USX, issued by Solstice Foundation, is an overcollateralized synthetic stablecoin soft-pegged to the U.S. dollar (USD) that serves as a Solana-native settlement layer backed by a diversified portfolio of hedged assets, cash-equivalents and tokenized treasuries [S1][S2][S3].

Each USX token references the U.S. dollar (USD) and is maintained at greater than 100% collateralization at all times, backed by hedged positions across BTC, ETH, SOL and corresponding perpetual futures, major stablecoins, and tokenized U.S. Treasuries [S1][S2]. USX is a settlement layer and does not pass yield to plain holders; yield accrues only by locking USX in the YieldVault to receive eUSX [S1][S4]. Minting and redemption involve no spread, and Solstice does not profit from issuance or redemption [S1].

Solstice Foundation, based in the Cayman Islands, is the contracting and issuing entity [S5][S8], with USX Ltd named as the entity holding the assets and financial claims backing USX [S2][S3]. Tokenholders have no direct ownership, claim, or beneficial interest in any collateral asset [S3]. Direct mint and redeem is limited to KYC'd institutional partners, while secondary acquisition on Solana DEXs is permissionless [S1][S3]. Users must be 18 or older and not sanctioned, with restrictions covering the United States, United Kingdom, mainland China, Hong Kong, Singapore and other prohibited jurisdictions [S5]. Collateral is custodied off-exchange with Copper and Ceffu, with solvency verified in real time by Accountable [S1][S6][S7].

USX is an SPL token (Solana Program Library) issued on Solana mainnet, described as Solana-native with zero bridge dependencies [S1][S3][S6]. Institutional partners deposit USDG, USDC or USDT to mint USX and redeem USX for USDG; other holders swap via Solana DEXs [S1]. Settlement occurs on Solana, and reserves are published continuously via a real-time Accountable dashboard [S2].

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://docs.solstice.finance/solstice-for-users/usx.md" },
    { id: "S2", url: "https://docs.solstice.finance/legal-documents/attestations-and-proof-of-solvency.md" },
    { id: "S3", url: "https://docs.solstice.finance/llms-full.txt" },
    { id: "S4", url: "https://docs.solstice.finance/solstice-for-users/eusx-powered-by-yieldvault.md" },
    { id: "S5", url: "https://solstice.finance/terms" },
    { id: "S6", url: "https://solstice.finance/security" },
    { id: "S7", url: "https://docs.solstice.finance/legal-documents/audits.md" },
    { id: "S8", url: "https://docs.solstice.finance/legal-documents/privacy-policy" },
  ]}
/>


# Asset transfer count methodology

## 1. Overview

Asset transfer count is defined as the number of user transactions that move assets between addresses. It is utilized to reflect how frequently assets are used for payments, trading, or other onchain activity. The metric is calculated daily for each tracked asset across all supported blockchains. By aggregating these transfer events, a comprehensive view of onchain utility and transactional velocity is provided.

## 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 transfers
- **Other blockchain events**: Token transfers, withdrawals, and mint events across non-EVM chains (Solana, Aptos, Near, Polkadot Asset Hub, Stellar, and others)
- **Asset metadata**: Token addresses and decimal precision

## 3. Step-by-step calculation

### Component A: Extract and count raw transfer events

- **Purpose**: Identify and count individual token transfer events on a daily basis for each asset.
- **Logic**: On EVM-compatible chains, ERC-20 token transfers are parsed and counted. On Solana, SPL token transfers are parsed and counted. On Aptos, Near, and Ripple, token transfers and withdrawals are parsed and counted. On Stellar, classic token withdrawals and Soroban token transfers are aggregated. On Sui, token withdrawals and token mint events are aggregated. On Cardano, UTXO withdrawals and token mint events are aggregated. On Polkadot Asset Hub, `Transferred` events from the `assets` pallet are parsed.
- **Key fields**: `token_address`: The unique identifier of the token contract or asset. `block_timestamp`: The timestamp of the transaction block.

### Component B: Daily aggregation and zero-filling

- **Purpose**: Aggregate the daily transfer counts per asset and ensure continuous time-series data.
- **Logic**: The extracted transfer counts are aggregated daily for each token address on its respective chain. For days where no transfer activity is recorded for a tracked asset, the time series is filled with zero values to ensure a continuous daily record.
- **Key fields**: `timestamp`: The day of the activity. `asset_transfer_count`: The daily count of transfers per token on a specific chain.

### Component C: Final aggregation

- **Purpose**: Combine the daily transfer counts across all supported chains for each asset.
- **Logic**: The daily transfer counts from all individual chains are combined. Token addresses are mapped to unique asset identifiers using asset metadata. The final daily asset transfer count is then aggregated across all chains for each asset.
- **Key fields**: `timestamp`: The day of the activity. `asset_transfer_count`: The total aggregated daily transfer count for the asset.

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

Number of transfer transactions involving the asset.

Asset transfer count

Stablecoins

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etherscan

Stablecoin issuers

Solstice Foundation

Solstice USX (USX) is a U.S. dollar stablecoin issued by Solstice Foundation through Solstice Foundation.

Each token is redeemable one-for-one for U.S. dollars and is a collateral-backed contractual exposure rather than a direct claim on the issuer.

Reserves are held in accounts segregated from the issuer's own funds.

Custody of the reserves rests with Northern Trust, and Accountable attests them weekly.

Institutions can mint and redeem directly with Solstice Foundation in USDC, USDG, and USDT after completing KYC, and holders have a contractual right to redeem at par.

Solstice Foundation is the issuing entity.

Holder terms are governed by the law of the British Virgin Islands.

USX has been issued on Solana as a SPL Token token since June 2025.

Solstice USXUSX