing the USD-denominated transfer volumes across all active chains for each asset.
- **Key fields**: `price_usd` (the end-of-day market price of the asset in USD) `amount_usd` (the final transfer volume in USD)

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

Asset transfer volume

Tokenized stocks

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Real-world asset (RWA) issuers

Robinhood

Under Armour, Inc. Class A (Robinhood Classic Stock Token) (UAA) is a tokenized exposure to UAA issued by Robinhood through Robinhood Europe, UAB and distributed through Robinhood Europe, UAB with Alpaca Securities LLC as broker.

The underlying security is listed in the consumer discretionary sector in North America.

Each token tracks one underlying share, entitles holders to dividends, which are distributed in cash, carries no voting rights, and carries an annual fee of 0%.

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

Retail investors and professional investors in the European Economic Area can mint and redeem directly with Robinhood in EUR after completing KYC, with a EUR 1 minimum and instant subscription settlement, and holders have a right to redeem at net asset value with same- or next-business-day settlement.

Residents of jurisdictions under applicable sanctions cannot mint or redeem with Robinhood.

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.

UAA has been issued on Arbitrum One as an ERC-20 token since September 2025.

Under Armour, Inc. Class A (Robinhood Classic Stock Token)UAA