VGBP, issued by VNX Commodities AG, is a fiat-referenced token marketed as a stablecoin that references the British pound (GBP) on a minimum one-to-one parity basis and represents the information that a corresponding reserve exists. [S1]

Each VGBP references the British pound (GBP) and does not generate interest, returns, or any accrual to the holder; it tracks the referenced currency only. [S1] The reserve is gold-collateralized, initially comprised of VNX Gold (VNXAU), with parity maintained via gold's intraday daily LBMA exchange rate to the legal tender. [S1] Holders bear a tiered exchange fee of 0.3% below 100,000 EUR, 0.2% above that, and 0.1% above 1,000,000 EUR. [S1]

VNX Commodities AG is incorporated in Liechtenstein, register number FL0002.654.2718, and is registered as a TT Service Provider with the Financial Market Authority (FMA) under the Token and Trusted Technology Service Provider Act. [S2][S3][S4] A VGBP does not represent a right but represents information, and VNX makes no contractual commitments to holders. [S1] Users must be at least 18, register a VNX Account with KYC, and reside in supported jurisdictions; Restricted Persons under EU, US, and UK sanctions are excluded. [S1] Redemption occurs solely via a platform TT exchange service into fiat or another token; balances carry no deposit insurance. [S1]

VGBP is issued on Ethereum and other VNX Supported Blockchains, a multichain set including Polygon PoS, Solana, Base, Avalanche, Arbitrum, Celo and ICP. [S5][S6][S1] FRT is generated against VNX Gold reserves formed at generation; settlement and exchange occur onchain through the platform after KYC, with balances supported to two decimal places, rounded down. [S1]

<Sources
  retrievedAt="2026-06-21"
  items={[
    { id: "S1", url: "https://vnx.li/legal/" },
    { id: "S2", url: "https://vnx.li/transparency/" },
    { id: "S3", url: "https://vnx.li/imprint/" },
    { id: "S4", url: "https://vnx.li/legal/" },
    { id: "S5", url: "https://vnx.li/" },
    { id: "S6", url: "https://vnx.li/gold/" },
  ]}
/>


# Asset senders (monthly) methodology

## 1. Overview

Asset senders (monthly) is defined as the number of unique addresses from which asset transfers are initiated over a rolling 30-day period. For each tracked asset, outgoing transfer transactions are analyzed across supported blockchains to identify the sending addresses. These addresses are deduplicated over a 30-day window to represent the monthly active sender base. This metric is utilized to evaluate user adoption, transactional activity, and the overall utility of tokenized assets.

## 2. Data sources

- **EVM chain events**: Token transfer events, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: Token transfer instructions
- **Aptos, Sui, Cardano, and Stellar Classic data**: Token withdraw transactions
- **Stellar Soroban, Algorand, Near, Injective, and Ripple data**: Token transfer transactions
- **Polkadot Asset Hub events**: `Transferred` events from `assets` pallets
- **Asset metadata**: Token contract addresses and decimal precision

## 3. Step-by-step calculation

### Component A: Extract daily asset senders

- **Purpose**: Identify unique addresses initiating transfers on a daily basis
- **Logic**: On EVM-compatible chains, token transfer events are parsed to extract the sender address from the transaction, excluding the zero address. On Solana, token transfer instructions are parsed to identify the authority address. On Aptos, Sui, Cardano, and Stellar Classic, token withdraw transactions are parsed to extract the account address. On Stellar Soroban, Algorand, Near, and Injective, token transfer transactions are parsed to extract the sender address, excluding null addresses. On Ripple, token transfer transactions with negative values are parsed to identify the sending account address. On Polkadot Asset Hub, `Transferred` events from `assets` pallets are parsed to extract the sender address. For all chains, the extracted addresses are grouped by day and token address to produce a daily record of unique senders.
- **Key fields**: `timestamp` (block day), `token_address` (asset identifier), `sender_address` (initiating address)

### Component B: Aggregate rolling monthly senders

- **Purpose**: Calculate the unique sender count over a rolling 30-day window
- **Logic**: A daily datespine is generated to establish a continuous timeline. For each day in the timeline, a 30-day lookback window is constructed, encompassing the current day and the preceding 29 days. Daily sender addresses collected within this window are aggregated and deduplicated. The total number of unique, deduplicated addresses is then counted for each asset on each day.
- **Key fields**: `timestamp` (calculation day), `token_address` (asset identifier), `asset_senders` (unique monthly sender count)

### Component C: Final aggregation and zero-filling

- **Purpose**: Combine data across chains and fill missing activity days
- **Logic**: The deduplicated monthly sender counts are aggregated at both the individual chain level and the global asset level. For days where no transfer activity is recorded for a tracked asset, the metric is filled with zero values to maintain a continuous time series.
- **Key fields**: `timestamp` (reporting day), `chain_id` (blockchain identifier), `token_address` (asset identifier), `asset_senders` (final monthly unique sender count)

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

Unique asset senders over a rolling 30-day window.

Asset senders (monthly)

Stablecoins

The platform operates across multiple blockchains including Ethereum, Polygon, Solana, Base, and others, allowing users to buy, sell, and transfer tokens 24/7. VNX maintains regulatory compliance through its TVTG registration as a Token Generator and Service Provider, ensures transparency through asset allocation lookups and regular reporting, and generates revenue through token issuance and platform services.

VNX creates blockchain-based tokens that represent physical assets, offering VEUR, VCHF, VGBP (fiat-referenced tokens) and VNXAU (gold-backed tokens). These multichain digital assets enable users to trade, transfer, and utilize real-world assets in DeFi protocols while maintaining regulatory compliance and full transparency through allocated physical backing.

VNX is a Liechtenstein-licensed blockchain company regulated by the Financial Market Authority (FMA) that specializes in tokenizing real-world assets including fiat currencies and precious metals.

twitter

website

Stablecoin issuers

VNX British Pound (VGBP) is a British Pound stablecoin issued by VNX through VNX Commodities AG.

Reserves are held in bank deposits, attested by AREVA General Auditing and Trust Company Limited.

Holders can mint and redeem directly with VNX in GBP after completing KYC.

VNX Commodities AG is incorporated in Liechtenstein.

VGBP has been issued on Solana as an ERC-20 and SPL Token token since December 2024, with bridged versions on two more.

VNX British PoundVGBP