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Tron USDD

# Tron USDD Circulating asset market cap Methodology

## 1. Overview

Circulating asset market cap measures the total value of USDD that has been tokenized and is circulating on-chain. This metric reflects the outstanding supply of the stablecoin multiplied by its current market price. It is a key indicator of the total liquidity and adoption of USDD across supported blockchain networks.

## 2. Data sources

- **Blockchain events**: `Deposit` and `Withdrawal` events from `USDD` contracts on Tron
- **External data**: End-of-day price feeds for the USDD asset

## 3. Step-by-step calculation

### Component A: Mint and redemption tracking

- **Purpose**: Identify all on-chain actions that increase or decrease the circulating supply of USDD
- **Logic**: `Deposit` events and `Withdrawal` events are parsed from `USDD` contracts. `Deposit` events are classified as mints, representing new assets entering circulation. `Withdrawal` events are classified as redemptions, representing assets being removed from circulation. Events where the transaction has been removed from the canonical chain are excluded.
- **Key fields**: `block_timestamp`, `token_address`, `amount`

### Component B: Outstanding supply calculation

- **Purpose**: Determine the total quantity of tokens in circulation at any given point in time
- **Logic**: The net change in supply is calculated for each day by subtracting total redemptions from total mints. A cumulative sum is applied to these daily net changes to arrive at the total outstanding supply. For days where no mint or redemption activity occurs, the previous day's balance is carried forward to ensure a continuous time series.
- **Key fields**: `amount`, `timestamp`

### Component C: USD normalization and aggregation

- **Purpose**: Convert the circulating supply into a standardized USD market capitalization
- **Logic**: The outstanding supply is multiplied by end-of-day asset price feeds. Amounts are normalized by decimal precision to ensure accuracy across different implementations. The final values are aggregated at a daily granularity using UTC day boundaries.
- **Key fields**: `outstanding_supply`, `price_usd`

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

Tokenized asset value / AUM (assets under management) — price times circulating supply.

Tron USDD

Circulating asset market cap

Circulating asset market cap

Competitive landscape

Chain breakdown