# 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

The platform operates through a comprehensive infrastructure that includes Chainlink oracles for verified price data, Chainlink Proof of Reserve for transparent collateral verification, and Chainlink CCIP for cross-chain bridging capabilities. xStocks provides both retail products through partnerships with major exchanges like Kraken and Bybit, and institutional tokenization services that allow funds and financial institutions to create custom tokenized investment products within weeks. The business model encompasses both direct token issuance and a turnkey tokenization platform for enterprise clients seeking to digitize their investment strategies and fund structures.

xStocks creates tokenized representations of real-world assets (RWAs) including stocks and ETFs as ERC-20 tokens called xStocks that are fully composable with DeFi protocols. Each token is backed 1:1 by the underlying asset held by licensed third-party custodians, allowing users to gain exposure to traditional financial markets within the decentralized finance ecosystem. The platform offers multichain support and enables users to bridge assets across different blockchains while maintaining full redeemability for the underlying asset's cash value.

xStocks is a Swiss-based fintech company that specializes in bringing traditional financial assets onto blockchain infrastructure through tokenization. The company operates under a compliant regulatory framework based on the Swiss DLT Act to provide institutional-grade tokenized securities.

Wrapped State Street SPDR S&P 500 ETF Trust xStockwSPYx