TSL1S, issued by SHIFT DAO LLC, is a tokenized membership interest providing daily inverse economic exposure to a listed exchange-traded fund, tracking the live market price of its underlying instrument through a segregated series structure [S1][S2].

TSL1S tracks the Direxion Daily TSLA Bear 1X Shares (TSLS), an exchange-traded fund seeking daily inverse exposure to Tesla, Inc. common stock [S2]. The token grants economic exposure to the value of the Series Assets only, with no dividend pass-through, no voting power, and no legal title [S3][S4]. The per-token price equals the executed market price of one underlying unit plus a 0.1% transaction fee [S5]. SHIFT additionally charges a service fee calculated as a percentage of treasury assets [S5].

The issuer is SHIFT DAO LLC, 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 [S3][S2]. TSL1S issues through its own segregated Series 13 [S2]. Tokens are membership interests explicitly not registered as securities [S3][S4]. They are not offered in the United States or United Kingdom, reaching only qualified investors and professional clients under KYC and AML procedures [S1][S3]. Redemption occurs as an internal membership-interest repurchase settled from the Series treasury, with backing assets custodied at DekaBank and ALPACADB LTD [S5][S4].

Tokens are issued as SPL tokens on Solana and held non-custodially in the holder's wallet, with BNB Chain support forthcoming [S1][S6]. Minting and redemption run via smart contracts on 24/5 mint-and-burn rails backed through Alpaca Markets, with per-token pricing set by formula and valuation drawn from third-party oracle data feeds, including planned Chainlink proof-of-reserves [S1][S5][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 (weekly) methodology

## 1. Overview

`Asset senders (weekly)` is defined as the number of unique addresses that initiate asset transfers over a rolling 7-day period. For each tracked asset, outgoing transactions are analyzed to identify the addresses responsible for moving tokens. This metric is utilized as a key indicator of weekly user activity and transactional engagement for tokenized assets across various blockchain networks. By aggregating unique sending addresses within a moving 7-day window, short-term fluctuations are smoothed out to provide a clearer view of active adoption.

## 2. Data sources

- **EVM chain events**: ERC-20 token transfers, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: Token transfer instructions
- **Other blockchain data**: Token transfer and withdrawal events from Aptos, Near, Polkadot Asset Hub, Stellar, Sui, Ripple, and others
- **Asset metadata**: Token contract addresses and asset mapping datasets

## 3. Step-by-step calculation

### Component A: Extraction of daily sending addresses

- **Purpose**: Identify and extract unique addresses initiating token transfers on a daily basis for each asset.
- **Logic**: On EVM-compatible chains, sending addresses are extracted from ERC-20 token transfers where the sender address is not the null address. On Solana, sending addresses are identified from token transfer instructions using the authority address. On Aptos, Sui, Cardano, and Stellar Classic, sending addresses are retrieved from token withdrawal events. On Stellar Soroban, transfers are parsed from Soroban token transfer events, excluding mint transactions where the sender address is null. On Polkadot Asset Hub, `Transferred` events from the `assets` pallet are parsed to identify the sender. On Ripple, outgoing transfers are identified where the transaction value is negative. On Near and Injective, sending addresses are extracted from token transfer events where the sender address is populated.
- **Key fields**: `timestamp` (block time truncated to the day), `token_address` (the contract or asset identifier), `sender_address` (the address initiating the transfer)

### Component B: Rolling 7-day window aggregation

- **Purpose**: Aggregate daily active senders into a rolling 7-day window to calculate weekly activity.
- **Logic**: A daily datespine is generated to establish a continuous timeline. For each day in the timeline, a rolling 7-day window is constructed by looking back at the preceding six days. Daily unique sending addresses are mapped to each active window based on their transaction timestamps.
- **Key fields**: `timestamp` (the reference day for the rolling window), `token_address` (the asset identifier), `sender_address` (the address active within the window)

### Component C: Final deduplication and aggregation

- **Purpose**: Calculate the final weekly unique sender count per asset and chain.
- **Logic**: Within each rolling 7-day window, sending addresses are deduplicated to ensure each unique address is counted only once per asset, regardless of transaction frequency. The deduplicated counts are aggregated at both the individual chain level and the global asset level. Missing dates are filled with zero values to maintain a continuous time series.
- **Key fields**: `timestamp` (the reference day), `chain_id` (the blockchain identifier), `token_address` (the asset contract address), `asset_senders_weekly` (the count of unique weekly sending addresses)

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

Unique asset senders over a rolling 7-day window.

Asset senders (weekly)

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 Tesla 1x Short (TSL1S) is a token tracking the underlying shares, backed by dedicated collateral and issued by Shift through SHIFT DAO LLC and distributed through SHIFT with ALPACADB LTD as broker.

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

The collateral assets are held by DekaBank and ALPACADB LTD in segregated accounts within a bankruptcy-remote structure.

Qualified investors and professional investors worldwide can mint and redeem directly with Shift in USDC.

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.

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

TSL1S has been issued on Solana as a SPL Token-2022 token since May 2026.

Shift Tesla 1x ShortTSL1S