HLSCOPE, issued by Securitize Capital, LLC and tokenized by Securitize, is a tokenized feeder fund interest that provides onchain exposure to the Hamilton Lane Senior Credit Opportunities Fund (SCOPE), an evergreen private credit strategy [S1].

Each token represents a share in a feeder fund that invests in SCOPE, an all-weather senior private credit vehicle holding primarily senior secured loans and intended for investors seeking current income, safety, and yield [S1]. Returns accrue through the fund's Net Asset Value (NAV), and redemptions occur at NAV per share [S1]. Securitize charges no transaction fees on redemptions, though other fees apply [S1].

The tokenized feeder vehicle is managed by Securitize Capital, LLC, a U.S. exempt reporting adviser, with the offering conducted through Securitize Markets, a broker-dealer and alternative trading system that is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC) [S1]. Tokens represent shares in the feeder fund rather than a direct claim on portfolio assets [S1]. Access is limited to U.S.-based qualified purchasers holding at least 5 million U.S. dollars (USD) in invested assets [S1][S2]. Investors generally hold the option to redeem shares on demand at the previous quarter's NAV per share, with monthly subscription and on-demand redemption [S1].

Feeder fund shares are tokenized on the Polygon blockchain, described as fully compatible with the Ethereum ecosystem [S1]. Subscriptions and redemptions run through Securitize's fully digital process, where smart contracts accelerate share redemption from weeks to seconds, settling at NAV per share [S1].

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# Asset redemptions methodology

## 1. Overview

The total value of tokenized assets that are burned or returned to issuer-controlled addresses in exchange for offchain collateral assets is measured by the asset redemptions metric. User demand to exit asset positions and reclaim backing collateral is reflected by this metric. Daily redemption volumes are aggregated across all supported blockchains and converted to USD using end-of-day price feeds. A comprehensive view of capital outflows from tokenized assets is provided by this metric.

## 2. Data sources

- **EVM chain events**: ERC-20 token transfers, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: SPL token burn instructions and balance changes
- **Non-EVM chain events**: Native token burn events, transaction net flows, and asset pallet events covering Algorand, Cardano, Injective, Near, Polkadot Asset Hub, Ripple, Stacks, Stellar, and Sui
- **Asset metadata**: Token addresses and decimal precision
- **External data**: End-of-day price feeds

## 3. Step-by-step calculation

### Component A: Extract raw redemption and burn events

- **Purpose**: Token destruction or return to issuer custody across all supported blockchains is identified.
- **Logic**: On EVM-compatible chains, ERC-20 `Transfer` events are parsed where the recipient is the zero address or the dead address. On Solana, SPL token `Burn` instructions are parsed. On Algorand, token transfers to non-circulating configuration addresses (such as creator or reserve addresses) are extracted. On Cardano, negative token deltas are derived from transaction outputs and inputs. On Injective, token transfers with a burn event type are selected. On Near, token burn events are extracted. On Polkadot Asset Hub, `Burned` events from the assets pallet are parsed. On Ripple, transaction net flows that result in issuer inflows are identified. On Stacks, token transfers where the recipient address is null are parsed. On Stellar, SEP-41 `sep41_burn` events are extracted. On Sui, negative deltas are derived from total supply changes of treasury control objects.
- **Key fields**: `timestamp` (event time), `token_address` (asset contract address), `amount` (raw quantity)

### Component B: Apply premint corrections

- **Purpose**: Raw burn volumes are adjusted to exclude non-circulating token movements and include circulation exits.
- **Logic**: For supported assets, raw burn volumes are adjusted by subtracting preburns and adding premint redemptions. Preburns, which represent tokens burned directly from issuer-controlled premint addresses without ever entering circulation, are subtracted from the total. Premint redemptions, which represent transfers from circulating addresses back into premint addresses, are added to the total as they represent assets exiting active circulation.
- **Key fields**: `timestamp` (event time), `token_address` (asset contract address), `amount` (corrected quantity)

### Component C: Normalization and USD conversion

- **Purpose**: Token quantities are normalized by decimal precision and converted to USD.
- **Logic**: Daily token-denominated redemption amounts are aggregated by timestamp, chain, and token address. These amounts are normalized by decimal precision retrieved from token metadata. The normalized redemption amounts are then multiplied by end-of-day price feeds sourced from market data providers to calculate the final USD-denominated redemption value. If no redemptions occur on a given day, the daily value is filled with zero values.
- **Key fields**: `timestamp` (day), `chain_id` (blockchain identifier), `token_address` (asset contract address), `amount` (normalized token quantity), `price_usd` (asset price), `value` (USD-denominated redemption value)

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

Value of assets redeemed or burned for underlying collateral.

Asset redemptions

Tokenized funds

Securitize operates through its proprietary compliance protocol and smart contract infrastructure that automates regulatory requirements for digital securities. The platform generates revenue through issuance fees, ongoing compliance services, and transaction fees from secondary market trading, while leveraging blockchain technology to provide programmable compliance and automated investor verification.

The platform provides end-to-end infrastructure for digitizing traditional securities and real-world assets through blockchain tokenization. Securitize offers compliant token issuance services, investor management tools, and secondary market solutions that bridge traditional finance with decentralized technologies while maintaining regulatory compliance.

Securitize is a digital securities platform that enables the compliant issuance, management, and trading of tokenized securities on blockchain networks.

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Real-world asset (RWA) issuers

Securitize

Hamilton Lane Senior Credit Opportunities Securitize Fund (HLSCOPE) is a tokenized fund share issued by Securitize through Hamilton Lane SCOPE Securitize Tokenized Feeder, LP and managed by Securitize Capital, LLC.

Each token is a direct claim on the issuer.

The fund is open-ended, invests in U.S. private credit, and charges a 0.5% annual management fee.

Qualified purchasers can subscribe and redeem in USD, with a USD 10,000 minimum and instant subscription settlement after completing KYC, and holders have a right to redeem at net asset value.

Hamilton Lane SCOPE Securitize Tokenized Feeder, LP is incorporated in the United States and is offered under an SEC Regulation D exemption.

HLSCOPE has been issued on public blockchains since May 2023 and is native to Polygon, Ethereum, OP Mainnet, and Tron.

Hamilton Lane Senior Credit Opportunities Securitize FundHLSCOPE