sSBET, issued by Stablestocks Lab Limited, is a tokenized stock that gives onchain exposure to SharpLink Gaming, Inc., a U.S.-listed instrument, with each token backed 1:1 by one underlying share held in custody with licensed brokers. [S1][S2]

sSBET tracks the live market price of SharpLink Gaming, Inc. (SBET), and if the underlying issues a dividend or distribution and eligibility requirements are met, those economic rights pass through to the tokenholder, though voting rights remain with custodian holders. [S1][S2] Tokenholders may stake into StableVault to receive yield-bearing stStocks combining dividends with DeFi yields. [S3] A Service Fee of 0.1% of the transaction amount applies, alongside upstream broker and trading fees. [S4]

Stablestocks Lab Limited, brand StableStock, is incorporated in the British Virgin Islands and operates from Singapore. [S2][S5] It does not hold financial-services licenses and disclaims being a regulated entity, relying on broker-dealer partners holding an AFSL, a Hong Kong SFC Type 1 license, and U.S. MSB registration. [S5][S2][S6] An sToken is the tokenized representation of a real share; tokens are unregistered under the U.S. Securities Act and offered only to Qualified Investors through affiliated entities. [S5][S1] U.S. persons are barred and KYC and AML verification applies for leverage and IPO access. [S5][S4] Tokenholders may redeem and burn tokens at any time to retrieve the underlying share. [S1][S2]

sTokens are issued natively onchain on Bsc through a liquidity partnership with Native. [S1][S7] Tokens are minted when brokerage-held shares are deposited 1:1 and burned on redemption, with mint, burn, buy, and sell records recorded permanently onchain. [S1][S8] Stablecoin settlement in USDT and USDC funds purchases of real securities, and reserve coverage is published per asset and verified by weekly assurance reports. [S9][S8]

<Sources
  retrievedAt="2026-06-18"
  items={[
    { id: "S1", url: "https://stablestock.gitbook.io/ss/concepts/stokens" },
    { id: "S2", url: "https://stablestock.gitbook.io/ss/llms-full.txt" },
    { id: "S3", url: "https://stablestock.gitbook.io/ss/concepts/stablevault.md" },
    { id: "S4", url: "https://stablestock.gitbook.io/ss/concepts/spot/fee.md" },
    { id: "S5", url: "https://stablestock.gitbook.io/ss/legal/terms_of_use.md" },
    { id: "S6", url: "https://stablestock.gitbook.io/ss/introduction/trust-and-security.md" },
    { id: "S7", url: "https://stablestock.gitbook.io/ss/concepts/stokens.md" },
    { id: "S8", url: "https://stablestock.gitbook.io/ss/concepts/transparency" },
    { id: "S9", url: "https://stablestock.gitbook.io/ss/solution/our-model.md" },
  ]}
/>


# Asset TVL methodology

## 1. Overview

Asset TVL is calculated as the total value of a specific asset deposited into onchain applications, broken out by the protocol and product (venue) where it is deposited. This metric is utilized as a leading indicator of an asset's utility as productive collateral or liquidity across decentralized finance (DeFi). Currently integrated venues are comprised of lending markets such as Aave, Spark, Morpho, Venus, Kamino, and Flux, as well as DEX liquidity and vault products on Uniswap, Aerodrome, Orca, Raydium, xSwap, Mamo, Meteora, Instadapp, PancakeSwap, and Pendle. Coverage is expanded continuously as additional protocols and venues are integrated into the data pipeline.

## 2. Data sources

- **EVM chain events**: Protocol-specific TVL delta records, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: Protocol-specific TVL delta records, covering Solana
- **Asset metadata**: Token addresses, symbols, and decimal precision
- **External data**: End-of-day price feeds

## 3. Step-by-step calculation

### Component A: Extract daily TVL deltas

- **Purpose**: Retrieve the daily change in deposited asset quantities across integrated protocols and products.
- **Logic**: On EVM-compatible chains, daily net changes in asset balances are extracted from protocol-specific TVL pipelines. On Solana, daily net changes are similarly extracted from protocol-specific instruction pipelines. These changes are derived from the net result of deposits, withdrawals, mints, burns, and other balance-altering actions within each venue. The extracted records are grouped by timestamp, protocol, chain, product, token symbol, and token address.
- **Key fields**: `timestamp` (date of the record) `amount` (daily net change in asset quantity) `token_address` (onchain address of the asset) `product` (specific product or pool within the protocol) `protocol` (identifier of the protocol)

### Component B: Calculate cumulative TVL and fill missing days

- **Purpose**: Compute the running balance of each asset and ensure continuous daily coverage.
- **Logic**: The daily net changes are aggregated chronologically using a cumulative sum partitioned by protocol, chain, product, and asset to determine the total balance of the asset held in each venue over time. For days where no balance-altering events are recorded, the last known cumulative balance is carried forward to ensure a continuous daily time series.
- **Key fields**: `timestamp` (date of the record) `tvl` (cumulative asset balance)

### Component C: Map assets and convert to USD

- **Purpose**: Map token addresses to unique asset identifiers and convert the cumulative balances to USD.
- **Logic**: Token addresses are mapped to unique asset identifiers using a deduplicated asset registry to prevent data duplication. The cumulative asset quantities are normalized by decimal precision retrieved from asset metadata. The normalized balances are then multiplied by end-of-day price feeds to calculate the final USD value.
- **Key fields**: `timestamp` (date of the record) `tvl` (final cumulative asset balance in USD) `price_usd` (end-of-day price of the asset)

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

DeFi total value locked (TVL)

Value of the asset deposited into onchain venues (lending markets, DEX pools, vaults), broken out per venue.

DeFi TVL

Tokenized stocks

StableStock earns revenue from transaction fees on sStock issuance and redemption via its StableBroker product, and from the spread between deposit/withdrawal flows. Distribution is direct-to-retail (StableBroker app) and B2B via wallet/exchange integrations on BNB Chain.

StableStock issues sStock tokens — ERC-20 tokens on BNB Chain backed 1:1 by the underlying U.S. equity or ETF held at a licensed custodian. The product catalog spans 500+ tokenized stocks and ETFs (e.g. sAAPL, sNVDA, sTSLA, sQQQ) including newly-IPO'd names like sCRCL (Circle) and sBLSH (Bullish) and leveraged/inverse exposures. All sStocks are deployed as BeaconProxy contracts from a single upgradeable factory.

StableStock is an onchain stock asset platform that lets users buy and trade U.S. stocks and ETFs using stablecoins. StableStock is the issuer of sStock tokens — tokenized representations of equities — and is backed by YZi Labs (formerly Binance Labs) among others.

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Real-world asset (RWA) issuers

StableStock

StableStock SharpLink Gaming, Inc. (sSBET) is a token tracking SBET shares, backed by dedicated collateral with HabitTrade as broker.

The underlying security is listed in the financials sector in North America.

Each token tracks one underlying share, entitles holders to dividends, and carries no voting rights.

Residents of the United States and Hong Kong cannot mint or redeem with StableStock.

sSBET has been issued on BNB Chain as an ERC-20 token since August 2025.

StableStock SharpLink Gaming, Inc.sSBET