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Because Digital Assets Yield loans exist off-chain, the transparency framework is designed to give depositors as much visibility as possible into the health and composition of the loan portfolio, through multiple independent channels.

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Real-time loan data

The lending operation provides per-loan data directly from its systems. This data is sourced from an industry-standard loan management and collateral tracking platform used by major institutional counterparties.

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What depositors can see

This data is displayed in the Vault Analytics section of the Digital Assets Yield vault UI on Kamino.

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Monthly attestation

An independent accounting firm conducts monthly attestations of the Digital Assets Yield portfolio. The attestation covers:
  • Loan balances outstanding: total and per-loan amounts verified against the lending operation’s records
  • Collateral coverage ratios: independent verification that collateral values match reported positions
  • Portfolio health metrics: assessment of overall portfolio status
The attestation is a formal, signed document produced by a professional accounting firm. It is the primary independent verification mechanism for off-chain lending activity.

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Additional oversight

The lending operation also reports to the Financial Market Authority (FMA) in Liechtenstein, providing additional regulatory oversight beyond the independent attestation.

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Comparison to other institutional lending products