apxUSD

Can this project keep operating and funding itself for years?

Accountable Proof of Solvency reported $177.77M in asset reserves backing $176.54M in circulating supply at 100.70% coverage on October 5, 2026. Strategy Inc STRC preferred stock represents 86.6% of asset reserves, leaving thin buffer margins during equity drawdowns.12

Can outsiders see and check what the team and the protocol do?

Wolf and Company completed six monthly AICPA securities examinations covering March through August 2026 alongside live Accountable enclave proof-of-reserves reporting. Quantstamp, Zellic, and Certora audited core contracts by March 2026, though auxiliary peg-liquidity contracts remain unverified.345

Does the protocol earn real fees or income from use?

Reserves held $153.98M in dividend-paying Strategy Inc STRC preferred shares and $23.78M in cash equivalents on October 5, 2026. Realized corporate dividend distributions vest linearly over 17 days into the ERC-4626 apyUSD vault while charging a 0.1% redemption fee.16

Is the technology being built and shipped, and does it matter?

Apyx pioneered a dual-token dividend-backed stablecoin architecture that converts off-chain Digital Asset Treasury preferred stock dividends into programmable ERC-4626 on-chain yield. Cross-chain deployments across Base, BNB Chain, and Solana reconcile through Chainlink CCIP lock-and-release escrow pools.64

Who uses, builds and holds it, and how durable is that base?

Centralized exchange trading on Kraken pairs with DeFi integrations across Morpho, Pendle, Curve v3, and Uniswap V4. However, Apyx-controlled wallets held 41.6% of total Ethereum supply and 85.3% of Curve v3 liquidity on October 5, 2026.72

Do supply, issuance and unlocks protect holders from dilution?

Ethereum supply stood at 302.47M apxUSD on October 5, 2026 under a 750M cap, with 167.18M tokens staked in the apyUSD vault. Primary minting and redemption remain restricted to whitelisted institutions, and apyUSD exits face a 20-day cooldown.12

1. 1docs.apyx.fi/product-overview/apxusd-overviewCited for Sustainability, Revenue, Tokenomics
2. 2github.com/yearn/risk-score/blob/master/reports/report/apyx-apxusd.mdCited for Sustainability, Community, Tokenomics
3. 3docs.apyx.fi/collateral-and-custody/third-party-attestationCited for Transparency
4. 4certora.com/reports/apyx-apxusdCited for Transparency, Innovation
5. 5certificate.quantstamp.com/full/apx-usd-stablecoin/2a5be074-3d9f-49e7-aa08-46fb5f1e5bd6/index.htmlCited for Transparency
6. 6github.com/apyx-labs/evm-contractsCited for Revenue, Innovation
7. 7kraken.com/prices/apxusdCited for Community

• Accountable Proof of Solvency recorded $177.77 million in asset reserves against $176.54 million in circulating supply on October 5, 2026, representing 100.70% coverage.
• Dual-token architecture isolates transactional dollar liquidity in apxUSD while routing corporate preferred equity dividends to the ERC-4626 apyUSD staking vault.
• Quantstamp, Zellic, and Certora completed independent smart contract audits by March 2026. Wolf and Company also published six monthly AICPA securities examinations through August 2026.
• Governance restructuring on August 31, 2026 raised the Upgrader Safe threshold to 4-of-7 and enforced a 3-day execution timelock on core proxy upgrades.

• Secondary market prices fell to $0.749 in June 2026 during a preferred stock drawdown before recovering to $0.988 on October 5, 2026.
• Asset reserves carried an 86.6% single-issuer concentration in Strategy Inc STRC preferred stock on October 5, 2026, exposing backing value to equity volatility.
• Primary apxUSD minting and redemption remain restricted to whitelisted institutions, while apyUSD vault redemptions enforce an unlocking cooldown of up to 20 days.
• An Apyx 2-of-4 Safe held 85.3% of the $4.78 million Curve v3 pool on October 5, 2026, concentrating secondary exit depth under issuer control.

apxUSD occupies a specialized niche within the synthetic dollar sector by backing token liabilities with publicly traded corporate preferred shares. Unlike fiat-backed tokens such as USDC and USDT that hold Treasury bills, Apyx backs reserves primarily with Strategy Inc STRC preferred stock.

apxUSD completed a four-month peg rehabilitation between June and October 2026 after rebuilding Accountable asset-reserve coverage to 100.70% as of October 5, 2026. The dual-token structure routes corporate dividend yield to apyUSD stakers backed by three smart contract audits and six monthly Wolf and Company examinations.