Proof of Reserves
Real-time visibility into USDM's reserve backing. Every token is verifiable on-chain, every dollar is accountable.
Live Reserve Data
Unlike bridged stablecoins, USDM reserves are verified directly on-chain through a decentralized oracle network, not through periodic third-party attestations. Anyone can audit the reserve ratio in real time, trustlessly.
How Verification Works
USDM uses a decentralised oracle network native to Cardano. Unlike other stablecoins that rely on periodic audits by accountants, USDM reserve verification is cryptographically enforced on-chain and updated daily.
USD Deposited
Institutional minters deposit USD into Moneta's reserve accounts held at regulated US financial institutions.
Oracle Reads Reserve
A decentralized oracle network reads the verified reserve balance and posts it on-chain to the Cardano blockchain via a signed feed.
On-Chain Verification
USDM can only be minted up to the on-chain verified reserve amount. The smart contract enforces this constraint trustlessly.
Public Auditability
Anyone can verify the reserve ratio at any time by reading the on-chain reserve feed on Cardano mainnet. No trust required.
Reserve Custodians
Fidelity Investments
Money Market Custodian
Government Money Market Fund (SPAXX), AAA rated
Western Asset Management
Money Market Custodian
Western Asset Money Market Fund, institutional grade
US Regulated Banks
USD Deposits
FDIC-insured accounts at regulated US financial institutions
Questions about our reserves or verification methodology?