# USD1 Stablecoin Supply by Chain

> USD1 stablecoin supply by chain: BNB Chain, Ethereum, Solana, Tron and Aptos, daily mints and burns, cross-chain moves and the share held by top holders.

Markdown copy of https://voltfincrypto.com/apps/usd1-supply-by-chain

**Question:** How much USD1 circulates, on which chains is it issued and who holds it?

- Kind: Dashboard in Voltfin Vantage
- Topic: [Stablecoins](https://voltfincrypto.com/topics/stablecoins)
- Chains: Multi-chain, BNB Chain, Ethereum, Solana, Tron, Aptos
- Status: Planned. The data is not published yet, so this page states no figure; each figure will open its receipt when it is.

USD1 is the dollar stablecoin of World Liberty Financial, launched in 2025 on Ethereum and BNB Chain, with its reserves held in custody by BitGo Trust Company. It has since been issued on Solana, Tron, Aptos and other chains. This dashboard reads USD1 supply on each chain from its token contracts, so a reader can see where it is issued and where it is growing.

USD1's supply can be concentrated in a small number of addresses, including exchange wallets and the contracts of large holders, so the dashboard measures concentration as closely as supply: the share held by the largest addresses, labelled where public sources identify them. A stablecoin held by a few large holders behaves differently from one held by many.

USD1 moves between chains through Chainlink's cross-chain interoperability protocol, CCIP. Tokens leaving one chain are taken out of supply there and issued on the other, so a move between chains is not new supply. Issuer mints and burns are shown apart from those moves, so the daily changes show only dollars coming in or going out.

## Blueprint

### Supply

USD1 supply by chain, and issuer mints and burns.

- **USD1 supply** (USD1): USD1 supply across the covered chains at the latest day-end reads.
- **Largest chain's share** (%): The share of supply on the chain that holds the most USD1, and which chain it is.
- **Minted, 30 days** (USD1): USD1 minted by the issuer over the last 30 days, with moves between chains left out.
- **Burned, 30 days** (USD1): USD1 burned by the issuer over the same period, with moves between chains left out.
- **Supply by chain** (USD1): USD1 supply by chain by day, read from each chain's token records.
- **Mints, burns and cross-chain moves** (USD1): Issuer mints and burns by day, with CCIP moves between chains shown as their own series.

### Holders

How concentrated USD1 is, and who the largest holders are.

- **Held by the ten largest** (%): The share of supply held by the ten largest addresses across chains at the latest pinned block.
- **Held on exchanges** (%): The share of supply held in labelled exchange wallets at the same block.
- **Largest holders**: The largest USD1 holders with balance, chain and label where a public source supports one.
- **Holders by day** (count): Addresses holding USD1 by day on each chain, beside the share held by the ten largest.

Filters: Chain (All chains, or one of BNB Chain, Ethereum, Solana, Tron and Aptos); Period (Last 30, 90 or 365 days).

## How it will be measured

- Supply is USD1 totalSupply() at the last block of the day on BNB Chain and Ethereum, the mint's supply on Solana, the TRC-20 total on Tron and the fungible asset's supply on Aptos.
- Issuer mints and burns are transfers from and to the zero address that do not match a cross-chain message; CCIP token pool events identify the moves between chains.
- Concentration is the share of each chain's supply held by its largest addresses at a pinned block, from balances rebuilt from transfers and checked against balanceOf.
- Exchange and contract holders are labelled from the address registry, and an address without a public source stays unlabelled.

## 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.
- `token_holders_snapshot` (to build): Holder counts, top holders and concentration shares of registry tokens at a pinned block, with contract and exchange labels.
- `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.
- `bridge_flows_daily` (to build): Deposits into and withdrawals out of canonical and major third-party bridges by chain, token and day, plus escrow balances at day end.
- Source: USD1 totalSupply() at day-end blocks on BNB Chain and Ethereum
- Source: USD1 supply on Solana, Tron and Aptos from each chain's token records
- Source: Transfers from and to the zero address on each chain
- Source: Chainlink CCIP token pool events for USD1 moves between chains
- Source: Balances of the largest holders at a pinned block, checked with balanceOf

## Questions

### What is USD1?

USD1 is a dollar stablecoin from World Liberty Financial. It is meant to be redeemable one to one for US dollars and backed by short-term US Treasuries, dollar deposits and other cash equivalents, with reserves held by BitGo Trust Company.

### Which chains is USD1 on?

USD1 launched on Ethereum and BNB Chain and has since been issued on Solana, Tron, Aptos and other chains. The dashboard reads every chain it covers on its own and shows a chain it does not yet read as a gap rather than a zero.

### How does USD1 move between chains?

Through Chainlink CCIP, which World Liberty Financial chose as USD1's cross-chain standard. Tokens are taken out of supply on the chain they leave and issued on the chain they arrive at, so the total across chains does not change.

### Why does USD1 supply jump on some days?

Large mints usually follow large dollar deposits by a single customer, such as an exchange or a fund settling a deal in USD1. The dashboard lists each mint with its block and the address that received it.

### How concentrated is USD1?

The holders page shows the share of supply held by the largest addresses on each chain, with labels for exchanges and protocol contracts where public sources support them. A high share means a few holders can move supply quickly.

## Glossary

- **CCIP**: Chainlink's Cross-Chain Interoperability Protocol, which USD1 uses to move between chains.
- **Concentration**: The share of a token's supply held by its largest addresses.

## Related apps

- [Stablecoin Market Share by Issuer](https://voltfincrypto.com/apps/stablecoin-market-share-by-issuer)
- [PYUSD Supply by Chain: PayPal USD On-Chain](https://voltfincrypto.com/apps/pyusd-supply-by-chain)
- [New Stablecoin Launches Tracker](https://voltfincrypto.com/apps/new-stablecoin-launches)
- [Stablecoin List Ranked by Circulating Supply](https://voltfincrypto.com/apps/stablecoin-list-by-circulating-supply)
- [GENIUS Act Stablecoin Tracker](https://voltfincrypto.com/apps/genius-act-stablecoin-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
