Custodial reserves · NAV attested on-chain

Reserve & NAV

FNC is reserve-backed. Reserves are operator-custodied off-chain; the net asset value is attested on-chain through the NAV Registry, with proof-of-reserves published alongside. Redemptions are honored at the floor during the daily window.

NAV Registry ↗Redemption Escrow ↗

Implied Total Backing

—

NAV × circulating

NAV per FNC

—

navPerToken() · attested

Circulating Supply

—

totalSupply() · live

Redemption Floor

$0.97

floor backing ≈ $—

NAV Attestation

On-chain NAV

Reading…

NAV / FNC

—

Raw NAV

—

Last attested—

Staleness window—

Supply

Hard Cap

21,000,000

Circulating

—

Burned

—

Floor Backing

—

Minting is renounced — circulating supply only ever falls as FNC is burned.

Custody & Proof-of-Reserves

FNC runs a custodial reserve model. The off-chain engine manages reserve assets and posts the resulting NAV to the on-chain registry; proof-of-reserves is published so anyone can reconcile the attested NAV against the holdings.

Operator-custodied reserves

Reserve assets are held and managed off-chain by the operator engine.

NAV attested on-chain

The engine posts NAV to the NAV Registry; navFresh() guards staleness.

Proof-of-reserves published

Holdings are published so the attested NAV can be independently reconciled.

Floor-honored redemption

Redemptions settle at the $0.97 NAV floor during the daily window.

Reserve-backedNAV attested on-chainProof-of-reserves publishedFloor-honored redemption

The NAV that backs every FNC is read live from the on-chain registry. Redemptions are honored at the NAV floor during the daily window — reserve value, not market price.