Can you verify apxUSD (apxUSD) reserves yourself?
You can read part of apxUSD's backing on-chain yourself; the rest rests on an off-chain layer you take on an attestation. Do not trust the issuer, and do not trust us. This page reads apxUSD's live supply straight from the chain and shows you, honestly, where verification ends and trust begins.
Issued by Apyx. It is not an audit, a rating, or a solvency opinion, and apxUSD appearing here is not an endorsement. "Partly attestor-required" describes the structure of the verification, not the quality of the issuer.
The part you can always verify: live supply
Total supply is a contract function anyone can call. Below is apxUSD read live from the chain, with the exact command to reproduce it. This is the one number you never have to take on faith.
Reproduce the supply read yourself
cast call 0x98a878b1cd98131b271883b390f68d2c90674665 "totalSupply()(uint256)" --rpc-url https://ethereum-rpc.publicnode.comcast call 0x98a878b1cd98131b271883b390f68d2c90674665 "symbol()(string)" --rpc-url https://ethereum-rpc.publicnode.comPrefer curl? Show the raw JSON-RPC call
curl -s -X POST https://ethereum-rpc.publicnode.com -H 'content-type: application/json' --data '{"jsonrpc":"2.0","id":1,"method":"eth_call","params":[{"to":"0x98a878b1cd98131b271883b390f68d2c90674665","data":"0x18160ddd"},"latest"]}'Reproduce the supply read yourself
cast call 0xd993935e13851dd7517af10687ec7e5022127228 "totalSupply()(uint256)" --rpc-url https://mainnet.base.orgcast call 0xd993935e13851dd7517af10687ec7e5022127228 "symbol()(string)" --rpc-url https://mainnet.base.orgPrefer curl? Show the raw JSON-RPC call
curl -s -X POST https://mainnet.base.org -H 'content-type: application/json' --data '{"jsonrpc":"2.0","id":1,"method":"eth_call","params":[{"to":"0xd993935e13851dd7517af10687ec7e5022127228","data":"0x18160ddd"},"latest"]}'Live supply is read from the chain and cached hourly on this page; the command above is real-time. Always confirm you are reading the canonical contract address. A look-alike token can copy any name or symbol; only the address is identity.
The harder question: can you verify apxUSD's reserves?
A synthetic dollar designed to be overcollateralized (over 100% collateralized, per Apyx) by mostly off-chain preferred shares, majority Strategy STRC (a variable-rate perpetual preferred), plus other treasury-company preferreds, T-bills and cash. Apyx's own docs say apxUSD is designed to trade between a redemption-value floor and total collateral value, not at a fixed $1, so its sub-dollar price mirrors collateral trading below par rather than a broken promise. Transparency is three-layered: an in-app dashboard, a live Accountable zero-knowledge proof of reserves running since April 2026, and monthly examination-level attestations by Wolf & Company, a PCAOB-registered firm. Part of the collateral (tokenized STRCX) is visible on-chain.
apxUSD is a net-asset-value tracker by design, not a fixed $1 peg, per Apyx's own documentation. It is not apyUSD, Apyx's separate yield token, and not APX.
On-chain apxUSD and apyUSD supply on Ethereum and Base, the tokenized STRCX position visible on-chain (roughly 14-17% of backing per Yearn's May 2026 assessment), and DEX prices: apxUSD traded near $0.87 on July 1, 2026 after a June 26 all-time low near $0.70, consistent with its below-par collateral.
The majority of the collateral: off-chain US preferred shares and cash at brokers and custodians whose addresses are deliberately not disclosed, visible only through the Wolf & Company attestations and the Accountable enclave pipeline. Direct redemption is whitelisted, the token is an upgradeable proxy, and the rate oracle admin can reset the redemption rate with no delay, per Yearn's public risk assessment.
Part of the backing is readable on-chain; the rest rests on an off-chain layer you take on an attestation. apxUSD already lets you read part of the backing yourself; the attestor-required portion is the off-chain layer named above.
