Robinhood publishes, for each stock token, that day’s mint and burn volume. It sits beside the quote and the halt flag in what the issuer reports. It is easy to confuse with flow. They are related and they are not the same measurement.
Two ways to count the same events
Mints add tokens. Burns remove them. There are two natural ways to summarize a day of both.
One is to count how much happened. That is a volume. It describes activity, and it grows with every mint and every burn.
The other is to take the difference. Mints less burns is the net change in supply, which is flow. It describes the result. The plain mechanics of the two events are in mint and burn in plain terms.
Why both are worth having
A token can have an active day and a flat one at once. If tokens were minted in the morning and a similar amount redeemed in the afternoon, the day was busy and net flow is near zero. Flow alone would call it quiet. The mint and burn figure shows that it was not.
The reverse case is cleaner. A day where the published figure and the net supply change are about the same size was one-directional. Nearly everything that happened pushed the same way.
So the pair gives a rough sense of how two-sided the day was. Volume well above net flow means creation and redemption both took place. Volume close to net flow means one of them dominated.
Two sources, read side by side
The published figure comes from the issuer. Net flow, as NoVo shows it, comes from reading the contract’s supply at two times and subtracting. They are independent readings of the same underlying events.
They need not match to the digit. They can cover slightly different windows, and one is the issuer’s own count while the other is a measurement from outside. How the issuer defines its figure is the issuer’s to say. Large disagreement between the two is a reason to look closer. It does not prove that either is wrong.
Scale and window
A raw volume means little without a size beside it. Compare the day’s mint and burn with the token’s total supply to see what share of the token turned over at the issuer. Robinhood also publishes the stock’s own volume for the day. Beside that figure, the on-chain activity in almost any name is small today.
The figure also covers the current day. Robinhood publishes no history, so yesterday’s number is not available once today’s has begun. Reading whether today is unusual needs earlier days, and those exist only where they were recorded, as stock token history is collected live explains.
On a weekend the figure can be expected to be quiet. Supply did not change over the weekend of 3 to 4 October 2026.
What it does not say
It does not identify who minted or why. It is not trading volume either. Tokens changing hands between holders or through a pool do not touch it. That distinction is the one drawn in shares on-chain: what mint and redeem flow tells you.
Where to see it
The Stocks On-Chain tab of the Crypto Market Map shows mint and burn today for each stock token, next to flow over a day and a week.