SPX3L, 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 on the underlying U.S. equity index product [S1][S2].

SPX3L tracks the live market price of the Direxion Daily S&P 500 Bull 3X Shares (SPXL), a leveraged ETF seeking daily 3x exposure to the S&P 500 [S2]. Holder return derives solely from price exposure to the Series Asset value, with no dividend pass-through, no voting power, and no legal title to the underlying [S3][S4]. The per-token price equals the executed market price of one underlying asset plus a 0.1% transaction fee, and a treasury-based service fee also applies [S5].

The issuer is SHIFT DAO LLC, a Marshall Islands Limited Liability Company formed under the Marshall Islands LLC Act (1996) and the Decentralized Autonomous Organizations Act of 2022, operating under that framework rather than a securities regulator [S3][S2]. Tokens are membership interests in a segregated Series granting economic exposure only [S2][S4]. The issuer disclaims that the tokens are offered as a registered securities investment opportunity [S3]. They are not offered in the United States or United Kingdom and are restricted to qualified or professional investors under KYC and AML [S1][S3][S4]. Redemption is an internal membership-interest repurchase settled from the Series treasury, with assets custodied at DekaBank and ALPACADB LTD [S5][S4].

Tokens are issued as SPL tokens on Solana, with BNB Chain support forthcoming, and held non-custodially in the holder's wallet [S1][S6]. Minting and burning run on 24/5 mint-and-burn rails backed via Alpaca Markets and ALPACADB LTD [S1][S4]. Chainlink proof-of-reserves and oracle valuation feeds are referenced for mainnet launch [S1][S4].

<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/terms" },
    { id: "S4", url: "https://www.shiftrwa.xyz/risk-disclosure" },
    { id: "S5", url: "https://www.shiftrwa.xyz/faq" },
    { 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 S&P500 3x Long (SPX3L) is a tokenized share issued by Shift through SHIFT DAO LLC and distributed through SHIFT DAO LLC.

Each token carries no dividend entitlement and carries no voting rights.

The underlying shares are held by Alpaca Markets, DekaBank, and ALPACADB LTD in segregated accounts within a bankruptcy-remote structure.

Professional investors and qualified investors worldwide can mint and redeem directly with Shift in USDC, and holders have a right to redeem at net asset value with instant settlement.

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.

SPX3L has been issued on Solana as a SPL Token-2022 token since May 2026.

Shift S&P500 3x LongSPX3L