# 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

Tokens are deployed from factory contracts as 18-decimal ShareTokens on Arbitrum and whole-unit StockTokens on BSC, minted only against securities the protocol has acquired. Dividends are distributed to holders net of withholding tax rather than reinvested into the token. Offered only to non-U.S. persons under Regulation S after onboarding.

Stove Protocol issues tokenized stocks on Arbitrum One, HashKey Chain, Pharos and BSC covering companies and ETFs listed in the U.S., Hong Kong and Korea. Each token is a debt instrument that gives holders economic exposure to the underlying share, backed 1:1 by securities held with regulated brokers. Tokens carry no shareholder rights.

Stove Finance operates Stove Protocol, an onchain issuance and settlement protocol for tokenized equities. The legal entity behind the issuer is not publicly disclosed; the terms of service are governed by British Virgin Islands law.

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Real-world asset (RWA) issuers

Stove

SpaceX (Stove Tokenized Stock) (SPCXs) is a token tracking SPCX shares, backed by dedicated collateral.

The underlying security is listed in the information technology sector in North America.

Each token tracks one underlying share, entitles holders to dividends, which are distributed in cash, and carries no voting rights.

Professional investors, accredited investors, qualified investors, and institutions worldwide can mint and redeem directly with Stove after completing KYC.

Residents of Canada, China, the United States, and jurisdictions under applicable sanctions cannot mint or redeem with Stove.

SPCXs has been issued on public blockchains since June 2026 and is native to BNB Chain and Arbitrum One.

SpaceX (Stove Tokenized Stock)SPCXs