# 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)

Stablecoins

Tokens are issued 1:1 only against received fiat deposits, never on credit, and are backed by cash deposits and high-quality liquid assets held separately from operational funds. Holders have a legal right to redeem at par value on demand under MiCA Article 49.

Stable Mint Ltd is an MFSA-authorised Electronic Money Institution issuing Electronic Money Tokens under Title IV of the EU Markets in Crypto-Assets Regulation. It issues USDSM and EURSM, each backed by segregated fiat reserves.

Businesses, platforms, merchants and treasuries that need multi-currency settlement and API integration.

website

twitter

Stablecoin issuers

Stable Mint

Stable Mint USD (USDSM) is a U.S. dollar stablecoin issued by Stable Mint through Stable mint Ltd.

Each token is redeemable one-for-one for U.S. dollars and is a direct claim on the issuer.

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

Institutions can mint and redeem directly with Stable Mint in USD after completing KYC, and holders have a contractual right to redeem at par.

Stable mint Ltd is incorporated in Malta, is authorised under MiCA, and is supervised by the Malta Financial Services Authority.

Holder terms are governed by the law of Malta.

USDSM has been issued on public blockchains since October 2024 and is native to Ethereum, Arbitrum One, and Base.

Stable Mint USDUSDSM