Proof of reserves & audit approach
A stablecoin is only as trustworthy as its proof. It's not enough to say the reserves exist, holders need to be able to confirm it. Steady's approach combines three layers of verification: on-chain data anyone can check, certified documentation from our banking partners, and independent third-party audits.
On-Chain Verification
The on-chain side requires no trust at all. Circulating supply, transfers, supply adjustments (mint and burn), APY and the complete rebase history are publicly visible and can be confirmed by anyone using standard blockchain explorers. This is the foundation: the supply side of the equation is always independently verifiable, in real time.
Certified Bank Statements
Steady's reserves are held with regulated Swiss banking partners. Our reserve reporting is grounded in certified bank statements — official statements from our banking partners that confirm the assets held in reserve. Because they're certified by the banks themselves, the reserve figures we publish are based on documentation from regulated financial institutions, not self-reported numbers.
These statements are the basis for the reserve figures published in the Supply & Reserves section of the Transparency Portal. Currently, this process is manual: our team obtains the certified statements and updates the published reserve data accordingly.
Third-Party Audits
Beyond bank-certified statements, Steady's verification is reinforced by independent third-party audits, published in the Audits & Partners section of the Transparency Portal. These include audits of our smart contracts and security protocols, conducted by external partners.
Automated Reserve Reporting (coming soon)
In the short term, we plan to move from manual reserve updates to automated reserve reporting. Once we have API access to our banking partner's systems, reserve data will be able to flow to the Transparency Portal directly and far more frequently, reducing reliance on manual updates and bringing reserve visibility closer to the real-time standard our on-chain data already meets. This is a near-term priority.
