# FDUSD Supply Tracker: First Digital USD by Chain > First Digital USD (FDUSD) supply by chain, daily mints and redemptions, the share held on exchanges and its on-chain peg, including the April 2025 depeg. Markdown copy of https://voltfincrypto.com/apps/fdusd-supply-tracker **Question:** How much FDUSD is in circulation, where does it sit and has it held its peg? - Kind: Dashboard in Voltfin Vantage - Topic: [Stablecoins](https://voltfincrypto.com/topics/stablecoins) - Chains: Multi-chain, BNB Chain, Ethereum, Solana, Sui, Arbitrum - Status: Planned. The data is not published yet, so this page states no figure; each figure will open its receipt when it is. FDUSD is a dollar stablecoin issued by First Digital Labs in Hong Kong, with its reserves held by First Digital Trust. It launched in 2023 on Ethereum and BNB Chain, grew mostly as a trading pair on Binance and was later issued on Solana, Sui and Arbitrum. This dashboard reads its supply on each chain, its mints and redemptions and where it is held. Because FDUSD is used mainly for trading, the dashboard separates balances in labelled exchange wallets from everything else, so a change in supply can be read against trading demand. Redemptions are burns, read from the token contracts with their blocks, and the dollars paid out for them happen off-chain. In April 2025, FDUSD traded below its peg for a short time after public claims about its issuer, which First Digital denied. The peg page reads FDUSD's price from on-chain pools against USDT and USDC and shows the depth and length of every deviation, together with the redemptions that followed it. ## Blueprint ### Supply FDUSD supply by chain, mints and redemptions. - **FDUSD supply** (FDUSD): FDUSD supply across the covered chains at the latest day-end reads. - **Change, 30 days** (%): Change in supply against the same reads thirty days earlier. - **Minted, 30 days** (FDUSD): FDUSD minted over the last 30 days across chains. - **Redeemed, 30 days** (FDUSD): FDUSD burned on redemption over the same period across chains. - **Supply by chain** (FDUSD): FDUSD supply by chain by day since launch. - **Mints and redemptions by day** (FDUSD): FDUSD minted and redeemed by day and chain, with each transaction. ### Peg and holders FDUSD's on-chain price and the share held on exchanges. - **Price now** (USD): FDUSD's latest on-chain price against USDT and USDC, weighted by pool depth. - **Held on exchanges** (%): The share of FDUSD supply in labelled exchange wallets at the latest day-end block. - **Daily low and close** (USD): FDUSD's daily lowest and closing on-chain price, with every recorded deviation marked. - **Exchanges against other holders** (FDUSD): FDUSD held in labelled exchange wallets and in all other addresses, by day. Filters: Period (Last 30, 90 or 365 days or every day since launch). ## How it will be measured - Supply is FDUSD totalSupply() at the last block of the day on BNB Chain, Ethereum and Arbitrum, the mint's supply on Solana and the coin's total supply on Sui. - Mints and redemptions are transfers from and to the zero address on EVM chains and mint and burn records on Solana and Sui, each with its block or checkpoint. - Exchange balances are FDUSD held in addresses the address registry labels as exchange wallets at the same block; unlabelled addresses count as other holders. - The peg is FDUSD's price in its deepest on-chain pools against USDT and USDC, weighted by pool depth; a deviation counts only when it lasts beyond a set window. ## Data it needs - `stablecoin_supply_daily` (published): Native supply of each USD and EUR stablecoin on each covered chain at the chain's last block of each day, from totalSupply() reads, with bridged copies kept apart. - `stablecoin_flows_daily` (to build): Stablecoin mints, burns, transfer volume and active addresses per stablecoin and chain per day. - `exchange_balances_daily` (to build): Balances held in labelled exchange wallets per asset, chain and exchange at day end, and net flows in and out. - `stablecoin_pegs_daily` (to build): How far each stablecoin trades from its peg, from DEX pool prices and on-chain oracle feeds, with the deepest deviation of each day. - `token_holders_snapshot` (to build): Holder counts, top holders and concentration shares of registry tokens at a pinned block, with contract and exchange labels. - Source: FDUSD totalSupply() at day-end blocks on BNB Chain, Ethereum and Arbitrum - Source: FDUSD mint supply on Solana and total supply on Sui - Source: Transfers from and to the zero address, and Solana and Sui mint and burn records - Source: FDUSD balances of labelled exchange wallets at day-end blocks - Source: FDUSD pool prices against USDT and USDC on BNB Chain and Ethereum DEXs ## Questions ### What is FDUSD? First Digital USD is a dollar stablecoin issued by First Digital Labs, part of the Hong Kong-based First Digital group. It is meant to be redeemable one to one for US dollars and backed by cash and short-term US Treasuries held by First Digital Trust. ### Which chains is FDUSD on? FDUSD launched on Ethereum and BNB Chain and was later issued on Solana, Sui and Arbitrum. The dashboard reads each chain's supply on its own and adds them, with no chain counted twice. ### Why did FDUSD lose its peg in April 2025? On 2 April 2025, public claims that its issuer's trust company was insolvent led holders to sell, and FDUSD traded below a dollar on exchanges and in on-chain pools. First Digital denied the claims and kept processing redemptions, and the price returned toward its peg within days. ### Where is most FDUSD held? FDUSD is used mainly as an exchange trading pair, so exchange wallets are expected to hold much of it. The holders page measures that share directly at each pinned block, in labelled exchange wallets against all other addresses. ### How are FDUSD redemptions measured? A redemption burns tokens, so it appears on-chain as a transfer to the zero address or a burn record. The dashboard adds those burns by day and chain; the dollars paid out happen off-chain and are not shown. ## Glossary - **Redemption**: Returning stablecoins to the issuer for dollars; the tokens are burned and supply falls. - **Exchange wallet**: An address an exchange controls to hold customers' funds, labelled from public sources. - **Depeg**: A period when a stablecoin trades away from its peg for longer than a set window. ## Related apps - [Stablecoin Peg Tracker and Depeg History](https://voltfincrypto.com/apps/stablecoin-peg-depeg-tracker) - [Stablecoin Market Share by Issuer](https://voltfincrypto.com/apps/stablecoin-market-share-by-issuer) - [USDT and USDC Mint and Burn Tracker](https://voltfincrypto.com/apps/usdt-usdc-mint-burn-tracker) - [USD1 Stablecoin Supply by Chain](https://voltfincrypto.com/apps/usd1-supply-by-chain) - [Proof of Reserves Tracker: Exchange Wallet Balances](https://voltfincrypto.com/apps/proof-of-reserves-tracker) - [Stablecoin Market Cap and Total Supply](https://voltfincrypto.com/apps/stablecoin-market-cap) Build it in Voltfin Studio: https://app.voltfincrypto.com/signup?next=%2F