



Dr. Nouriel Roubini on the philosophy behind Atlas AI Labs.
USAFi is pre-launch; the underlying USAF ETF is live and SEC-registered. USAFi is not a stablecoin: it holds no dollar peg, its NAV floats with the basket, and its value can fall.
Why a new store of value
Across history people have met those conditions with different instruments: food, then gold for most of recorded history, then government paper through the twentieth century, then equities and diversified indices through pension funds and retirement accounts. Land has run alongside all of them. Each instrument was unlocked by a technology of its time, from metallurgy and the assay to the printing press, the joint-stock company, and modern computing. Every era meets the same four conditions with new instruments. The reserve set this generation inherited (sovereign debt, equities, real estate, and gold) no longer satisfies all four at once. Two technologies now make the next step possible. Blockchain makes ownership verifiable and settlement global. AI can test, monitor, and update allocation evidence faster than any human committee. Together they make a new store of value possible: a single instrument that holds all the old ones, uses AI to inform how they are balanced, and distributes them in a programmable, on-chain form. The goal is preservation, not outperformance: stable value across inflation, growth shocks, and geopolitical stress. A quantitative model, with AI assisting the research behind it, reallocates across these sleeves as the macro regime shifts, with the aim of dampening volatility and limiting drawdowns. The Investment Committee, chaired by Dr. Nouriel Roubini, approves every allocation: the system proposes, the Committee decides.Engineering a durable store of value
Each of the four conditions maps to a property USAFi is built to provide.Stable
The basket consolidates the dominant stores of value into one instrument, and a model maintains the allocation against shifting correlations, rate volatility, and policy shocks to dampen drawdowns. (USAFi is NOT a stablecoin.)
Liquid
Claims clear on chain and compose with the wider on-chain economy. Redemptions run against the underlying ETF, anchoring the token to some of the deepest pools in global markets.
Verifiable
USAF is registered with the SEC and custodied at BNY Mellon. An independent verifier (named at launch) produces PoR attestations on a defined schedule, reconciling the on-chain token supply against the off-chain custody record, and Atlas publishes each attestation.
Scarce
Every USAFi 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. It is a claim backed by that collateral, with redemption under VARA’s Recovery and Resolution framework.

