Stably recognizes that a fiat-backed stablecoin requires a high standard of public transparency for consumers and businesses to build trust. Learn more about how Stably has been laying the groundwork with the proper preparation, regulation, and transparency to effectively address counterparty risks for our stablecoin.
To provide a complete and up-to-date level of transparency on our reserve, Stably will provide a view of our reserve balance in real-time, via a live feed from the API of our reserve holder, Prime Trust. This is available on our platform.
We provide two pieces of information through our platform, which can be found at https://usds.stably.io/home. The first is how much USDS we have in circulation, based on our smart contract. The second is how much USD our trustee has in their reserve. You will notice at times, we will have more USD than USDS — this is because Stably burns USDS before we wire money for any redemption request, so in the time it takes for a user to receive their wire, Stably Dollar will be overcollateralized.
Leading third-party auditor, Cohen & Co., will also provide regular attestations on our reserve balance. An attestation on our initial balance can be found here. Additionally, you can find a link to our smart contract and Ethereum transaction history for USDS here.