Description

The AmberLens Real-World Assets dashboard covers various assets tokenized on Ethereum. These dashboards currently cover BlackRock: BUIDL, Ondo: OUSG, Matrixdock: STBT, Backed: IB01, Hashnote: USYC, OpenEden: TBILL, Maple: MPLcashUSDC, Superstate: USTB.

Use Case

Traders
For traders, the appeal of tokenized treasuries lies in their enhanced liquidity, faster settlement times, and the potential for broader market participation. These factors can lead to more pronounced price movements and opportunities for profit. Additionally, the ability to engage in fractional ownership allows traders to execute more diversified and flexible trading strategies with potentially lower capital requirements.

Researchers
Researchers focus on understanding the deeper implications and the evolving landscape of blockchain-based financial instruments like tokenized treasuries. For researchers, tokenized treasuries offer a rich field for exploring how blockchain technology can enhance the efficiency, transparency, and accessibility of government bonds. They are particularly interested in the potential for innovation, such as programmable features and smart contracts, and how these advancements could reshape public finance, monetary policy, and investor behavior in the long term.

Analysts
Analysts, particularly those working within financial institutions or advisory roles, evaluate tokenized treasuries to provide investment advice and strategic insights to their clients or employers. Their analysis focuses on risk assessment, market trends, and the long-term value proposition of incorporating tokenized treasuries into investment portfolios. Analysts are interested in how tokenization affects factors like market liquidity, regulatory developments, and the integration of digital assets into traditional financial markets. Their goal is to determine how tokenized treasuries can fit into diversified investment strategies to enhance returns, manage risk, and capitalize on the digital transformation of financial assets.

Methodology

Indexed contract addresses:

0x7712c34205737192402172409a8f7ccef8aa2aec: BUIDL

0x43415eb6ff9db7e26a15b704e7a3edce97d31c4e: USTB

0x1b19c19393e2d034d8ff31ff34c81252fcbbee92: OUSG

0x136471a34f6ef19fe571effc1ca711fdb8e49f2b: USYC

0x530824da86689c9c17cdc2871ff29b058345b44a: STBT

0xca30c93b02514f86d5c86a6e375e3a330b435fb5: ID01

0xdd50c053c096cb04a3e3362e2b622529ec5f2e8a: TBILL

Market cap: To calculate market cap, we create a daily cumulative sum of total tokens issued minus tokens redeemed. This will give us the total supply. Next, if the protocol provides an oracle contract we get the last known price and multiply that by supply. If no oracle contract exists we assume a $1 price.

Unique Holders: Using the token transfer data we calculate the number of distinct wallets that held a balance greater than 0 each day.

Top Holders: We calculate the balance of all current holders using the token transfer data.