> For the complete documentation index, see [llms.txt](https://docs.brix.money/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.brix.money/itry/backing.md). # Backing iTRY is fully backed by the Digital Liquidity Fund's DLF token, which represents shares of a regulated basket of Turkish money-market funds. iTRY is designed to remain 100% collateralized at all times. Reserves are independently verifiable through [Proof of reserves](/itry/proof-of-reserves.md). {% hint style="info" %} Backing protects collateralization, but does not guarantee consistent yield. Underlying money-market yields can fluctuate. See [Risks](/itry/risks.md). {% endhint %}
Diagram showing iTRY backed by DLF, which represents participation shares in the digital liquidity fund.

Backing flow: iTRY is backed by a tokenized basket of Turkish money market funds.

## Custody iTRY uses a hybrid custody model that combines onchain smart contracts, institutional-grade digital asset custody, and regulated banking partners for underlying money-market fund assets. The primary onchain custodian for iTRY is [Zodia Custody](https://zodia-custody.com/), which safeguards the majority of iTRY's collateral reserves. Zodia is a regulated, institutional-grade digital asset custodian operating under established UK and EU regulatory frameworks and providing custody services to major banks, asset managers, and stablecoin issuers. A limited portion of onchain reserves are held in the Fast Access Vault smart contract which facilitates instant redemptions. For additional details on the Fast Access Vault and custody, see [Collateral Management](/technical/collateral-management.md). iTRY provides daily reserve transparency through a layered disclosure framework. The Digital Liquidity Fund publishes an official NAV each business day via a licensed fund administrator, reflecting the marked-to-market value of all reserve assets. In parallel, iTRY works with Accountable to deliver daily proof-of-reserves reporting, verifying that the circulating iTRY supply is fully backed 1:1 by custodied DLF. In addition, the Digital Liquidity Fund is subject to annual independent audits covering asset existence, valuation, segregation, and internal controls. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.brix.money/itry/backing.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.