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Real-world asset (RWA) issuers

Superstate

# Superstate Net deposits Methodology

## 1. Overview

Net deposits is measured as the dollar value of user assets deposited in the protocol's smart contracts and recorded via off-chain book-entry systems. This metric is utilized by investors to assess capital commitment and overall protocol trust for products including Superstate USCC and Superstate Short Duration U.S. Government Securities Fund (USTB). The time-weighted average USD value of all locked assets is aggregated across supported chains and contract types.

## 2. Data sources

- **Blockchain events**: Share distribution and net asset value data for Superstate funds, covering Ethereum, Plume, Solana, and off-chain book-entry systems

## 3. Step-by-step calculation

### Component A: Share distribution tracking for Superstate USCC and Superstate Short Duration U.S. Government Securities Fund (USTB)

- **Purpose**: Capture the quantity of outstanding shares held by users across different environments
- **Logic**: Share counts are extracted from distribution records for each fund and chain. This includes tracking shares on Ethereum, Plume, and Solana, as well as off-chain book-entry positions. Negative share values are filtered out to ensure data integrity.
- **Key fields**: `shares`, `fund_id`, `chain_id`

### Component B: Net asset value integration for Superstate funds

- **Purpose**: Retrieve the per-share valuation for each fund
- **Logic**: The daily net asset value (NAV) for each fund is retrieved from financial reporting data. This value represents the per-share dollar value of the underlying assets and is used as the primary valuation multiplier.
- **Key fields**: `net_asset_value`, `fund_id`

### Component C: Valuation and aggregation

- **Purpose**: Calculate the total USD value of committed capital
- **Logic**: Net deposits are calculated by multiplying the total shares held on each chain by the daily net asset value of the respective fund. Only positive values are included in the final aggregation. A fill-forward strategy is applied to maintain data continuity across days where new data points are not recorded, ensuring a consistent time-weighted average.

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

Value of user assets deposited in the protocol.

Superstate

Net deposits

Net deposits

Competitive landscape

Chain breakdown