Can you verify Liquity USD (LUSD) reserves yourself?
LUSD's backing is crypto collateral held on-chain, readable directly on a block explorer, with no attestor in the reserve path. Do not trust the issuer, and do not trust us. This page reads LUSD's live supply straight from the chain and shows you, honestly, where verification ends and trust begins.
Issued by Liquity. It is not an audit, a rating, or a solvency opinion, and LUSD appearing here is not an endorsement. "Attestor-optional" 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 LUSD 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 0x5f98805a4e8be255a32880fdec7f6728c6568ba0 "totalSupply()(uint256)" --rpc-url https://ethereum-rpc.publicnode.comcast call 0x5f98805a4e8be255a32880fdec7f6728c6568ba0 "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":"0x5f98805a4e8be255a32880fdec7f6728c6568ba0","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 LUSD's reserves?
Borrowed against ETH collateral in immutable, governance-free Liquity contracts. The entire backing is ETH held on-chain, fully readable, with no off-chain reserve and no attestor.
On-chain supply and the full ETH collateral backing it, all readable on-chain. There is no off-chain leg.
Nothing off-chain backs LUSD. The residual risk is smart-contract risk in the immutable, governance-free Liquity contracts and the price of the ETH collateral, not attestor trust.
The reserve backing is readable on-chain, so a third-party attestor is optional on that leg. LUSD is on the strong end of this axis for its reserve leg. That is not the same as risk-free; the standing risks are smart-contract and collateral risk, not attestor trust.
See how LUSD 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 LUSD
Can you verify Liquity USD (LUSD) reserves yourself?
LUSD's backing is crypto collateral held on-chain, readable directly on a block explorer, with no attestor in the reserve path. On-chain supply and the full ETH collateral backing it, all readable on-chain. There is no off-chain leg. Nothing off-chain backs LUSD. The residual risk is smart-contract risk in the immutable, governance-free Liquity contracts and the price of the ETH collateral, not attestor trust. On-chain supply is something you can always read yourself; the reserves are where the trust boundary sits, and this page shows exactly where.
Does LUSD rely on a third-party attestor for its reserves?
Borrowed against ETH collateral in immutable, governance-free Liquity contracts. The entire backing is ETH held on-chain, fully readable, with no off-chain reserve and no attestor. There is no third-party attestor in the reserve path: the backing is readable on-chain, so On-chain supply and the full ETH collateral backing it, all readable on-chain. There is no off-chain leg. The residual risk is smart-contract and collateral risk, not attestor trust.
Which LUSD contract is canonical, and how do I confirm I have the right one?
LUSD is a crypto-collateralized token issued by Liquity at 0x5f98805a4e8be255a32880fdec7f6728c6568ba0 on Ethereum. 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.
Run this on LUSD yourself, or get a signed record of it.
The check above is free and live. Paste LUSD'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 crypto-collateralized 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 LUSD is not an endorsement. Reserve-transparency descriptions are sourced from Liquity'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 Liquity or any attestor named here. Page reviewed 2026-07-01. Last updated July 1, 2026.