VENUEVERITAS

RWA / YIELD INTELLIGENCE

YLDS YLDS

Tokenized debt securityDebt claim

SEC-registered, blockchain-recorded face-amount certificate paying monthly interest referencing a SOFR-minus-spread rate.

Compare RWAsInspect evidence

Where does the yield come from?

Trace who economically pays. Reported APY is not a guaranteed return.

  1. Company holds certificate-backing assets

    Per prospectus

  2. SOFR-minus-spread rate computed each period

    Formula, not a fixed number

  3. Interest accrues to outstanding certificates
  4. Monthly interest payment to YLDS holders
  5. Custodians hold assets supporting obligations

    UMB Bank / Flagstar Bank

  6. Certificate holder claim is against the Company

    Not a claim on a specific segregated asset pool

Primary source
Treasury interest
Secondary source
Unknown
Who pays economically
Figure Certificate Company, per certificate terms.
Variable / fixed
Variable
Gross / net
Unresolved
Dated yield snapshot
Unknown

Interest rate is set as SOFR minus a spread (a formula, variable and reset per certificate terms), paid monthly. Support for interest payments derives from Figure Certificate Company's asset portfolio per prospectus.

Verified structured · Source

How yield is distributed

Mechanism
Interest payment
Notes
Monthly interest payments to certificate holders per prospectus terms.

What sits underneath?

Underlying assets and strategies from primary evidence only.

Figure Certificate Company's asset portfolio backing its face-amount certificate obligations, as described in its SEC registration/prospectus.

  • Certificate company assets (composition not itemized this pass)

Composition detail beyond entity-level description not structured this pass.

Researched unresolved · Source

What happens when things go wrong?

Structural loss path — not a risk score. Unknown protections stay Unknown.

Who takes the loss first
UNKNOWN — prospectus-level loss allocation/seniority detail beyond 'face-amount certificate' not fully structured this pass.
Documented protections
Face-amount certificate structure is a direct debt claim against Figure Certificate Company under 1940 Act registration; specific credit-enhancement mechanics not structured this pass.
Investor exposure
Certificate holders are creditors of Figure Certificate Company absent further prospectus detail extracted this pass.

This is a securities-law debt claim, not an FDIC-insured bank deposit.

Researched unresolved · Source

How do I get my money back?

Primary redemption ≠ secondary DEX liquidity. Eligibility is scoped.

Eligible investors
Per SEC-registered offering terms; specific investor eligibility not itemized this pass.
Primary redemption
Certificate redemption per Figure Certificate Company terms in the SEC prospectus.
Timing
UNKNOWN
Settlement asset
UNKNOWN
Minimum
UNKNOWN
Restrictions
UNKNOWN
Secondary liquidity
Any secondary market trading is not issuer redemption.

Researched unresolved · Source

Who holds the underlying assets?

Separate asset custody, cash custody, crypto custody, and token control.

Asset custody
UMB Bank, N.A. and Flagstar Bank named as custodians in the certificate structure.
Cash custody
UMB Bank, N.A. / Flagstar Bank (per structure).
Crypto custody
Blockchain-recorded representation of certificate ownership; specific chain(s) not itemized in the source excerpt reviewed this pass.

See tokenization block; specific mint/burn mechanics not itemized this pass.

Verified structured · Source

Fees

Gross yield and net yield are not the same. Not ranked by APY.

  • Certificate company management/administrative feeUNKNOWNResearched unresolved · Source
  • Custodian feeUNKNOWNResearched unresolved · Source

Regulation

Authorization is entity × jurisdiction × instrument scoped — not a brand label.

YLDS is issued by Figure Certificate Company, an SEC-registered face-amount certificate company under the Investment Company Act of 1940, offered via an SEC-registered prospectus.

Entity
Figure Certificate Company
Jurisdiction
US
Instrument
Face-amount certificate (1940 Act registered company)
Authorization / registration
U.S. Securities and Exchange Commission (SEC)

Verified structured · Source

Audit / assurance

Smart-contract audits are not fund audits or loan audits. No combined “audited” badge.

No structured assurance rows in this pack.

Smart-contract / token controls

Operational controls — not a decentralization score.

Mint
UNKNOWN — issuance mechanics not itemized in the prospectus excerpt reviewed this pass.
Burn
UNKNOWN
Pause
UNKNOWN
Freeze / blacklist
UNKNOWN
Upgrade
UNKNOWN
Allowlist
Likely restricted to SEC-registered offering purchasers; specific allowlist mechanics UNKNOWN.

Researched unresolved · Source

Tokenization layer

Chains
Unknown
Official ownership record
Figure Certificate Company / its transfer agent maintains the official register; the token is described as blockchain-integrated per the SEC filing context.
Transfer restrictions
UNKNOWN

Specific blockchain deployment(s) not itemized in the prospectus excerpt reviewed this pass (UNKNOWN).

Researched unresolved · Source

Research dimensions

  • What is YLDS?

    An SEC-registered face-amount certificate issued by Figure Certificate Company under the Investment Company Act of 1940, paying monthly SOFR-minus-spread interest.

    Verified structured · Source

  • Who is legally on the hook if YLDS can't pay?

    Figure Certificate Company as the face-amount certificate issuer; specific creditor priority is not fully extracted from the prospectus excerpt reviewed this pass.

    Researched unresolved · Source

  • How is the YLDS interest rate set?

    SOFR minus a spread, paid monthly, per certificate terms — a formula, not a fixed published APY.

    Verified structured · Source

What must keep working?

Material dependencies only. Count is not a risk score.

  • Legal issuerFigure Certificate CompanyCertificate issuance
  • RegulatorU.S. SEC1940 Act registration / prospectus
  • CustodianUMB Bank, N.A.Asset custody
  • CustodianFlagstar BankAsset custody
  • Rate BenchmarkSOFR benchmarkInterest rate formula

Evidence domains

  • Entity / issuerVerified structured

    Figure Certificate Company + custodians named

  • Legal claimVerified structured

    Face-amount certificate debt claim

  • Yield sourceVerified structured

    SOFR-minus formula

  • Yield waterfallVerified structured
  • Loss waterfallResearched unresolved

    Seniority/loss detail unresolved

  • Underlying assetsResearched unresolved

    Asset composition not itemized

  • Distribution mechanismVerified structured

    Monthly interest payment

  • RedemptionResearched unresolved

    Redemption specifics unresolved

  • FeesResearched unresolved
  • CustodyVerified structured

    UMB / Flagstar named

  • RegulationVerified structured

    SEC 1940 Act registration

  • Assurance / auditNot researched

    No assurance report identified this pass

  • Token controlResearched unresolved

    Issuance mechanics unresolved

  • Tokenization / chainResearched unresolved

    Chain(s) not itemized

  • DependenciesVerified structured
  • Geographic / eligibility restrictionsResearched unresolved

    Eligibility not itemized

Open gaps

  • Certificate-backing asset composition detail
  • Redemption timing/minimum specifics
  • Token issuance / control-plane mechanics
  • Blockchain deployment chain(s) not itemized

Primary sources

RWA / Yield Asset Intelligence. No RWA score. No APY ranking. Unresolved states remain unresolved.