In an effort to improve the transparency of the Hermetica protocol’s backing assets, we are excited to share our fourteenth attestation report from all integrated custodians, verifying the assets backing USDh reside off-exchange within institutional custodial solutions.

Attestation reports will be released on a monthly basis to provide regular updates as to the amount and location of the assets backing the protocol.

As of 16:00 UTC February 25th 2026, USDh supply was 9,992,812.71 per the sources below

9,454,935.22 USDh on Stacks per the Stacks explorer link: https://explorer.hiro.so/token/SPN5AKG35QZSK2M8GAMR4AFX45659RJHDW353HSG.usdh-token-v1?chain=mainnet

533,439.38 USDh on Runes per the etchings and protocol addresses below:

The circulating supply is verifiable on-chain by subtracting the tokens held in the reserve and protocol wallets from the total supply:

Circulating supply = 1 quadrillion — reserve wallet — protocol wallets

$7,386,822.58 has been verified to be held within solutions offered by Copper as of 16:00 UTC February 25th 2026, including unrealized P&L.

$2,367,461.35 has been verified to be held within solutions offered by Ceffu as of 16:00 UTC February 25th 2026, including unrealized P&L.

At 16:00 UTC February 25th 2026, there was $23,625.90 in the Redeeming Reserve on Stacks, $223,595.07 in the Redeeming Reserve on Ethereum, $0.00 in the Minting Wallet, and $75,148.12 in the Reserve Fund.

In summary, as of the snapshot time: