HIVE, issued by Swarm Capital GmbH, is a tokenized stock representing economic exposure to shares of HIVE Digital Technologies, an equity held in custody and backed on a one-to-one basis by the real underlying stock. [S1][S2]

The token tracks the value of the underlying HIVE Digital Technologies shares, which Swarm Capital GmbH states are 100% backed by real stocks bought in traditional financial markets and held by institutional custodians. [S2] A token trustee verifies the tokenization process and confirms minting. [S1] Holders bear issuance and redemption fees applied to real-world asset tokens, together with custody fees that Swarm calculates daily and deducts monthly. [S2][S3]

Swarm Capital GmbH is registered in Liechtenstein and is the entity responsible for the tokenized stock program. [S1][S2] The underlying shares are 100% backed and held by institutional custodians, with a token trustee monitoring tokenization and confirming that each token is backed by real equity. [S1][S2] Tokenholders may redeem for the value of the underlying asset; redemption requests are processed once they reach 100,000 U.S. dollars (USD) in aggregate and are distributed in USD Coin (USDC). [S2] Transacting is not available to U.S. persons or residents of non-serviced countries. [S3]

Tokenized stocks are issued and traded on the Polygon and Ethereum blockchain networks, with Polygon serving as the primary network for real-world asset tokens and USDC used for settlement. [S2][S4] Tokens are minted upon receipt and verification of the underlying shares, and redemptions settle in USDC once the aggregate threshold is reached. [S1][S2]

<Sources
  retrievedAt="2026-09-09"
  items={[
    { id: "S1", url: "https://docs.swarm.com/getting-started/faq.md" },
    { id: "S2", url: "https://docs.swarm.com/llms-full.txt" },
    { id: "S3", url: "https://docs.swarm.com/about/terms/tos.md" },
    { id: "S4", url: "https://docs.swarm.com/reference/authorized-assets.md" },
  ]}
/>


# Asset Price methodology

## 1. Overview

Asset price represents the closing USD value of a tokenized asset at the end of each day. Daily prices are recorded to facilitate the valuation of on-chain activity and the calculation of market capitalization. Each price point reflects the market value at the conclusion of the UTC day.

## 2. Data sources

- **Asset metadata**: Token contract addresses, ticker identifiers, and on-chain launch timestamps
- **External data**: End-of-day price feeds and exchange rate feeds from market data providers
- **Blockchain data**: Data covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others) and non-EVM chains such as Solana, Aptos, and Near

## 3. Step-by-step calculation

### Component A: Market data retrieval

- **Purpose**: Collect raw daily price information
- **Logic**: Daily price data is retrieved from external market data providers. For assets pegged to specific currencies, prices are calculated using a multiplier and daily exchange rates. For assets traded on traditional exchanges where data is unavailable on certain days, such as weekends or holidays, missing values are filled with the last available closing price.

### Component B: Timestamp normalization

- **Purpose**: Align price data with daily reporting periods
- **Logic**: Timestamps are truncated to the daily grain. To accurately reflect the closing value, prices recorded at the start of a day (00:00:00 UTC) are assigned to the preceding calendar day.

### Component C: Asset mapping and deduplication

- **Purpose**: Associate prices with unique assets and resolve data overlaps
- **Logic**: Prices are mapped to assets using unique identifiers for EVM-compatible and non-EVM chains. To ensure data integrity, price records are filtered to include only those occurring on or after the asset's on-chain launch date. In instances where price data for a single asset is available from multiple sources, the data is deduplicated by selecting the record with the highest priority to ensure a single, consistent closing price.

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

Asset price

Tokenized stocks

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github

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Real-world asset (RWA) issuers

Swarm Markets

Swarm HIVE Digital Technologies (HIVE) is a token tracking HIVE shares, backed by dedicated collateral, issued by Swarm Markets through SwarmX GmbH, and distributed through SwarmX GmbH.

The underlying security is listed in the financials sector.

Each token entitles holders to dividends, which are distributed in cash.

The collateral assets are held by SwarmX GmbH in accounts segregated from the issuer's own funds.

Retail investors, professional investors, and institutions in the European Economic Area can mint and redeem directly with Swarm Markets in HIVE after completing KYC.

Residents of the United States cannot mint or redeem with Swarm Markets.

SwarmX GmbH is incorporated in Germany, is offered under an SEC Regulation S exemption, is offered under an EU-approved prospectus, and is supervised by the Liechtenstein Financial Market Authority (FMA).

Holder terms are governed by the law of Germany.

HIVE is native to BNB Chain, Base, Ethereum, HyperEVM, Plasma, and Polygon.

Swarm HIVE Digital TechnologiesHIVE