Stablecoins

Get macro metrics to granular transaction details of Stablecoin movements on chain.

Our crosschain.stablecoin schemas allow users to investigate onchain stablecoin activity across multiple blockchains.

The stablecoin vertical supports currencies aside from usd (e.g. cny, jpy, try, eur, cad, etc.)

Table Name

Description

Table of main stablecoins (inclusive of other currencies) and their respective contract addresses across various chains.

Transfers of all stablecoins indexed by Allium. Includes all stablecoins on crosschain.stablecoin.list

Pre-built metrics for stablecoin transfer activity (e.g. volume & transaction counts), aggregated by day, chain and token address. Includes adjusted activity metrics.

Chain Coverage

Click to expand

Chain

stablecoin.list

stablecoin.transfers

metrics.stablecoin_volume

aptos

✓

arbitrum

✓

arbitrum_nova

✓

astar

✓

avalanche

✓

base

✓

berachain

✓

blast

✓

bsc

✓

celo

✓

cosmos

✓

ethereum

✓

fantom

✓

fraxtal

✓

gnosis

✓

hedera

✓

imx_zkevm

✓

ink

✓

linea

✓

manta_pacific

✓

mantle

✓

metis

✓

mode

✓

near

✓

oasys

✓

optimism

✓

osmosis

✓

polygon

✓

polygon_zkevm

✓

real

✓

ronin

✓

rootstock

✓

scroll

✓

solana

✓

soneium

✓

sonic

✓

starknet

✓

sui

✓

ton

✓

tron

✓

unichain

✓

worldchain

✓

zksync

✓

We are currently working on expanding stablecoin coverage for more chains and add on a case by case basis. Please reach out to us if you have any questions or would like to request coverage for a specific chain.

Stablecoins List

The stablecoin list includes a list of curated stablecoins with various denominations. This list is used to identify the list of stablecoins to be included in the crosschain.stablecoin.transfers table.

Unique Key: chain, address

Column Name

Description

currency

The ISO currency code (e.g. usd, eur, jpy, xau (gold)) of the stablecoin, in lower case.

base_asset

The underlying stablecoin for stablecoins that are issued by third parties, such as bridges, or defi-protocols.

address

The contract address of the stablecoin. The contract address for a stablecoin is unique on the blockchain.

symbol

Symbol of the token, in lower case by default.

name

Name of the token.

decimals

Decimals of the token, used for normalization. This field is optional and may be null.

chain

Blockchain of the where the stablecoin is based, in lower case.

is_bridge

When TRUE, this means that the stablecoin is bridged.

Stablecoins can be broadly classified into their underlying peg mechanism.

They can be fiat-backed, commodity-backed, algorithmic, crypto-backed (DAI), or a hybrid of many.

For fiat-backed stablecoins, there is often a regulated entity involved in the issuance and management of the stablecoin ensuring its stability and value. These entity-issued stablecoins are said to be "native".

Using USDC as an example, there are multiple variants of USDC:

A native stablecoin refers to a stablecoin issued directly from a regulated entity such as Circle, which is redeemable for the underlying asset (be it US Dollars, Euros, etc). Circle maintains a list of their native stablecoins here.
A bridged stablecoin refers to a stablecoin that is issued by a third-party application (e.g. Wormhole, Axelar, etc.) issued by locking a native stablecoin in a smart contract on one blockchain to mint a bridged stablecoin on another blockchain.
A defi variant stablecoin refers to a stablecoin issued by a decentralized application (e.g. Compound, Aave, etc.) and is backed by the underlying collateral assets in the protocol. One example is Aave interest-bearing USDC (aUSDC).

The base_asset field in the stablecoin list aims to capture the underlying stablecoin of a token. For example, Axelar USDC, Aave USDC, and Bridged USDC.e on Avalanche will all be labelled as usdc its base_asset.

Stablecoin Transfers

The stablecoin transfers table contains all on-chain transfers of stablecoins found in the stablecoin list. This table allows users to aggregate stablecoin activity across multiple chains while also fetching granular transfer details.

A short primer on Allium's transfer schema and how it maps to the on-chain data can be found here:

Token Transfers

Sample Query

Overview of transfer volume of usd stablecoins on blockchains indexed by Allium in the last 6 months.

select 
    date_trunc('week', block_timestamp) as date,
    chain,
    token_symbol,
    count(distinct from_address) as senders,
    sum(amount) as daily_volume 
    from crosschain.stablecoin.transfers 
where 1=1 
    and block_timestamp > current_timestamp - interval '6 months'
    and currency = 'usd' -- iso currency code
group by all

Table Columns

Blockchains Supported: ethereum, bsc, optimism, polygon, base, avalanche, solana, arbitrum, scroll, celo, blast, tron, ton^, polygon_zkevm

^ ton transfers are currently in beta.

Column Name

Description

Example

chain

Blockchain of the transfer.

ethereum

token_type

Token Standard. (E.g. erc20, trc20, spl)

erc20

from_address

Address where the token is being transferred from. *Sender address (not token account) for Solana.

