At the heart of the tfBILL Vault is a commitment to unwavering transparency for our investors. ADAPT I LP ensures that every minted tfBILL token is consistently backed 1:1 by a collective pool of T-Bills, USDC, and USD. Our guiding principle is "don't trust, verify", empowering investors with the means to validate our claims.
Archblock's frontend website, which plugs into the TrueFi smart contract interface where all ADAPT I LP capital activity occurs, provide investors with real-time visibility into the Fund's holdings, yield generation, fees and expenses, and ongoing maturity profile. Additionally, the fund plans to integrate with Chainlink's proof-of-reserves or similar on-chain attestation services, which will ensure cryptographic verification of tfBILL tokens' backing by underlying assets.
On the blockchain, USDC deposits within the tfBILL Vault smart contract can be openly inspected and confirmed on Etherscan. Beyond the blockchain, tfBILL's underlying holdings are safeguarded by regulated custodians. The Fund's administrator releases a daily public report detailing the Fund's holdings. Any residual USD fiat currency is primarily in transition, navigating between the on-ramp and off-ramp service providers, our banking associate, and the brokerage account.
Audits & Attestations
Independent third-party fund administrator NAV Consulting releases daily NAV reports (which are available to investors on Archblock's frontend), detailing the Net Asset Value of the backing tfBILL's underlying holdings. ADAPT I LP is subject to annual audits, conducted by Wolf & Company, a recognized fund auditor with deep experience in blockchain fund audit and accounting services. This ensures that ADAPT I LP maintains the highest accounting standards.