USDKG, issued by OJSC Virtual Asset Issuer, is a gold-collateralized stablecoin pegged 1:1 to the U.S. dollar (USD) and backed by overcollateralized physical gold reserves held in bank vaults within the Kyrgyz Republic. [S1][S2][S3]

Each token maintains a fixed 1:1 peg to the USD and does not track the gold price; gold appreciation does not expand supply, while declines trigger additional gold acquisition to maintain collateralization. [S3] The supply is backed by physical gold valued at London Bullion Market Association (LBMA) prices plus supplementary fiat and crypto liquidity buffers, reported at $54.8M against $50M in circulation, approximately 109.6% overcollateralized. [S4][S3] The instrument pays no yield, dividends, or distributions. [S3]

OJSC Virtual Asset Issuer is a state-owned entity under the Ministry of Finance of the Kyrgyz Republic, incorporated in the Kyrgyz Republic, with gold management handled by a private Kyrgyz company under the Gold Dollar brand. [S5] It operates under Kyrgyzstan's 2022 Law On Virtual Assets and a Virtual Asset Service Provider (VASP) regime, with Ministry of Finance supervision. [S2][S6] The token is a tokenized gold-collateralized instrument, not legal tender. [S2] Institutional holders may redeem directly, subject to KYC and AML verification and qualification criteria, for USD, supported cryptocurrencies, or gold case-by-case; retail users transact via supported exchanges. [S1][S2]

USDKG is issued as an ERC-20 token on Ethereum and a TRC-20 token on TRON, the only official deployments. [S1][S4] Tokens are minted on a permissioned, audit-first basis only after gold enters custody, is valued at LBMA prices, and is independently verified, with the Ministry of Finance co-signing each mint via multi-signature governance. [S2][S3] Kreston Global publishes quarterly reserve attestations. [S7]

<Sources
  retrievedAt="2026-06-23"
  items={[
    { id: "S1", url: "https://www.usdkg.com/" },
    { id: "S2", url: "https://www.usdkg.com/blog/how-usdkg-earned-legal-status-as-a-gold-backed-digital-currency" },
    { id: "S3", url: "https://www.usdkg.com/blog/usdkg-tokenomics-explained-dollar-pegged-gold-backed" },
    { id: "S4", url: "https://www.usdkg.com/transparency" },
    { id: "S5", url: "https://www.usdkg.com/blog/kyrgyzstan-launches-50m-gold-backed-usdkg-stablecoin" },
    { id: "S6", url: "https://www.usdkg.com/blog/building-usdkg-for-regulated-markets-in-2026" },
    { id: "S7", url: "https://www.usdkg.com/blog/usdkgs-gold-audit-a-new-standard-for-stablecoins" },
  ]}
/>


# Asset senders (weekly) methodology

## 1. Overview

`Asset senders (weekly)` is defined as the number of unique addresses that initiate asset transfers over a rolling 7-day period. For each tracked asset, outgoing transactions are analyzed to identify the addresses responsible for moving tokens. This metric is utilized as a key indicator of weekly user activity and transactional engagement for tokenized assets across various blockchain networks. By aggregating unique sending addresses within a moving 7-day window, short-term fluctuations are smoothed out to provide a clearer view of active adoption.

## 2. Data sources

- **EVM chain events**: ERC-20 token transfers, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: Token transfer instructions
- **Other blockchain data**: Token transfer and withdrawal events from Aptos, Near, Polkadot Asset Hub, Stellar, Sui, Ripple, and others
- **Asset metadata**: Token contract addresses and asset mapping datasets

## 3. Step-by-step calculation

### Component A: Extraction of daily sending addresses

- **Purpose**: Identify and extract unique addresses initiating token transfers on a daily basis for each asset.
- **Logic**: On EVM-compatible chains, sending addresses are extracted from ERC-20 token transfers where the sender address is not the null address. On Solana, sending addresses are identified from token transfer instructions using the authority address. On Aptos, Sui, Cardano, and Stellar Classic, sending addresses are retrieved from token withdrawal events. On Stellar Soroban, transfers are parsed from Soroban token transfer events, excluding mint transactions where the sender address is null. On Polkadot Asset Hub, `Transferred` events from the `assets` pallet are parsed to identify the sender. On Ripple, outgoing transfers are identified where the transaction value is negative. On Near and Injective, sending addresses are extracted from token transfer events where the sender address is populated.
- **Key fields**: `timestamp` (block time truncated to the day), `token_address` (the contract or asset identifier), `sender_address` (the address initiating the transfer)

### Component B: Rolling 7-day window aggregation

- **Purpose**: Aggregate daily active senders into a rolling 7-day window to calculate weekly activity.
- **Logic**: A daily datespine is generated to establish a continuous timeline. For each day in the timeline, a rolling 7-day window is constructed by looking back at the preceding six days. Daily unique sending addresses are mapped to each active window based on their transaction timestamps.
- **Key fields**: `timestamp` (the reference day for the rolling window), `token_address` (the asset identifier), `sender_address` (the address active within the window)

### Component C: Final deduplication and aggregation

- **Purpose**: Calculate the final weekly unique sender count per asset and chain.
- **Logic**: Within each rolling 7-day window, sending addresses are deduplicated to ensure each unique address is counted only once per asset, regardless of transaction frequency. The deduplicated counts are aggregated at both the individual chain level and the global asset level. Missing dates are filled with zero values to maintain a continuous time series.
- **Key fields**: `timestamp` (the reference day), `chain_id` (the blockchain identifier), `token_address` (the asset contract address), `asset_senders_weekly` (the count of unique weekly sending addresses)

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

Unique asset senders over a rolling 7-day window.

Asset senders (weekly)

Stablecoins

Each USDKG token is fully collateralized by gold reserves and maintains a 1:1 peg to the U.S. Dollar; gold custody and reserve management are delegated to a Kyrgyz-registered private operator under contract with the issuer.

USDKG is a U.S. Dollar-pegged stablecoin backed 1:1 by gold reserves, designed for 24/7 transactions and instant cross-border settlement. It launched in 2025 with an initial $50M issuance on Tron, was audited by ConsenSys Diligence, and has since expanded to Ethereum.

USDKG is issued by OJSC Virtual Asset Issuer, a state-owned entity under the Ministry of Finance of the Kyrgyz Republic, operating under the country's 2022 Law on Virtual Assets. Day-to-day operations, including gold management, are run by project operator Gold Dollar.

website

twitter

Stablecoin issuers

USDKG

USDKG (USDKG) is a U.S. dollar stablecoin issued by USDKG through OJSC Virtual Asset Issuer.

Each token is redeemable one-for-one for U.S. dollars and is a direct claim on the issuer.

Reserves are held in precious metals, attested quarterly by Kreston Global.

Institutions can mint and redeem directly with USDKG in USD, KGS, and gold after completing KYC, and holders have a contractual right to redeem at par.

OJSC Virtual Asset Issuer is supervised by the Ministry of Finance of the Kyrgyz Republic.

USDKG has been issued on public blockchains since December 2025 and is native to Tron and Ethereum.

USDKGUSDKG