Validators process transactions and receive fees from users (supply-side fees).

The Open Network (TON) is a smart contract platform for decentralized applications (a blockchain). The Open Network was founded by Telegram and launched in 2019.

GRAM holders own and govern the protocol. They currently take (burn) a cut of the total transaction fees paid by users (revenue). The Open Network's investors include KuCoin Ventures, MEXC Ventures, DWF Labs, etc.

governance

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website

Blockchains (L1)

# TON USDT transfer volume Methodology

## 1. Overview

TON USDT transfer volume measures the total daily volume of USDT (Tether) tokens transferred on the TON blockchain, expressed in USD. This metric tracks the usage and liquidity of USDT within the TON ecosystem by aggregating all successful USDT Jetton transfer events. The calculation identifies USDT transfers using TON's Jetton standard, aggregates transfer amounts daily, and converts the volume to USD using standard price feeds.

## 2. Data sources

The calculation uses the following raw data sources:
- **TON blockchain events**: Parsed `Jetton_Transfer_event` logs from the TON blockchain containing transfer details for Jetton tokens
- **Token metadata**: USDT token identification data including the specific jetton master address on TON (`0:B113A994B5024A16719F69139328EB759596C38A25F59028B146FECDC3621DFE`)
- **End-of-day price feeds**: Token price data used for USD conversion, accessed through Ethereum chain pricing infrastructure
- **Transaction status data**: Transaction success/failure information to filter out aborted transfers

## 3. Step-by-step calculation

### Component A: USDT transfer extraction
- **Purpose**: Extract all successful USDT Jetton transfers from TON blockchain events
- **Logic**: Filter TON `Jetton_Transfer_event` logs for transfers where the `jetton_master` field matches the hardcoded USDT token address. Exclude any transfers from aborted transactions using the `transaction_aborted` flag. Extract key transfer details including timestamps, source and destination addresses, and transfer amounts.
- **Key fields**: 
  - `block_timestamp` for timing
  - `source` and `destination` for transfer parties
  - `jetton_master` for token identification (filtered to USDT address)
  - `amount` for transfer quantity (converted from 6-decimal precision by dividing by 1e6)
  - `transaction_aborted` for filtering failed transactions

### Component B: Daily volume aggregation
- **Logic**: Group all USDT transfers by day using timestamp truncation to daily boundaries. Sum all transfer amounts within each day to calculate total daily transfer volume. The aggregation treats each day as a distinct time period and sums all successful USDT transfers that occurred during that period.
- **Key fields**:
  - `timestamp` truncated to day boundaries
  - `timestamp_grain` set to 'day'
  - `stablecoin_transfer_volume` as the sum of all transfer amounts
  - Static metadata fields including `chain_id` ('ton'), `market_sector_id` ('stablecoin_issuers'), and `business_segment_id` ('stablecoin_issuer')

### Component C: USD conversion and finalization
- **Purpose**: Convert USDT transfer volumes to USD and apply final metric formatting
- **Logic**: Apply USD conversion using end-of-day price feeds. The process temporarily sets the `chain_id` to 'ethereum' to access standard USD pricing infrastructure, then converts it back to 'ton' for the final output. Apply decimal correction and currency conversion through the standard conversion macro. 
- **Key fields**:
  - `usdt_transfer_volume` as the final USD-converted volume
  - `chain_id` corrected back to 'ton' after USD conversion
  - All timestamp and metadata fields preserved

### Final aggregation
- **Combining components**: The calculation flows sequentially through extraction, aggregation, and conversion steps without combining separate data streams
- **Currency conversion**: USD conversion uses standard end-of-day price feeds accessed through Ethereum pricing infrastructure, with the hardcoded token address `0xdac17f958d2ee523a2206206994597c13d831ec7` (USDT on Ethereum) for price lookup
- **Time aggregation**: Daily boundaries are established by truncating timestamps to day precision, with all transfers within a 24-hour period summed together
- **Final calculation**: The final metric represents the total USD value of all USDT transfers that occurred on the TON blockchain each day, calculated by summing individual transfer amounts (after decimal conversion from 6-decimal precision) and converting to USD using end-of-day exchange rates. The finalization process applies schema validation, ensures no date gaps through zero-filling, and applies chain availability filtering.

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

USD-denominated onchain transfer volume of USDT.

TONGRAM

USDT transfer volume

USDT transfer volume

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