Proof of reserves
Reserves
Every GLD, SLV and USO on Arc is backed by the stock token locked in its vault on Robinhood Chain. We show the worst coverage first, never an average.
Worst coverage
How coverage is computed
coverage = (vault reserves − deposits not yet minted) ÷ (Arc supply + redeems not yet released)
Queued deposits are already in the vault but not yet minted, so they are subtracted. Pending redeems are burned on Arc but still owed on Robinhood Chain, so they are added back. Coverage ≥ 100% means every Arc token is backed.