Identify Currency Peg
As a Stablecoin Auditor, I need to quickly identify the underlying currency peg of various stablecoins by extracting the first three letters from their ticker symbols. For example, from 'USDT' I need 'USD', from 'EURT' I need 'EUR', and from 'GBPT' I need 'GBP'. This helps in verifying the asset backing and categorizing stablecoin portfolios.
=LEFT(A2,3) How it works: The LEFT function extracts a specified number of characters from the beginning (left side) of a text string. In this scenario, `A2` refers to the cell containing the stablecoin ticker (e.g., 'USDT'), and `3` specifies that we want to extract the first three characters. This is a common convention where the first three characters of a stablecoin ticker represent its pegged currency (e.g., 'USD', 'EUR', 'GBP'), allowing auditors to quickly identify and verify the peg.
Data Setup
| Stablecoin Ticker | Extracted Peg |
|---|---|
| USDT | |
| EURT | |
| GBPT | |
| JPYC | |
| CHFT |
Step-by-Step Guide
Select the cell where you want the extracted currency peg to appear (e.g., B2).
Type the formula `=LEFT(A2,3)` into the selected cell.
Press Enter to see the result.
Drag the fill handle (the small square at the bottom-right of the selected cell) down to apply the formula to other stablecoin tickers in your dataset.