> ## Documentation Index
> Fetch the complete documentation index at: https://docs.webacy.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Backing Map

> Collateral and reserve composition of major stablecoins — see what assets actually back each dollar of supply across USDC, USDT, DAI, and other peg tokens.

The Backing page shows the collateral and reserve composition of major stablecoins — what assets actually back each dollar of supply.

# What it shows

Each card displays one stablecoin with a horizontal bar chart of its reserve breakdown. The percentages represent the issuer's publicly disclosed collateral composition.

| **Field**        | **Description**                                                                 |
| :--------------- | :------------------------------------------------------------------------------ |
| **Issuer**       | The entity that issues and redeems the stablecoin.                              |
| **Type**         | Fiat-backed, collateralized, hybrid (algo + collateral), etc.                   |
| **Asset bars**   | Each bar = one collateral category, sized by % of total reserves.               |
| **Descriptions** | Additional notes on the asset quality (e.g. 'T-bills \< 90d', 'secured loans'). |

# Data sources & freshness

* **USDC** — the issuer's monthly reserve attestation reports.
* **USDT** — the issuer's quarterly reserves transparency report.
* **DAI** — issuer's on-chain collateral data (public).
* **FRAX** — issuer's on-chain collateral and AMO data.
* **USDP, BUSD, TUSD** — the issuer's published attestation reports.

**Note:** This data is *not real-time*. Reserve compositions change slowly; figures reflect the most recent published disclosures and are updated manually when issuers publish new reports. For live depeg risk see the [Overview](https://depeg-monitor.webacy.co/).

# Why backing matters for depeg risk

The quality and liquidity of reserves directly affects how quickly a stablecoin can honour redemptions.

| **Reserve type**        | **Liquidation speed** | **Risk to peg**            |
| :---------------------- | :-------------------- | :------------------------- |
| Cash (bank deposits)    | Instant               | Lowest — but bank run risk |
| T-bills \< 90 days      | 1–2 days              | Very low                   |
| Longer-dated treasuries | Days                  | Low, but duration risk     |
| Crypto collateral (ETH) | Minutes               | Moderate — price volatile  |
| Secured loans           | Weeks–months          | High — illiquid            |
| Algorithmic (unbacked)  | N/A                   | Highest — no floor         |