Transparency
Portfolio data, on-chain balances and the record behind each NAV.
NAV history
PUBLISHED RECORDSigned snapshot
Not checkedCheck the signature.
Inspect the source.
Simulated attestor. Replaced by an independent firm in production.
Signature & source
- Expected signer
- 0x60Be08C7e2dA3b9C1fe2955d237b8833C2D63254
- Snapshot time
- —
- Publication
- —
Signed record is unavailable.
Portfolio composition
Simulated sovereign bonds · No real bonds are held by this testnet.
| Instrument | Target | Coupon | Maturity | Value / USDC |
|---|
At publication: — hbTRS · —
Prices & valuation inputs
| Holding | Coupon | Maturity | Scaled face | Clean / 100 | Dirty / 100 | Quote date |
|---|
Dirty prices include accrued interest. Scaled face adjusts the reference basket to the snapshot supply. Coupon rates and maturity dates are model assumptions.
Vault liquidity
ON-CHAIN USDC- Available for redemption
- — USDC
- Reserved for coupons
- — USDC
Redemptions on the testnet are paid from a vault the admin funds. There is no liquidity guarantee. Simulated holdings are separate from this balance.
Contracts
CHAIN 5042002Open an address to inspect its code and transactions on the explorer.
Valuation & methodologyFees, model assumptions and simulated yields
- Published NAV / token
- — USDC
- Snapshot supply
- — hbTRS
- Simulated backing ratio
- —
- Management fee / year
- —
- Simulated expenses / year
- —
- Accrued fees
- — USDC
. Manual prices carry forward until revised. The simulated backing ratio is not evidence of custody or spendable vault cash.
Value-weighted model calculation.
From testnet to productionWho operates each part of a future issuance
The production column describes the intended operating model, not an existing regulated issuance or partnership.
| Layer | Testnet v2 | Production (first issuance) |
|---|---|---|
| Legal issuer | none (simulation) | Licensed ADGM fund manager's fund |
| KYC / whitelist | 10-second simulated review | Partner's KYC vendor writes to the registry |
| Money | testnet USDC on Arc | Fiat/USDC into the fund's account via the partner |
| Custody | none | Bonds at broker/Euroclear; tokens with a licensed digital custodian |
| Token contract | ours | Vendor's audited contract implementing this behaviour |
| NAV | our Python job | Fund administrator's NAV, published by us |
| Attestation | simulated signer | Independent firm, monthly |
| App and transparency | ours | ours, fronting the partner's flow |