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Roles and Responsibilities
Teams and Systems
The goal of the Chainlink Proof of Reserves (PoR) is to provide a decentralized, trustless, unbiased 3rd party accounting of the assets held by the USDR treasury, inclusive of both on- and off-chain assets.
Tangible’s implementation of Proof of Reserves is a collaboration between three key groups:
The Network Firm (TNF) is an independent CPA firm licensed in Florida, USA, specializing in the digital asset space. TNF is a leader in the development of Proof of Reserves solutions for DeFi protocols and one of Chainlink’s recommended partners. The team at TNF is responsible for three key components of our PoR solution.
- 1.Independently aggregating information of the PoR data feed, presenting a real-time value for the digital assets held in the USDR treasury
- 2.Performance of agreed-upon attestation procedures, production of monthly attestation reporting related to the TNFTs, with the intended purpose of demonstrating that, at the time procedures were performed, Tangible purchased residential real-estate property assets intended to be represented by TNFTs as observed on the Polygon blockchain, which grant holders beneficial ownership rights as outlined in Tangible’s Terms of Service.
- 3.Exposing an API of aggregated information, including key attestation dates, embedded with the Tangible UI. (Note: this feature is expected to be launched in Q4 2023)
Chainlink is central to the process, supplying the smart-contract and decentralized network infrastructure that the PoR feed is built upon. Current reserve assets status is always available for review at this link.
Tangible initiated and retains the relationships with both of these providers, covering all initial costs and monthly service fees required by the suppliers.
Tangible is also responsible for providing TNF with timely distributions of the documentation required in the initial real property attestation and ongoing ownership verification outlined in the workflow section of these docs.