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 |
---|---|
crosschain.stablecoin.list | Table of main stablecoins (inclusive of other currencies) and their respective contract addresses across various chains. |
crosschain.stablecoin.transfers | Transfers of all stablecoins indexed by Allium. Includes all stablecoins on crosschain.stablecoin.list |
crosschain.metrics.stablecoin_volume | 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
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
.
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.
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 |
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 |
Methodology | Column Name | Description |
---|---|---|
Single Direction Max Transfer | single_direction_max_transfer_volume | The adjusted total volume of stablecoin transfers (normalized), using the given methodology |
Single Direction Max Transfer | single_direction_max_transfer_volume_usd | The adjusted total volume of stablecoin transfers in USD terms, using the given methodology |
Single Direction Net Transfer | single_direction_net_transfer_volume | The adjusted total volume of stablecoin transfers (normalized), using the given methodology |
Single Direction Net Transfer | single_direction_net_transfer_volume_usd | The adjusted total volume of stablecoin transfers in USD terms, using the given methodology |
Entity Adjusted, Single Direction Max Transfer | entity_adjusted_single_direction_max_transfer_tx_count | The adjusted total amount of transactions with stablecoin transfers, using the given methodology |
Entity Adjusted, Single Direction Max Transfer | entity_adjusted_single_direction_max_transfer_volume | The adjusted total volume of stablecoin transfers (normalized), using the given methodology |
Entity Adjusted, Single Direction Max Transfer | entity_adjusted_single_direction_max_transfer_volume_usd | The adjusted total volume of stablecoin transfers in USD terms, using the given methodology |
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
https://app.allium.so/s/f2IsUx3F