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.
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.
What you cannot verify yourself: 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.
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.
Issued by Apyx. "Partly attestor-required" describes the structure of the verification, not the quality of the issuer.
Run this on apxUSD yourself, or get a signed record of it.
The read below is free and live. 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.
Signed 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. Issuing a dollar of your own? The GENIUS-readiness kit is $999 setup then $99 a month. Not compliance and not an audit.
Live supply, and the command that reproduces it
What this read establishes: 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.
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.
Other rwa-backed tokens
Also: the reserve transparency scorecard, the Stablecoin Reserve Recomputation Report, every stablecoin we cover, 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 3, 2026; verify at the canonical sites. Kerne is not affiliated with Apyx or any attestor named here. Page reviewed 2026-07-03. Last updated July 3, 2026.