Solutions / Stablecoins
Prove reserve composition and collateral eligibility on every transaction, onchain and off. Institutions that cannot hold an unverifiable token can hold yours.
The problem
All stablecoin blowups share the same problem: reserves move every day while reporting happens after the fact.
Attestation is a snapshot of one day, not a record of a quarter.
Collateral eligibility is papered in docs.
The market cannot distinguish between honest issuers and reckless ones.
Yield attribution
Your holders take the breakdown on your word. The bigger cost is the capital that never arrives: an institution cannot hold what it cannot verify, so the mandate-constrained market is closed to you.
Composition, as published
Illustrative
Short-dated government paper
Offchain
62%
Overnight repo
Offchain
21%
Onchain lending, eligible venues
Onchain
14%
Unattributed
Undisclosed
3%
With POY
The onchain 14% is the easy half. Proving the 83% held with a custodian is the half that decides whether any of this is worth anything, and POY covers both, so the breakdown a holder reads is a verified decomposition rather than a statement of intent.
What POY enforces
The reserve policy compiles into the program the issuer proves against. A deployment outside the eligible set is not attested later. It does not execute.
Target weights, concentration caps and duration bounds are checked against the committed policy before any reallocation settles.
This covers the reallocation, not the custody. The proof shows the move satisfied your committed policy; who holds the assets is still your custodian’s answer to give.
The eligible asset set is enforced per transaction, so an ineligible venue or instrument is unreachable rather than merely disallowed.
Enforcement binds what your own onchain product will execute. It controls where reserves can go, and says nothing about the credit quality of an asset you made eligible.
Each line of the return is attributable to the position that produced it, so the published rate has a verifiable decomposition behind it.
Attribution is proven against the committed accounting program, so holders can check the derivation without you publishing position-level detail to the market.
Who this is for
Yield-bearing stablecoin issuers, tokenised treasury products, and anyone whose distribution depends on institutions that have to justify holding it.
How it works today
A monthly attestation, describing a month that has closed
Reserve policy enforced by the people who wrote it
A published rate with no verifiable derivation
Institutional holders have nothing to diligence but your word
With POY
A verification per transaction, at the moment it executed
Reserve policy enforced by the product, no exceptions path
A rate with proven attribution behind every line
Institutional holders check the record themselves
Every line of the reserve verified, onchain and off.