Accountable Dashboard

This page explains the Apyx Accountable dashboard, why its Proof-of-Reserves can be trusted, what Apyx can and cannot influence, and how each category of reserve assets is defined.

What Is The Apyx Accountable Dashboard?

The Apyx Accountable dashboard is a live, public view of the assets that back the Apyx protocol. It is powered by Accountable, a Proof-of-Reserves provider that connects directly to the accounts and wallets where the Apyx protocol holds assets and continuously verifies their balances.

The dashboard groups the protocol's reserves into the following categories:

• STRC
• SATA
• Cash & Equivalents
• Other

The dashboard also provides a breakdown of the total supply of apxUSD. Each category is defined in detail below.

Why Apyx Trusts Accountable

Accountable provides an end-to-end verifiable Proof-of-Reserves. Rather than relying on a self-reported balance sheet or a point-in-time snapshot, Accountable verifies the underlying account balances directly and continuously.

Accountable provides official connectors to brokerage accounts, exchange accounts, and blockchain wallets to read balances from the source. Figures displayed on the dashboard reflect assets that have been retrieved through Accountable’s official connectors.

The Accountable application runs in an AWS Nitro Enclave. This is what makes the proof trustworthy even though the Apyx Foundation operates the infrastructure. The enclave is an isolated, hardened compute environment that publishes cryptographic measurements of the binary that is running.

Anyone can compare the published measurements against the expected values for Accountable's official binary to confirm that Apyx is running unmodified Accountable software and has not altered it. The signing key can also be verified to be part of AWS's official Nitro Enclave PKI structure to verify that the response hasn't been modified, and the measurements and signature were produced by the AWS Nitro Enclave.

For a deeper explanation of the enclave architecture and attestation, see the Accountable documentation.

What Can Apyx Control?

Accountable's design intentionally limits what Apyx can influence, and the boundaries are worth stating plainly:

• Apyx deploys the infrastructure that Accountable runs on. The Apyx Foundation operates the host environment, but the PCR attestations described above proves the Accountable software running on it is unmodified.
• Apyx requests changes and updates to the dashboard, such as display and presentation changes. Apyx could directly modify the UI being displayed, but cannot modify the data being returned or the Accountable binary and connectors without it being cryptographically obvious.

What Apyx cannot do is alter the verified balances or fake the proof of reserves: the enclave and its attestation make this cryptographically obvious.

Reserve Asset Categorization

This section describes how assets shown in the Reserves Breakdown are categorized.

STRC

STRC held in the Foundation brokerage account(s) or onchain in STRCx. STRC held at the brokerage are also attested in our monthly attestations by Wolf & Co.

SATA

SATA held in the Foundation brokerage account(s). SATA held at the brokerage are also attested in our monthly attestations by Wolf & Co.

Cash & Equivalents

Cash & Equivalents includes stablecoins, USD, or treasury bills held in the Foundation brokerage account(s), exchange account(s), and wallet(s). It also includes stablecoins deployed in liquidity positions, open orders, or to lending platforms.

When a user sells apxUSD into cash liquidity provided by the Apyx protocol, Cash & Equivalents is reduced and Inventory is increased. For example, if a user sells 1 apxUSD for 1 USDC then Inventory increases by 1 apxUSD (taking 1 apxUSD out of circulation) and Cash & Equivalents decreases by 1 USDC.

Other

Other covers positions that do not fall into STRC, SATA, or Cash & Equivalent. Examples include ETH held for paying gas fees, PENDLE tokens earned from seeding Pendle markets, or other positions. It is not the intent of the protocol to hold positions in Other.

Non-Reserves Assets

This section describes how assets shown in the apxUSD Supply are categorized.

Circulating Supply

The total supply of apxUSD as reported by the totalSupply() function on the apxUSD contract deploy to Ethereum mainnet at 0x98A878b1Cd98131B271883B390f68D2c90674665, less Inventory and Protocol Owned Liquidity (POL).

Inventory

Inventory is apxUSD, apyUSD, or assets that are redeemable for apxUSD/apyUSD that are held by the Apyx Foundation. Inventory is not part of the Circulating Supply and is not eligible for redemption.

Inventory enters circulation when a counterparty acquires it. For example, in an OTC deal, where a KYC'd counterparty transfers stablecoins or USD to the Foundation in exchange for apxUSD. When the counterparty transfers stablecoins or USD and receives apxUSD the reserves Cash & Equivalents increases, Inventory decreases, and Circulating Supply increases. The apxUSD is now backed and part of the circulating supply.

Protocol Owned Liquidity (POL)

Protocol Owned Liquidity is Inventory that is held in markets to provide liquidity. It is the same kind of asset as Inventory, but actively deployed into limit orders or liquidity positions. On the dashboard, POL and Inventory are reported as separate line items to provide more visibility into how the protocol manages Inventory.