YNUSDX, issued by the YieldNest Protocol smart contracts under the governance of YieldNest DAO tokenholders, is a tokenized vault interest providing economic exposure to a diversified onchain U.S. dollar (USD) stablecoin yield strategy. [S1][S2]

Each token is an ERC-4626 vault share whose underlying is USD Coin (USDC) deployed across stablecoin lending and liquidity strategies including Morpho USDC Core, SuperUSDC, and the ynRWAx real-world asset vault, targeting approximately 4 to 15%+ APY. [S1] Returns accrue through share-price appreciation as strategy yield auto-compounds into the vault, with token quantity held constant rather than rebasing. [S1][S2] No vault-level fees are charged; fees apply only at the underlying strategy level and vary by protocol. [S1]

YNUSDX is issued and redeemed permissionlessly by smart contracts rather than by a single named corporate entity; the protocol is operated and governed by the YieldNest DAO, with parameters, strategy whitelisting, and fees controlled by DAO governance. [S1][S3] The holder's claim is a proportional ERC-4626 vault share in the assets held in the MAX vault. [S2] The Terms and Conditions require users to be at least 18 and prohibit sanctioned persons, restricted parties, and persons in sanctioned jurisdictions. [S4] Redemption uses a buffer system providing instant first-come-first-served exits, pausing when the buffer depletes until rebalancing refills it, estimated at 1 to 10 days, or secondary-market swaps via Curve. [S1][S2]

YNUSDX is a fully ERC-4626-compliant vault token issued natively on Ethereum L1, with strategies that may deploy across Ethereum L2s and other chains that propagate trustless data back to the vault. [S1][S2] Minting occurs when a user deposits USDC and receives share tokens at the prevailing share price, supplied by a RateProvider; deposits are open on a rolling basis. [S1][S2]

<Sources
  retrievedAt="2026-06-24"
  items={[
    { id: "S1", url: "https://docs.yieldnest.finance/llms-full.txt" },
    { id: "S2", url: "https://docs.yieldnest.finance/protocol-design/max-vaults.md" },
    { id: "S3", url: "https://docs.yieldnest.finance/" },
    { id: "S4", url: "https://www.yieldnest.finance/terms-and-conditions" },
  ]}
/>


# Asset transfer count methodology

## 1. Overview

Asset transfer count is defined as the number of user transactions that move assets between addresses. It is utilized to reflect how frequently assets are used for payments, trading, or other onchain activity. The metric is calculated daily for each tracked asset across all supported blockchains. By aggregating these transfer events, a comprehensive view of onchain utility and transactional velocity is provided.

## 2. Data sources

- **EVM chain events**: ERC-20 token transfers, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: SPL token transfers
- **Other blockchain events**: Token transfers, withdrawals, and mint events across non-EVM chains (Solana, Aptos, Near, Polkadot Asset Hub, Stellar, and others)
- **Asset metadata**: Token addresses and decimal precision

## 3. Step-by-step calculation

### Component A: Extract and count raw transfer events

- **Purpose**: Identify and count individual token transfer events on a daily basis for each asset.
- **Logic**: On EVM-compatible chains, ERC-20 token transfers are parsed and counted. On Solana, SPL token transfers are parsed and counted. On Aptos, Near, and Ripple, token transfers and withdrawals are parsed and counted. On Stellar, classic token withdrawals and Soroban token transfers are aggregated. On Sui, token withdrawals and token mint events are aggregated. On Cardano, UTXO withdrawals and token mint events are aggregated. On Polkadot Asset Hub, `Transferred` events from the `assets` pallet are parsed.
- **Key fields**: `token_address`: The unique identifier of the token contract or asset. `block_timestamp`: The timestamp of the transaction block.

### Component B: Daily aggregation and zero-filling

- **Purpose**: Aggregate the daily transfer counts per asset and ensure continuous time-series data.
- **Logic**: The extracted transfer counts are aggregated daily for each token address on its respective chain. For days where no transfer activity is recorded for a tracked asset, the time series is filled with zero values to ensure a continuous daily record.
- **Key fields**: `timestamp`: The day of the activity. `asset_transfer_count`: The daily count of transfers per token on a specific chain.

### Component C: Final aggregation

- **Purpose**: Combine the daily transfer counts across all supported chains for each asset.
- **Logic**: The daily transfer counts from all individual chains are combined. Token addresses are mapped to unique asset identifiers using asset metadata. The final daily asset transfer count is then aggregated across all chains for each asset.
- **Key fields**: `timestamp`: The day of the activity. `asset_transfer_count`: The total aggregated daily transfer count for the asset.

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

Number of transfer transactions involving the asset.

Asset transfer count

Tokenized funds

YieldNest issues liquid restaking tokens (e.g., ynETH) representing ETH restaked into EigenLayer earning AVS rewards, taking a fee on restaking rewards distributed to holders.

YieldNest is an Ethereum liquid restaking protocol providing ynETH and ynLSDs tokens to generate yield through EigenLayer restaking strategies.

YieldNest was co-founded by Amadeo Brands, Shawn Fladager, and Dan Octavian, raising $5.2M to build a liquid restaking protocol.

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Asset management

YieldNest

ynUSD Max (YNUSDX) is a tokenized fund share issued by YieldNest.

The fund is open-ended and invests in multi-asset.

Retail investors, professional investors, accredited investors, qualified investors, qualified purchasers, and institutions can subscribe and redeem in USDC, and holders have a right to redeem at net asset value with instant settlement.

YNUSDX has been issued on Ethereum as an ERC-4626 token since June 2025.

ynUSD MaxYNUSDX