Skip to main content
The questions holders ask most, with short answers. The linked pages carry the full detail.

​
The basics

USAF is the fund, an SEC-registered ETF on Nasdaq that holds the basket. USAFi is the token, the on-chain expression of that same fund, backed by USAF shares. One basket, one NAV, two layers.
USAFi is not a stablecoin. A stablecoin holds one asset and pegs to a dollar; it moves value but does not preserve it. USAFi holds a diversified basket and floats its NAV against the dollar, so it is built to keep purchasing power as the dollar itself erodes. The stablecoin is the medium of exchange; USAFi is the reserve beneath it.
Not yet. Atlas AI Labs holds VARA In-Principle Approval and will issue USAFi on conversion to a full Issuance License. The underlying fund, USAF, is already live, SEC-registered, and listed on Nasdaq.

​
Access

USAFi is for eligible non-U.S. holders who complete KYC and AML onboarding and pass sanctions and jurisdictional screening. It is not offered, sold, or marketed in the United States.
USAFi is pre-launch, so it is not yet available to buy. At launch, eligible holders will onboard through a VARA-licensed distributor or exchange, clear KYC and AML, and receive tokens the Issuer mints against the matching ETF shares.
As the holder of record, you initiate redemption on chain. The Issuer burns the tokens, releases the matching ETF units, and settles you in cash against the reserve. You can start at any time, though settlement follows market hours and custody cutoffs.
You hold the economic exposure, but the right to redeem attaches to the KYC’d holder of record at the Issuer. To redeem, you first complete onboarding yourself.
USAFi is an ERC-20 with an issuer freeze function. Primary issuance is only to VARA-licensed distributors who KYC their customers; secondary peer-to-peer transfers are permitted except to blacklisted or sanctioned addresses. There is no investor whitelist; eligibility is enforced at the distributor layer and by the freeze function.
Secondary liquidity may be available at launch through third-party market makers. That is not issuer redemption and carries no guarantee of execution, price, or availability. Issuer redemption settles in cash during market hours.

​
Backing and cost

Every token is backed by USAF ETF shares held in segregated custody at BNY Mellon, ring-fenced and bankruptcy-remote from the Issuer’s operations, not commingled with the Issuer’s assets, and reserved for token holders. An independent verifier (named at launch) produces proof-of-reserve attestations on a defined schedule against the custody record, and Atlas publishes each one, so you can check the backing rather than trust it.
USAFi is built for preservation, not for a fixed yield. Any distributions follow the underlying ETF’s schedule, and your return comes from the basket’s NAV rather than a set rate.
Two layers: a 75-basis-point annual management fee on the USAF ETF and a 60-basis-point issuance fee on the token (about 1.35% all-in). The fee pays for active allocation and regulatory maintenance across both the SEC and VARA, not passive index tracking.

​
Allocation and risk

No. Allocation runs on classical statistical and machine-learning models, while AI agents handle research, validation, and scenario work one layer up. No language model has autonomous allocation authority, and the Investment Committee approves every allocation before it deploys.
That is not the goal. USAFi is built to preserve value across regimes, so it will trail equities when stocks rise and inflation falls. Its aim is to hold value when holding it is hardest.
Your claim is contractual against the Issuer, but the ETF shares that back it sit in segregated custody at BNY Mellon, ring-fenced and bankruptcy-remote from the Issuer’s operations, not commingled, and reserved for token holders. Redemption runs under VARA’s Recovery and Resolution framework.