Proof of reserves
Proof of reserves is independent verification that issued claims are fully backed by assets held. How proof of reserves works for physical uranium.
Proof of reserves is independent verification that the claims a platform has issued are fully backed by the assets it holds. For a physical commodity, it shows that the total quantity of ownership claims outstanding matches the quantity of the commodity actually held.
How proof of reserves works
Proof of reserves compares the assets held in custody with the claims issued against them. An independent party checks the custody records, and the result is published so that holders and the market can confirm the backing for themselves. Publishing the figure on a regular schedule, or as a continuously available data feed, lets anyone check the backing without relying on the issuer's own statements.
Proof of reserves for physical uranium
For physical uranium, proof of reserves means showing that every digital warehouse receipt outstanding is matched by physical U₃O₈ held at a conversion facility. Uranium Digital uses three layers of verification.
- Independent audit. The Network Firm audits physical U₃O₈ reserves 1:1 against digital warehouse receipts outstanding, under AICPA attestation standards.
- Proof of reserves. A published verification, through Chainlink, that the physical U₃O₈ held matches the digital warehouse receipts outstanding, so the backing can be checked independently.
- Monthly attestations. A third-party attestation is published every month, comparing the physical U₃O₈ held at ConverDyn against the digital warehouse receipts outstanding.
See proof of reserves and how physical uranium is custodied and verified.
FAQ
Proof of reserves is independent, published verification that the claims a platform has issued are fully backed by the assets it holds. It compares the assets in custody with the claims outstanding, so holders can confirm the backing without relying on the issuer's word. For uranium, it shows that digital warehouse receipts outstanding match the physical U₃O₈ held.
On Uranium Digital, The Network Firm audits physical U₃O₈ reserves 1:1 against digital warehouse receipts outstanding, Chainlink proof of reserves publishes the reserve figure so it can be checked independently, and a third-party attestation report is published each month.