SOX3L, issued by SHIFT DAO LLC, is a tokenized membership interest providing leveraged economic exposure to a listed exchange-traded fund, targeting a daily 3x long return relative to its underlying semiconductor equity benchmark [S1][S2].

SOX3L provides economic exposure to the Direxion Daily Semiconductor Bull 3X Shares (SOXL), priced from a strict formula equal to the executed market price of one underlying asset for the treasury plus a 0.1% transaction fee [S3]. A service fee calculated as a percentage of treasury assets also applies [S3]. There is no yield by design, and tokenholders receive no dividend pass-through, voting power, or legal title to the underlying [S4][S3][S5].

SHIFT DAO LLC is a Limited Liability Company formed in the Republic of the Marshall Islands under its Limited Liability Company Act (1996) and Decentralized Autonomous Organizations Act of 2022, operating under that statutory framework rather than a securities regulator [S4][S2]. SOX3L is issued by a segregated Series and represents a membership interest granting economic exposure only [S2][S5]. The tokens are not registered securities, are not offered in the United States or United Kingdom, and reach only qualified or professional investors under KYC and AML procedures [S4][S5]. Redemption is an internal membership-interest repurchase settled from the Series treasury; underlying assets are custodied at DekaBank and ALPACADB LTD [S3][S5].

SOX3L is issued as a Solana Program Library (SPL) token held non-custodially in the holder's Solana wallet, with BNB Chain support forthcoming [S1][S6]. Tokens are minted and burned via 24/5 rails backed through Alpaca Markets, governed by each Series operating agreement, with Chainlink proof-of-reserves referenced for valuation feeds [S1][S5].

<Sources
  retrievedAt="2026-06-19"
  items={[
    { id: "S1", url: "https://www.shiftrwa.xyz/" },
    { id: "S2", url: "https://www.shiftrwa.xyz/legal-hub" },
    { id: "S3", url: "https://www.shiftrwa.xyz/faq" },
    { id: "S4", url: "https://www.shiftrwa.xyz/terms" },
    { id: "S5", url: "https://www.shiftrwa.xyz/risk-disclosure" },
    { id: "S6", url: "https://lp.shiftrwa.xyz/" },
  ]}
/>


# Asset senders (monthly) methodology

## 1. Overview

Asset senders (monthly) is defined as the number of unique addresses from which asset transfers are initiated over a rolling 30-day period. For each tracked asset, outgoing transfer transactions are analyzed across supported blockchains to identify the sending addresses. These addresses are deduplicated over a 30-day window to represent the monthly active sender base. This metric is utilized to evaluate user adoption, transactional activity, and the overall utility of tokenized assets.

## 2. Data sources

- **EVM chain events**: Token transfer events, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: Token transfer instructions
- **Aptos, Sui, Cardano, and Stellar Classic data**: Token withdraw transactions
- **Stellar Soroban, Algorand, Near, Injective, and Ripple data**: Token transfer transactions
- **Polkadot Asset Hub events**: `Transferred` events from `assets` pallets
- **Asset metadata**: Token contract addresses and decimal precision

## 3. Step-by-step calculation

### Component A: Extract daily asset senders

- **Purpose**: Identify unique addresses initiating transfers on a daily basis
- **Logic**: On EVM-compatible chains, token transfer events are parsed to extract the sender address from the transaction, excluding the zero address. On Solana, token transfer instructions are parsed to identify the authority address. On Aptos, Sui, Cardano, and Stellar Classic, token withdraw transactions are parsed to extract the account address. On Stellar Soroban, Algorand, Near, and Injective, token transfer transactions are parsed to extract the sender address, excluding null addresses. On Ripple, token transfer transactions with negative values are parsed to identify the sending account address. On Polkadot Asset Hub, `Transferred` events from `assets` pallets are parsed to extract the sender address. For all chains, the extracted addresses are grouped by day and token address to produce a daily record of unique senders.
- **Key fields**: `timestamp` (block day), `token_address` (asset identifier), `sender_address` (initiating address)

### Component B: Aggregate rolling monthly senders

- **Purpose**: Calculate the unique sender count over a rolling 30-day window
- **Logic**: A daily datespine is generated to establish a continuous timeline. For each day in the timeline, a 30-day lookback window is constructed, encompassing the current day and the preceding 29 days. Daily sender addresses collected within this window are aggregated and deduplicated. The total number of unique, deduplicated addresses is then counted for each asset on each day.
- **Key fields**: `timestamp` (calculation day), `token_address` (asset identifier), `asset_senders` (unique monthly sender count)

### Component C: Final aggregation and zero-filling

- **Purpose**: Combine data across chains and fill missing activity days
- **Logic**: The deduplicated monthly sender counts are aggregated at both the individual chain level and the global asset level. For days where no transfer activity is recorded for a tracked asset, the metric is filled with zero values to maintain a continuous time series.
- **Key fields**: `timestamp` (reporting day), `chain_id` (blockchain identifier), `token_address` (asset identifier), `asset_senders` (final monthly unique sender count)

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

Unique asset senders over a rolling 30-day window.

Asset senders (monthly)

Tokenized stocks

Each SHIFT Series token is minted on deposit and burned on redemption through 24/5 mint-and-burn rails, backed 1:1 by the underlying ETF units custodied at Alpaca Markets.

Shift tokenizes US-listed leveraged and inverse ETFs — Direxion Daily Semiconductor, Tesla, and S&P 500 bull/bear funds — as Solana SPL tokens, giving on-chain users price exposure to these regulated fund products. BNB Chain support is coming soon.

Shift (SHIFT DAO LLC) is a Marshall Islands-based platform that issues tokenized versions of leveraged and inverse Direxion ETFs on-chain.

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Real-world asset (RWA) issuers

Shift

Shift Semiconductor 3x Long (SOX3L) is a tokenized share issued by Shift through SHIFT DAO LLC and distributed through SHIFT.

Each token represents one underlying share, carries no dividend entitlement, and carries no voting rights.

The underlying shares are held by Alpaca Markets in segregated accounts within a bankruptcy-remote structure.

Qualified investors and professional investors worldwide can mint and redeem directly with Shift in USDC, with a USDC 1 minimum.

Residents of the United States, the United Kingdom, Burundi and other jurisdictions the issuer restricts cannot mint or redeem with Shift.

SHIFT DAO LLC is incorporated in the Marshall Islands and is offered under an SEC Regulation S exemption.

Holder terms are governed by the law of the Marshall Islands.

SOX3L has been issued on Solana as a SPL Token-2022 token since May 2026.

Shift Semiconductor 3x LongSOX3L