Coverage crosses 199% on DSSx

DSSx coverage has crossed 199%. Attested shares in custody now sit at nearly twice the tokens outstanding — the backing page reads 199.9% live, and anyone can check it on-chain.

Coverage is not a marketing number. It is the backing invariant made visible: token supply times the multiplier, divided by 1e18, must stay at or below the attested shares held at the custodian. DSSx clears that with room to spare.

The invariant is enforced at every single mint, not audited after the fact. Only the market maker mints and redeems, and only against attested custody. A mint that would push supply past attested shares reverts on-chain.

This is what backed 1:1 means in practice. One token is one share. Not one dollar. No rebase, ever. Over-coverage is simply the SPV holding more settled shares than it has minted against. Read it yourself on /stocks/.