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. Do not trust the issuer, and do not trust us. This page reads USDf's live supply straight from the chain and shows you, honestly, where verification ends and trust begins.
Issued by Falcon Finance. It is not an audit, a rating, or a solvency opinion, and USDf appearing here is not an endorsement. "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 USDf 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 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.
The harder question: can you verify USDf's reserves?
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.
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.
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.
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.
The reserve backing sits off-chain, so you read a third-party attestation of it rather than the accounts themselves. To move USDf toward attestor-optional, an issuer would have to publish raw on-chain reserves plus a proof re-derivable from public inputs. That is a property of the architecture, not of effort, so it is a rebuild, not a new auditor.
See how USDf 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 USDf
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. 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. 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. 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 USDf's reserves?
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. The reserve figure runs through HT Digital Ltd (Harris & Trotter affiliated): weekly letters plus quarterly ISAE 3000 reasonable assurance, 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 USDf contract is canonical, and how do I confirm I have the right one?
USDf is a synthetic delta-neutral token issued by Falcon Finance at 0xfa2b947eec368f42195f24f36d2af29f7c24cec2 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. 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.
Run this on USDf yourself, or get a signed record of it.
The check above is free and live. Paste USDf'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 synthetic delta-neutral tokens
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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 1, 2026; verify at the canonical sites. Kerne is not affiliated with Falcon Finance or any attestor named here. Page reviewed 2026-07-01. Last updated July 1, 2026.