See how apxUSD sits next to the rest of the field on the reserve transparency scorecard, or run this same read on any other token with Verify Any Stablecoin.
Common questions about apxUSD
Can you verify apxUSD (apxUSD) reserves yourself?
You can read part of apxUSD's backing on-chain yourself; the rest rests on an off-chain layer you take on an attestation. On-chain apxUSD and apyUSD supply on Ethereum and Base, the tokenized STRCX position visible on-chain (roughly 14-17% of backing per Yearn's May 2026 assessment), and DEX prices: apxUSD traded near $0.87 on July 1, 2026 after a June 26 all-time low near $0.70, consistent with its below-par collateral. The majority of the collateral: off-chain US preferred shares and cash at brokers and custodians whose addresses are deliberately not disclosed, visible only through the Wolf & Company attestations and the Accountable enclave pipeline. Direct redemption is whitelisted, the token is an upgradeable proxy, and the rate oracle admin can reset the redemption rate with no delay, per Yearn's public risk assessment. On-chain supply is something you can always read yourself; the reserves are where the trust boundary sits, and this page shows exactly where.
Who attests apxUSD's reserves?
A synthetic dollar designed to be overcollateralized (over 100% collateralized, per Apyx) by mostly off-chain preferred shares, majority Strategy STRC (a variable-rate perpetual preferred), plus other treasury-company preferreds, T-bills and cash. Apyx's own docs say apxUSD is designed to trade between a redemption-value floor and total collateral value, not at a fixed $1, so its sub-dollar price mirrors collateral trading below par rather than a broken promise. Transparency is three-layered: an in-app dashboard, a live Accountable zero-knowledge proof of reserves running since April 2026, and monthly examination-level attestations by Wolf & Company, a PCAOB-registered firm. Part of the collateral (tokenized STRCX) is visible on-chain. The reserve figure runs through Wolf & Company (monthly examination-level attestations) plus Accountable (live zero-knowledge proof of reserves), which is a legitimate, common model. You read that attestation rather than the underlying accounts. This is a structural fact about the verification, not a judgment on the issuer.
Which apxUSD contract is canonical, and does the chain matter?
apxUSD is a rwa-backed token issued by Apyx, deployed on Ethereum (0x98a878b1cd98131b271883b390f68d2c90674665) and Base (0xd993935e13851dd7517af10687ec7e5022127228). A look-alike token can copy any name or symbol, so only the address is identity: confirm you are reading the canonical contract above before trusting any supply or reserve figure. apxUSD is a net-asset-value tracker by design, not a fixed $1 peg, per Apyx's own documentation. It is not apyUSD, Apyx's separate yield token, and not APX.
Run this on apxUSD yourself, or get a signed record of it.
The check above is free and live. Paste apxUSD's address into the free tool to read it interactively, or get a machine-signed, point-in-time read of this exact address in about two minutes, that anyone you forward it to can verify in three lines without trusting you.
The $29 read is signed instantly on the page after you pay in USDC on Base: no email, no wait. It signs public on-chain bytes only (supply, decimals, and symbol at a block), not a solvency opinion and not a claim about who controls the address.
Other rwa-backed tokens
Or browse every stablecoin we cover, each with its own live read and verdict, or paste any address into the free tool.
Kerne is infrastructure and a service provider, not an auditor, a rating agency, a custodian, or an investment adviser. This page reads public on-chain data and names publicly disclosed transparency methods. It is not an audit, a solvency or credit opinion, a recommendation, or any form of investment, legal, tax, or accounting advice, and the appearance of apxUSD is not an endorsement. Reserve-transparency descriptions are sourced from Apyx's public disclosures and, where the token is listed there, the Kerne synthetic-dollar scorecard, cross-verified June 29 to July 1, 2026; verify at the canonical sites. Kerne is not affiliated with Apyx or any attestor named here. Page reviewed 2026-07-01. Last updated July 1, 2026.