Why it matters
The value a coverage record brings to institutions, partners and holders on Stellar.
A coverage record, published each cycle, changes what partners and holders can see between audits, and it does so without exposing customers.
Evidence between audits
An audit or attestation describes one date and arrives weeks later. Between reports, partners and holders rely on trust.
A Solva record adds evidence for the time in between, one record per cycle. Each record is dated and tied to a Stellar ledger. An auditor sees a row for every cycle in the period, and a gap wherever a cycle did not run. The audit stays in place. See Coverage and audits.
Customer privacy
Publishing every balance behind a total would prove it, and would expose every customer.
Solva proves the total and publishes no balance. The public sees the reserves total, the total owed and a commitment, and each customer can check their own balance. See Privacy.
A public record anyone can check
A record does not ask anyone to trust Solva. A contract on Stellar checks every proof before it writes a record, and the contract's code is open. Anyone can read a record and repeat the check, with no account and no permission.
Reading a record is free. Verifying a proof on Stellar Testnet costs about 0.0122514 XLM in network fees, as measured on the verifier contract CA3KQYYAGUEIURJSB5CSWVMNIY2FF2EG3YTM7SBBRSN7DQWZXCCXWXN3.
One way to state coverage on Stellar
Each institution states its reserves in its own words and its own format, and partners read each one differently.
Solva gives every institution the same record, with the same fields. Shared statuses, covered, short and stale, come with public record pages Coming soon. A wallet, an exchange or a lender reads every institution the same way. A contract can read it too, and is_covered Coming soon reduces that read to one call.