Falcon Finance, a platform for a new kind of synthetic dollar, has just launched a Transparency Page. This page gives users a clear look at the assets backing their USDf, a synthetic dollar that’s over-collateralized.
What’s on the Dashboard?
The dashboard shows real-time data on important things like:
- Total Reserves
- Protocol Backing Ratio
- Reserves held by third-party custodians
- Reserves on centralized exchanges
- On-chain reserves in liquidity pools
- On-chain reserves in staking pools
The page breaks down exactly where the backing assets are held – with third-party custodians, exchanges, and in various on-chain pools.
Security Measures
Falcon Finance uses multi-party computation (MPC) wallets through Fireblocks and Ceffu to keep most of its reserves safe. These assets are stored in off-exchange accounts, with trading activity mirrored on exchanges like Binance and Bybit. This setup minimizes risk. While some assets are on Binance and Bybit for trading, the majority remain securely held by Falcon Finance’s custodians. Some reserves are also strategically used in liquidity and staking pools to generate yield.
Audits and Proof of Reserves
The Transparency Page also includes an “Attestation” section with links to third-party audit reports and quarterly Proof of Reserves statements from firms like Zellic and Pashov Audit Group. These reports will be updated every quarter.
Growth and Future Plans
Andrei Grachev, Managing Partner of Falcon Finance, stated that the Transparency Page is part of their commitment to security and transparency, even in volatile markets. Since its closed beta, Falcon Finance has seen over $200 million in total value locked. Users can mint USDf using various assets, including stablecoins (USDC, USDT) and others like Bitcoin, Ethereum, Solana, and TON. The new page aims to verify that every USDf is fully backed.
About Falcon Finance
Falcon Finance is a platform for a new type of synthetic dollar designed for sustainable yield, even in changing market conditions. It uses strong risk management and transparency.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing./p>