Can you verify Falcon USD (USDf) reserves yourself?
USDf's reserves sit off-chain, so you read a third-party attestation of them rather than the accounts themselves.
Overcollateralized synthetic dollar backed by a BTC-heavy reserve held almost entirely with custodians (ChainUp, Fireblocks, Ceffu, Binance, per Falcon's own transparency API). Disclosed through a daily dashboard, weekly reserve attestation letters by HT Digital Ltd (the Harris & Trotter affiliated digital-assets firm), and quarterly ISAE 3000 reasonable-assurance reports, one of the stronger attestation cadences in the field. Only about 1.3% of reserves are labeled on-chain by Falcon's own API; the rest you read as an attestation.
What you cannot verify yourself: Roughly 99% of the reserve portfolio, visible only through HT Digital's weekly letters and quarterly ISAE 3000 reports. Falcon's June 2026 recap headlines a 103.32% backing ratio while its live API computed 102.59% on July 1, 2026; both are issuer-published figures you read, not numbers you can re-derive.
Hedge leg: The yield book (about 61% options strategies and 21% funding-rate farming and staking, per Falcon's June 2026 recap) runs on off-chain venues and custodians, confirmed by attestation you trust rather than data you re-derive.
Falcon's USDf on Ethereum is unrelated to the USDF Consortium's bank token, and Falcon's institutional fUSD (a separate token with monthly Deloitte attestations) is not USDf. Official USDf deployments also exist on BNB Chain and XDC; there is no Base deployment as of July 1, 2026.
Issued by Falcon Finance. "Attestor-required" describes the structure of the verification, not the quality of the issuer.
Run this on USDf 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 USDf supply on Ethereum, about 1.26B on July 1, 2026, matching Falcon's dashboard and the June 29, 2026 HT Digital letter, plus sUSDf's on-chain ERC-4626 vault ratio.
Reproduce the supply read yourself
cast call 0xfa2b947eec368f42195f24f36d2af29f7c24cec2 "totalSupply()(uint256)" --rpc-url https://ethereum-rpc.publicnode.comcast call 0xfa2b947eec368f42195f24f36d2af29f7c24cec2 "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":"0xfa2b947eec368f42195f24f36d2af29f7c24cec2","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 synthetic delta-neutral 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 USDf is not an endorsement. Reserve-transparency descriptions are sourced from Falcon Finance'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 Falcon Finance or any attestor named here. Page reviewed 2026-07-03. Last updated July 3, 2026.