Proof of reserve
A published comparison of the reserves held against a token and the supply of that token, with the time it was read.
The figure has three parts: reserves, supply and the ratio between them. Each is read from a feed and carries an as-of time, because a reserve figure without a time is not a fact.
When the feed is older than 24 hours the interface shows the last value with a stale badge rather than a fresh-looking number.
Related terms
Attestation
A report in which an accounting firm states whether the reserves behind a token match the published figures on a given date.
Reserve ratioReserves divided by token supply, expressed as a percentage, read at a stated time.
Net asset valueThe value of one token calculated from the assets behind it, less fees and liabilities, at a stated time.