Asset management
How does Dollarparking monitor stock token issuers?
We start with three checks in public reports
Dollarparking does more than provide access to stock token trading.
We regularly review issuer reports to check the assets backing the tokens and the status of third-party verification.
We begin with three questions.
- Whether total assets are sufficient compared with total liabilities
- Whether reports are published within the stated period
- Whether all records required for third-party verification were provided
1. Are total assets sufficient compared with total liabilities?
We first review the report's total-assets-to-total-liabilities ratio.
This ratio compares total assets with total liabilities.
What are total assets and total liabilities?
| Item | Meaning |
|---|---|
| Total assets | The combined dollar value of the stocks, ETFs, USDC, USDT, cash, and other assets held |
| Total liabilities | The combined dollar value of all outstanding tokens issued by the issuer |
What is included in total liabilities?
In this report, total liabilities include the following items.
- Market value of outstanding Ondo Stocks
- Market value of outstanding USDY
- Outstanding USDon
Total liabilities do not include the following items.
- Loans
- Accrued expenses
- Tax liabilities
- Amounts payable to counterparties
- Liabilities that may arise from litigation or contracts
Total liabilities may change when the prices of the underlying stocks or ETFs change.
Reviewing the total-assets-to-total-liabilities ratio
The report dated July 27, 2026, provides an example.
The report shows the following figures.
| Item reviewed | Reported figure |
|---|---|
| Total assets | $1,142,100,877.31 |
| Total liabilities | $1,047,590,067.42 |
| Total-assets-to-total-liabilities ratio | 109.02% |
What does a total-assets-to-total-liabilities ratio of 109.02% mean?
If total liabilities were 100 dollars, the issuer would hold approximately 109.02 dollars in total assets.
We also check whether this ratio is rising or falling and whether it has changed significantly.
2. Was the report published on time?
We check whether a report has been published for every weekday.
The issuer states that each report is published within three business days of its reporting date.
Dollarparking therefore checks the following.
- Whether the report was published within three business days
- Whether any reporting dates are missing
- Whether publication delays are recurring
- Whether publication stopped without a separate explanation
A report published one or two days later can still fall within the stated period.
3. Were all third-party verification records provided?
The report identifies the records reviewed by the third-party Verification Agent.
Four types of records are checked.
- Fiat account statements
- Exchange account snapshots
- Securities account summaries
- USDC and USDT wallet holdings
All four items were marked Yes in the report dated July 27, 2026.
Ankura, the Verification Agent, states that it reviewed the amounts and calculations using account data and reports submitted by the issuer and read-only access to certain collateral accounts.
We perform additional checks when a report changes significantly
1. Whether total assets and total liabilities move together
If token issuance increases, the assets backing those tokens should also increase.
If tokens are burned, we check whether the related total liabilities also decrease.
2. Whether funds in transit remain for too long
Funds in Transit means assets moving between accounts or institutions.
This item can appear temporarily, but we investigate further if the same amount remains for five trading days or more or becomes a larger share of total assets.
Funds in transit were reported as zero dollars in the report dated July 27, 2026.
3. Whether assets are overly concentrated at one institution
The report shows account-level amounts held at institutions such as BitGo, SVB, and Alpaca.
If an institution's balance falls sharply without explanation or assets become concentrated at one institution, we review related notices and subsequent reports.
4. Other warning signs
Dollarparking first looks for the following warning signs.
- A significant change in any reported figure
- Repeated publication delays or reports missing for consecutive days
- A verification item changing to
Noor disappearing
We continue reviewing publicly available records
Dollarparking checks daily for these warning signs in issuer reports.
※ If the issuer has not published the necessary records or the available information is insufficient, we contact the issuer directly to clarify the situation.
If we confirm a serious issue in an issuer report that may affect users' trades or assets, we provide a prompt notification within the service.