The live book, verifiable on-chain

Every number below comes from Ethereum mainnet contract state, previews, or events. No off-chain estimate is substituted.

The backing invariant: supply ≤ backing, enforced in-contract

USDfr supply

–

totalSupply() on Etherscan →

Backing value

$–

totalBackingValue() on Etherscan →

Gross collateral & reserves

–

idle reserve + gross loan collateral

Curator first-loss capital

–

sum of all sector pools

sGROVE total backstop

–

$– live callable reserve

Backing is the protocol's accounting claim: idle reserves plus outstanding loan principal. Gross collateral & reserves replaces loan principal with the broader collateral reference: receivables scale their live outstanding principal by the signed LTV, so the reference amortizes with the loan and falls on a write-down, and digital-asset loans use the latest fresh m-of-n attested mark; closed facilities are excluded. Curator capital is shown separately because it is subordinated USDfr already backed by this same asset pool, not an additional external asset to add a second time. The sGROVE figure is its total funded USDfr coverage reserve. A loss can call the smaller of its amount and that live shared reserve; each draw depletes the same pool.

Reserves

0x8317…dD48

Idle stablecoin reserve

$–

Deployed principal

$–

sUSDfr vault

0xAF55…E234

Staked assets

– USDfr

Shares outstanding

–

Fee-net exchange rate

–

Performance-fee NAV rate

–

Global high-water mark

–

Last fee checkpoint

–

The displayed exchange rate simulates fees due now. Gross marked fee NAV is the conservative impairment-netted rate tested against the global HWM before fee shares are minted.

The book

0xe562…4F7d

Facilities originated

–

Book exposure

$–

Performing weighted yield

–

All-outstanding contractual yield

–

Performing principal

–

Gross performing income run-rate

–

Non-performing principal

–

Gross contractual tiers, weighted by live outstanding principal. The performing rate includes only Active and Amortizing loans; it is not realized cash yield or an sUSDfr return.

Historical credit performance

0xD08F…7263

Overall net default rate

–

Net principal written off

–

Cumulative funded principal

–

Media & entertainment

–

Renewable energy

–

Life sciences

–

Real estate

–

Digital assets

–

Cumulative principal written off after cash recoveries, divided by cumulative principal actually funded. Full recoveries contribute zero. Unresolved defaults remain in live risk metrics and are not counted as historical loss until realized.

Protocol revenue

0xED7F…b063

Revenue since deployment

– USDfr-equiv.

Origination fees collected

–

Interest fees

–

Performance fees

–

Management fees

–

Current origination fee

–

Current interest fee

–

Current performance fee

–

Current management fee

–

Waterfall recipient

–

Vault recipient

–

Event-summed fees at receipt or crystallization. Performance and management amounts are denominated in USDfr at the checkpoint but paid as sUSDfr shares, whose later value can change. Recipient wallet balances are not used because fee assets/shares can be transferred. Principal repayments and depositor income are excluded. The HWM is protocol-wide, not personal cost-basis accounting.

sGROVE backstop

0x5608…8a72

Live callable reserve

$–

Funded coverage reserve

$–

Each loss may call min(loss amount, live USDfr coverage reserve). There is no per-event cap; draws share and deplete the same reserve.

Redemption queue

0xa3a9…d1f8

Current epoch

–

Settlement status

–

Queued shares

–

Settlement liquidity

$–

Provenance

0x50aC…B47C

Network

Ethereum mainnet

As of block

–

History through block

–

Every figure on this page is a direct contract read. Click any panel's address to reconcile it on Etherscan. Live Ethereum mainnet state.