Falcon Finance has introduced a new tool to ensure transparency of its assets backing USDf. The dashboard provides detailed information about the company's reserves.
Overview of the Transparency Dashboard
Falcon Finance's Transparency Dashboard was developed to display full transparency regarding the assets backing USDf. It presents a detailed breakdown of reserves by asset type, custody provider, and the percentage of on-chain assets. The data has been independently verified by auditors from HT Digital.
Components of USDf Reserves
According to the Dashboard, the total reserves exceed $708 million, resulting in an over-collateralization ratio of USD at 108%. The main assets in the reserves include $431 million in Bitcoin, $96 million in stablecoins, and $190 million consisting of various altcoins and non-crypto assets.
Reporting and Transparency Plans
Falcon Finance is committed to publishing quarterly reports that will be independently verified. These reports will provide public attestation of the company’s reserves and offer further insights into financial operations. Moreover, the new Dashboard allows Falcon users and third parties to access current information regarding the asset backing.
The introduction of the Transparency Dashboard marks a significant step for Falcon Finance towards ensuring trust and transparency in its operations, allowing users and investors to accurately track the support of their assets.
