# Stablechain Tracker: Plasma, Tempo, Arc and Stable

> Stablechains compared: stablecoin supply, daily transfers, active senders and fees on Plasma, Tempo, Arc and Stable, the chains built for stablecoin payments.

Markdown copy of https://voltfincrypto.com/apps/stablechain-tracker

**Question:** How much stablecoin supply and payment activity do Plasma, Tempo, Arc and Stable have?

- Kind: Dashboard in Voltfin Vantage
- Topic: [Payments](https://voltfincrypto.com/topics/payments)
- Chains: Multi-chain, Plasma, Tempo, Arc
- Status: Planned. The data is not published yet, so this page states no figure; each figure will open its receipt when it is.

Stablechains are blockchains built around stablecoins: fees are paid in a stablecoin or waived for simple transfers, and the chain is tuned for payments rather than trading. This tracker measures whether Plasma, Tempo, Arc and Stable are being used, with the same four measures on each: stablecoin supply, transfers, distinct senders and the fees users paid.

Each chain makes different design choices. Plasma sponsors the fees of simple USDT0 transfers through a protocol paymaster, Tempo lets users pay fees in a choice of stablecoins, Arc uses USDC as its gas token and Stable pays gas in USDT. The tracker records those choices beside the figures, because a free transfer and a paid one are not the same activity.

Supply is read from the token contracts at each day's last block, and activity from the chains' own blocks and transfer events, so every figure can be checked against the chain it came from.

## Blueprint

### Supply

Stablecoin supply on each stablechain, side by side.

- **Stablecoins on Plasma** (USD): Native USD stablecoin supply on Plasma at the latest day-end block, USDT0 included.
- **Stablecoins on Tempo** (USD): USD stablecoin supply in TIP-20 tokens on Tempo at the latest day-end block.
- **Stablecoins on Arc** (USD): USD stablecoin supply on Arc at the latest day-end block, USDC included.
- **Stablecoins on Stable** (USD): USD stablecoin supply on Stable at the latest day-end block, USDT0 included.
- **Supply by chain over time** (USD): Stablecoin supply on each of the four chains at each day-end block, stacked, from each chain's launch.

### Usage

Transfers, senders and fees on each chain.

- **Transfers, latest day** (count): Stablecoin transfers on the four chains on the latest complete day, split by chain.
- **Senders, latest day** (count): Distinct addresses that sent a stablecoin on each chain on the latest complete day.
- **Fee-free transfer share** (%): The share of stablecoin transfers whose fee was sponsored or zero, per chain, on the latest complete day.
- **Median fee per transfer** (USD): The median fee paid per stablecoin transfer on each chain on the latest complete day, in the token paid.
- **Transfers and senders by day** (count): Daily stablecoin transfers and distinct senders on each chain over the selected period.

Filters: Chain (Plasma, Tempo, Arc, Stable or all four); Period (Last 30 days, quarter or year).

## How it will be measured

- Stablecoin supply is totalSupply() of each stablecoin on each chain at the last block of the UTC day, such as USDT0 on Plasma and Stable and USDC on Arc; Tempo's TIP-20 stablecoins are read the same way.
- Transfers and distinct senders are counted from Transfer events per day, with legs into and out of bridges and exchanges labelled so payment-like flows can be told apart.
- Fees are each transaction's fee in the token it was paid in; transfers whose fee a paymaster sponsored count as fee-free and are shown as their own share.
- The four chains are measured with the same definitions, and each chain joins the charts from its mainnet launch.

## 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.
- `chain_activity_daily` (to build): Transactions, active sending addresses, new addresses, contracts created and gas used on each chain per day, counted from blocks and transactions.
- `chain_fees_daily` (to build): Fees paid per chain per day in the native token: base fee and priority fee percentiles, total fees, and the share burned where the chain burns fees.
- `payments_volume_daily` (to build): Stablecoin payment flows that look like payments rather than trading: merchant and payroll transfers, card settlements and remittance corridors, per chain and day.
- Source: Plasma: USDT0 totalSupply() at daily blocks, Transfer logs and transfers sponsored by the protocol paymaster
- Source: Tempo: TIP-20 stablecoin totalSupply and Transfer events, and the fee token and fee amount of each transaction
- Source: Arc: USDC supply and Transfer logs, and gas fees paid in USDC per day
- Source: Stable: USDT0 totalSupply and Transfer logs, and gas fees paid in USDT
- Source: Daily transactions and distinct senders per chain from each chain's blocks

## Questions

### What is a stablechain?

A blockchain designed around stablecoins, usually with fees paid in a stablecoin or sponsored for simple transfers, fast finality and features aimed at payments. Plasma, Tempo, Arc and Stable are examples.

### How do Plasma, Tempo, Arc and Stable differ?

Mainly in who backs them and how fees work. Plasma centers on USDT0 and sponsors simple transfers; Stable, also built around USDT, pays gas in it; Arc, from Circle, pays gas in USDC; Tempo, incubated by Stripe and Paradigm, accepts fees in several stablecoins.

### Are fee-free transfers counted as activity?

Yes, and they are shown as their own share. A transfer whose fee a paymaster sponsors is still a transfer between two addresses, but it costs the sender nothing, which can invite activity that a paid chain would not see.

### How does stablechain activity compare with Tron or Ethereum?

The payments apps measure general-purpose chains with the same definitions, so the stablechains' supply and transfers can be set beside USDT on Tron and stablecoins on Ethereum without mixing methods.

## Glossary

- **Stablechain**: A blockchain built around stablecoins, typically with stablecoin-denominated or sponsored fees.
- **Paymaster**: A contract or protocol account that pays a transaction's fee on the sender's behalf.
- **USDT0**: The omnichain form of USDT, moved between chains through LayerZero by locking USDT on Ethereum and minting it elsewhere.
- **TIP-20**: Tempo's token standard for stablecoins, compatible with ERC-20 and built into the chain itself.

## Related apps

- [Stablecoin Payments by Transfer Size and Chain](https://voltfincrypto.com/apps/stablecoin-payments-by-transfer-size)
- [USDT Transfer Fees by Chain](https://voltfincrypto.com/apps/usdt-transfer-fees-by-chain)
- [Stablecoin Market Cap and Total Supply](https://voltfincrypto.com/apps/stablecoin-market-cap)
- [USDT on Tron: Supply and Daily Transfers](https://voltfincrypto.com/apps/usdt-on-tron)
- [Polygon Stablecoin Payments: Volume, Senders and Sizes](https://voltfincrypto.com/apps/polygon-stablecoin-payments)
- [Stablecoin Contract Addresses: USDT, USDC and More by Chain](https://voltfincrypto.com/apps/stablecoin-contract-addresses)

Build it in Voltfin Studio: https://app.voltfincrypto.com/signup?next=%2F