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ckUSDT reserves Fully backed

Backed by USDT (ERC-20) held by the minter on Ethereum.
100.077%
reconciled backing
Every ckUSDT is backed: net reserves are 100.077% of supply after setting aside 92396.461619 owed to withdrawals in flight. The surplus of 1636.19 is fees the minter has accumulated. One native-chain source confirms the minter's figure, a second was not reachable.
Supply on IC
2,112,288.843956
cngnf-vqaaa-aaaar-qag4q-cai icrc1_total_supply
Minter reserves
2,206,321.495575
first party: the minter's own accounting
Native chain
2,113,939.849102
one source answered
Withdrawals in flight
92,396.461619
30 requests, burned on the IC, native funds not yet final
Deposits awaiting mint
0
Raw ratio
100.078%
reserves over supply, no adjustments
Tolerance
0.10%
from this asset's own run-to-run noise, ceiling 1%
Checked

Reconciliation

LineAmountTrustNote
ckUSDT supply on the IC2,112,288.843956first-partyicrc1_total_supply of the ledger canister
+Reserves, minter's own accounting2,206,321.495575first-partyreported by the minter canister, which holds the threshold key
Reserves seen on the native chain2,113,939.849102third-partyone source only
-Withdrawals in flight92,396.461619first-partyalready burned on the IC, native payout not sent or not final yet: these funds belong to the withdrawers
-Deposits awaiting mint0first-partyseen by the minter on the native chain, tokens not minted yet
Net reserves backing the supply2,113,925.033956derivedreserves minus withdrawals in flight minus deposits awaiting mint
Surplus over supply1,636.19derivednet reserves minus supply
Fees held by the minterunknownfirst-partythis minter does not publish a fee total: its surplus is accumulated fees, which we cannot itemize

Native sources

SourceReadingBlockCoverageNote
publicnode2,113,939.84910226037011complete
llamarpcfailed26037011completeError: llamarpc 525
Minter itself2,206,321.495575completeckETH minter get_minter_info and /dashboard (NNS-controlled canister)

Over time

Reconciled backing ratio

ckUSDT supply

Minter reserves

Supply change per interval (mints minus burns)

Canisters behind it

CanisterRoleCyclesRunwayHealth
ckETH Mintersv3dd-oaaaa-aaaar-qacoa-caiMinter404.6 T~42 dAt risk
ckUSDT Ledgercngnf-vqaaa-aaaar-qag4q-caiLedger79.77 T~81 dHealthy

A minter running low on cycles is a reserve risk too: it holds the threshold key that moves the native funds. Lifeline alerts cover both canisters, and any controller or code change on them.

Native addresses

Minter address (threshold ECDSA)

0xb25eA1D493B49a1DeD42aC5B1208cC618f9A9B80

ERC-20 deposit helper contract

0x6abDA0438307733FC299e9C229FD3cc074bD8cC0

USDT token contract

0xdAC17F958D2ee523a2206206994597C13D831ec7

last observed block
26036928
last eth scraped block
26036928
last erc20 scraped block
26036928
pending in count
0

How to verify this yourself

  1. Read the supply on the IC: call icrc1_total_supply on the ledger cngnf-vqaaa-aaaar-qag4q-cai (any IC client, or the dashboard link above).
  2. Read what the minter says it holds: open the minter's own dashboard at https://sv3dd-oaaaa-aaaar-qacoa-cai.raw.icp0.io/dashboard. The minter is an NNS-controlled canister; its code is public and its upgrades are voted on.
  3. Check the native chain: look up the addresses above on any explorer. The minter address holds the ETH and every ERC-20 balance; the helper contracts forward deposits to it.
  4. Subtract withdrawals in flight (burned on the IC, funds not yet final on the native chain) and compare with the supply. That is the reconciled ratio above.