0x8ebad4aa179cb14c8939ef8d3785859a7cf45673

to_address

Address where the token is being transferred to. *Recipient address (not token account) for Solana.

0x61da7961439f671ddc02b18ce0575cc585c3dcd9

token_address

Token address of the asset transferred. *Token mint for Solana.

0xdac17f958d2ee523a2206206994597c13d831ec7

token_name

Name of the asset transferred.

Tether USD

token_symbol

Symbol of the asset transferred.

USDT

raw_amount

Amount of tokens moved (unnormalized).

1993200000

amount

Amount of token moved, normalized.

1993.2

usd_amount

USD value of the amount of tokens transferred.

1995.1932

transaction_from_address

The address of the sending party of this transaction. *Signer address for Solana.

0x8ebad4aa179cb14c8939ef8d3785859a7cf45673

transaction_to_address

The address of the receiving party of this transaction (could be a contract address). *Null for Solana

0x4f391c202a906eed9e2b63fdd387f28e952782e2

transaction_hash

Transaction hash that this transfer belongs to.

0xeb63929f60bf8a6013fcdbe6af3a6687652ecbebb53f08da08f91f24d9980e19

block_timestamp

The time when the block that contains this transaction was included on the blockchain.

2020-05-04 04:34:53

block_number

The block number that the corresponding transaction of this transfer belongs to. *Block Height for Solana.

9997570

block_hash

The block hash that the corresponding transaction of this transfer belongs to.

0x31ba5abf842755faebb7dbdd2f7a6d3d017351807b735c8eb19f4002ff9c2a5c

unique_id

Unique id generated for each transfer.

txn-0xeb63929f60bf8a6013fcdbe6af3a6687652ecbebb53f08da08f91f24d9980e19_log_index-89

currency

The ISO currency code (e.g. usd, eur, jpy, xau (gold)) of the stablecoin in lowercasing.

usd

base_asset

The base assets in symbol in lowercasing. (i.e. usdt, usdc, tusd, dai, etc).

usdt

is_bridge

When TRUE, this means that the stablecoin is a bridged entity from Wormhole and/or bridges based on their token names.

FALSE

For non-EVM compatible chains such as Solana, the underlying columns mapping for certain columns are annotated accordingly.

Stablecoin Metrics

The crosschain.metrics.stablecoin_volume table aggregates stablecoin activity from crosschain.stablecoin.transfers by day, chain and token address.

It includes adjusted activity metrics using the following methodologies:

Single Direction Max Transfer - only the largest stablecoin amount transferred within a single transaction is counted
Single Direction Net Transfer - the largest net stablecoin amount transferred per token, to a single address, for each transaction, is counted
Entity Adjusted, Single Direction Max Transfer - in addition, to applying the Single Direction Max Transfer logic, this methodology also uses labels & heuristics to remove bot related activity (e.g. if an address does more than 1,000 transactions and $10m in transfer volume in a rolling 30-day window), or intra-exchange volume (i.e. when transfers are made between two CEX/DEX addresses)

Table Columns

Unique Key: chain, activity_date, token_address

Column Name

Description

chain

The name of the blockchain

token_address

The address of the stablecoin

token_symbol

The token symbol of the stablecoin

currency

The ISO currency code (e.g. usd, eur, jpy, xau (gold)) of the stablecoin in lowercasing

base_asset

The base assets in symbol in lowercasing. (i.e. usdt, usdc, tusd, dai, etc)

activity_date

The date for which metrics are being calculated. Only includes completed days.

transfer_tx_count

The total number of transactions with stablecoin transfers.

transfer_count

The total number of stablecoin transfers.

avg_transfer_count

The average number of stablecoin transfers

transfer_volume

The total volume of stablecoin transfers (normalized)

transfer_volume_usd

The total volume of stablecoin transfers in USD terms

avg_transfer_volume

The average volume of stablecoin transfers (normalized)

avg_transfer_volume_usd

The average volume of stablecoin transfers in USD terms

transfer_volume_is_anomaly

A boolean flag that's set to true where the transfer_volume is excessively high for a given day, i.e. >1e18

Sample Queries

1) Get the monthly stablecoin transfer metrics for all USD currencies in the last 24 months, excluding anomalies and using the Entity Adjusted, Single Direction Max Transfer methodology

select 
    date_trunc('month', activity_date) as month,
    sum(entity_adjusted_single_direction_max_transfer_tx_count) as num_transactions,
    sum(entity_adjusted_single_direction_max_transfer_volume_usd/pow(10,9)) as usd_volume_billions
from crosschain.metrics.stablecoin_volume
where 1=1
    and currency = 'usd' -- limit to USD currencies
    and transfer_volume_is_anomaly = false -- exclude high volume days, where total raw volume is >1e18
    and activity_date >= current_date - interval '24 months'
    and activity_date < date_trunc('month', current_date) -- exclude incomplete months
group by all
order by 1 desc

Last updated 7 days ago

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