Falcon Finance Launches New Transparency Dashboard Providing Full Transparency Into USDf Reserves
Synthetic dollar protocol Falcon Finance has announced the launch of a new Transparency Dashboard designed to provide full transparency into the assets backing USDf. The dashboard displays a detailed breakdown of USDf reserves by asset type, custody provider, and the percentage held onchain and has been independently verified by auditor HT Digital.
Falcon’s Transparency Dashboard reveals total reserves of over $708M, resulting in USD having an over-collateralization ratio that currently stands at 108%. This data shows that there are sufficient assets held in custody to cover the circulating supply of USDf, which has now reached $660M. The dashboard also provides detailed information on the composition of the assets Falcon holds in reserve. These comprise $431M of BTC and $96M of stablecoins, with the remainder, amounting to $190M, including various altcoins as well as non-crypto assets. Designed to demonstrate Proof of Reserves and to give users transparency into Falcon’s operations, the dashboard is updated regularly to show the latest metrics concerning its stablecoin protocol. In addition to showing the composition of assets Falcon holds, its dashboard includes a graph detailing the custodians holding them, which include Ceffu and Fireblocks, with the remainder held onchain. The full value of assets held by each custodian is displayed, giving 100% transparency into all of the reserves Falcon has on hand. Aside from BTC, stablecoins, and altcoins, Falcon holds smaller quantities of ETH and SOL as well as $100K of tokenized T-bills that are custodied with Fireblocks. Other data accessible within Falcon Finance’s new Transparency Dashboard includes the total supply of sUSDf, the yield-bearing version of the stablecoin, which provides stakers with a variable APY of 12.8%. The current supply of sUSDf stands at 289M, meaning around 44% of all USDf is presently staked. Falcon Finance has committed to publishing quarterly reports that are independently audited. These will provide public attestation of the reserves that Falcon holds and give even greater insights into its financial management. Falcon users as well as third parties can view the new Transparency Dashboard at Falcon Finance is a next-generation synthetic dollar protocol. Preserving users’ multi-assets with industry competitive yields across any market conditions, it sets a new standard in the industry, along with transparency, security, and institutional-grade risk management. Learn more:Disclaimer: This is sponsored content. The information on this page is not endorsed or supported by U.Today, and U.Today is not responsible or liable for any inaccuracies, poor quality, advertising, products or other materials found within the publication. Readers should do their own research before taking any actions related to the company. U.Today is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.Dogecoin Forms Double Bottom, Eyeing Rally to $0.46: Analyst
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