Review limitations

KRW stablecoin monitor

Independent KRWQ, KRW1, and KRWO supply, market, reserves, and backing checks from public sources.

CollectedPortfolio JSON
Portfolio

Tracked assets

KRWQIssuer: IQ / Frax
warning
Counted supply
780,683,266.04
Market price
₩0.966214
Backing coverage
120%
KRW1Issuer: BDACS
warning
Counted supply
11,994,450
Market price
No active market price
Backing coverage
100.05%
KRWOIssuer: GimSwap
warning
Counted supply
20,300,000
Market price
No active market price
Backing coverage
100%
KRWQ · IQ / Frax

KRWQ

Canonical supply
780,683,266.04 KRWQ
KRW price
0.966214 KRW
−3.38%
Reserve ratio
120%
Bridged share
65.09%
On-chain

Chain distribution

Ethereum Source
EthereumNative Ethereum float
272,565,604.7 KRWQ34.91%
BaseBridged float
436,246,998.71 KRWQ55.88%
PolygonBridged float
36,808,770.5 KRWQ4.71%
FraxtalBridged float
34,611,943.68 KRWQ4.43%
MorphBridged float
448,943.44 KRWQ0.06%
CodexBridged float
5 KRWQ0%
SolanaBridged float
1,000 KRWQ0%
Reserves

Disclosed reserves

KRWQ Source
AssetReserve amountKRWQ issuedHolder
KTB144,644,279.71 KTBNot allocated to a specific KRWQ issuance line0xA3E0…6D8B54
USDC90,102.08 USDC103,906,962.28 KRWQ0x5573…FeF04C
frxUSD482,631.87 frxUSD556,577,728.01 KRWQ0x7e88…99C05D
Methodology

How this monitor counts KRWQ

Ethereum totalSupply is the canonical issuance. Tokens visible on Base, Polygon, Fraxtal, Morph, Codex, and Solana are subtracted from that total to estimate the native Ethereum float, so bridged tokens are not counted twice.

Reserve coverage and composition come from the issuer transparency endpoint. Market price uses CoinGecko, with DefiLlama's USD price and Coinbase's USD/KRW rate as a fallback. QuantField labels stale, off-peg, under-reserved, and supply-mismatch states instead of replacing missing data with estimates.

Price sourceKRWQ Transparency
KRW1 · BDACS

KRW1 commercial issuance and PoC deployments

Counted supply
11,994,450 KRW1
Issuer-reported reserve
₩22,999,500
Backing coverage
100.05%
Excluded PoC supply
129,500,000 KRW1
On-chain

Network evidence

KRW1 Transparency
EthereumCommercial / counted
11,994,450 KRW1Lifecycle
Ethereum PoCPoC / excluded
0 KRW1Lifecycle
PolygonPoC / excluded
70,000,000 KRW1Lifecycle
AvalanchePoC / excluded
0 KRW1Lifecycle
BNB ChainPoC / excluded
10,000,000 KRW1Lifecycle
PlumePoC / excluded
19,500,000 KRW1Lifecycle
AptosPoC / excluded
30,000,000 KRW1Lifecycle
Methodology

Only the Ethereum commercial contract is counted as operational supply. Earlier PoC deployments remain visible for verification but are excluded because the registry identifies them as not distributed to external users.

The issuer page reports equal issuance and KRW reserves, but currently publishes no monthly CPA certificate link. This limitation remains a warning.

KRWO · GimSwap

KRWO issuance and Open Voucher backing

Counted supply
20,300,000 KRWO
Market price
No active market price
Backing coverage
100%
On-chain voucher backing
₩20,300,000
On-chain

Network evidence

Contract source
Kaia2,007 Open Vouchers
20,070,000 KRWO100%
BNB Chain23 Open Vouchers
230,000 KRWO100%
Methodology

Kaia and BNB issue KRWO natively. QuantField queries each GimSwap contract for its voucher contract, then compares the voucher balance held by GimSwap with KRWO totalSupply. One OV represents ₩10,000.