At TrueSight DAO, transparency is fundamental to our mission. We believe that understanding the full scope of assets managed across our ecosystem is essential for building trust and making informed decisions. That's why we track and display Assets Under Management (AUM)—a comprehensive metric that captures the total value of all assets managed by TrueSight DAO, including our main ledger treasury and all managed ledgers.
In this post, we'll explain what AUM represents, how it's calculated, what assets are included, and why this metric matters for understanding TrueSight DAO's financial strength and operational scope.
What Is Assets Under Management (AUM)?
Assets Under Management (AUM) is the total USD value of all assets managed by TrueSight DAO across our entire ecosystem. Unlike other metrics that focus on specific components (like the USD Treasury Balance, which only includes main ledger assets), AUM provides a comprehensive view of all assets under TrueSight DAO's management, including:
Main Ledger Assets: Assets held in the main DAO treasury, including off-chain assets (inventory, receivables, cash) and the USDT vault balance on Solana.
Managed Ledger Assets: All assets held across managed ledgers, such as Agroverse Guild Ledgers (AGL), which track inventory and transactions for specific shipments and operations.
By combining these components, AUM gives you a complete picture of the total value of assets that TrueSight DAO is responsible for managing, regardless of which ledger they're tracked on. It's important to note that AUM includes both assets owned by the DAO (in the main ledger) and assets managed by the DAO on behalf of external financiers (in managed ledgers like AGL), providing a comprehensive view of the total operational scope.
Why Track AUM?
AUM serves several important purposes:
Comprehensive Financial Visibility
While the USD Treasury Balance shows assets in the main ledger, AUM reveals the full scope of assets across all ledgers. This is crucial for understanding the true scale of TrueSight DAO's operations and the total value we're managing on behalf of the community.
Operational Transparency
By tracking AUM, we provide transparency into how assets are distributed across different ledgers and operations. This helps community members understand where assets are located and how they're being managed.
Ecosystem Growth Tracking
AUM grows as we add new managed ledgers, acquire new inventory, or expand operations. By monitoring AUM over time, we can track the overall growth of the TrueSight DAO ecosystem.
Risk Management
Understanding the total value of assets under management helps us assess operational risk and ensure we have appropriate safeguards in place across all ledgers.
How Is AUM Calculated?
AUM is calculated using a straightforward formula:
AUM = Main Ledger Assets + All Managed Ledger Assets
Let's break down each component:
Main Ledger Assets
What It Includes: The main ledger assets represent the core treasury of TrueSight DAO, consisting of:
Off-Chain Assets: Physical inventory (such as cacao products), receivables, cash, and other tangible assets tracked in the off-chain asset balance sheet. These assets are valued in USD based on their current market prices or cost basis.
USDT Vault Balance: The balance of USDT (Tether) held in TrueSight DAO's Solana vault. This represents liquid reserves that can be used for operations, buy-backs, or other treasury activities.
How It's Calculated: We sum the total USD value from the off-chain asset balance sheet and add the current USDT vault balance. This gives us the total value of assets in the main DAO treasury.
Where to View: You can explore the main ledger assets through:
- Off-Chain Asset Balance — Shows detailed breakdown of physical assets and their USD values
- Contributions Ledger — Shows all transactions and contributions to the main ledger
- Physical Assets — Detailed view of physical inventory and assets
Managed Ledger Assets
What It Includes: Managed ledgers are separate ledgers that track assets for specific operations, projects, or shipments. The most common type of managed ledger in TrueSight DAO is the Agroverse Guild Ledger (AGL), which tracks inventory and transactions for specific cacao shipments from the Amazon rainforest in Brazil for retail sale.
Important Distinction: It's crucial to understand that assets in AGL ledgers are not necessarily funds belonging to the DAO. Often, these assets are provided by external financiers who fund shipments of cacao from the Amazon rainforest in Brazil for retail sale. TrueSight DAO manages these assets on behalf of the financiers, tracking inventory, sales, and transactions through the AGL ledger system. This is why we use the term "Assets Under Management" rather than "Assets Owned"—AUM includes both assets owned by the DAO and assets managed by the DAO on behalf of external parties.
Each managed ledger has a "Balance" sheet that lists all assets held in that ledger, including:
USD-denominated assets (cash, receivables)
Physical inventory (cacao products, packaging materials, etc.) valued in USD using exchange rates from the Currencies sheet
Other assets tracked in the ledger
How It's Calculated: For each managed ledger, we:
Access the ledger's "Balance" sheet
Sum all USD-denominated assets (where the currency column equals "USD")
For non-USD assets, we convert them to USD using exchange rates from the Currencies sheet, which provides the USD price per unit for each product or currency type
Sum all converted values to get the total USD value for that ledger
We then sum the totals from all managed ledgers to get the total managed ledger assets component of AUM.
Currency Conversion: When a managed ledger contains assets in non-USD currencies (such as specific product types like "Ceremonial Cacao Kraft Pouch - 8oz"), we look up the USD price per unit in the Currencies sheet. We then multiply the quantity by the price per unit to get the USD value. For example, if a ledger has 100 units of a product priced at $25 per unit, that contributes $2,500 to AUM.
Where to View: You can explore managed ledgers through:
- Agroverse Community — Overview of the Agroverse project and managed ledgers
- AGL Ledger — Access to Agroverse Guild Ledgers
- Shipment History — Track shipments and their associated ledgers
Example AUM Calculation
Let's walk through a simplified example:
Main Ledger Assets:
- Off-chain assets: $50,000 (inventory, cash, receivables)
- USDT vault balance: $10,000
- Total Main Ledger Assets: $60,000
Managed Ledger Assets:
- AGL-14 ledger: $25,000 (USD assets + converted product inventory)
- AGL-13 ledger: $15,000 (USD assets + converted product inventory)
- AGL-12 ledger: $8,000 (USD assets + converted product inventory)
- Total Managed Ledger Assets: $48,000
Total AUM = $60,000 + $48,000 = $108,000
How AUM Updates
AUM is calculated and updated automatically through our performance statistics sync process. The calculation:
Fetches the latest off-chain asset balance and USDT vault balance for the main ledger
Retrieves all managed ledger URLs from our shipment ledger listing
For each managed ledger, accesses the Balance sheet and sums all assets (converting non-USD assets using exchange rates)
Combines main ledger and managed ledger totals to get AUM
Updates the AUM value in our Performance Statistics sheet and Monthly Statistics sheet
AUM is updated whenever we run our performance statistics sync, ensuring the metric reflects the most current asset values across all ledgers.
AUM vs. Other Metrics
It's helpful to understand how AUM relates to other metrics displayed on our landing page:
AUM vs. USD Treasury Balance
USD Treasury Balance shows only the assets in the main DAO treasury (off-chain assets + USDT vault). AUM includes these assets plus all assets in managed ledgers, providing a more comprehensive view of total assets under management.
AUM vs. Asset Per TDG Issued
Asset Per TDG Issued divides the USD Treasury Balance by the number of TDG tokens issued, showing the asset backing per token in the main treasury. AUM shows the total value of all assets managed, regardless of token issuance. AUM gives you the full picture of assets under management, while Asset Per TDG Issued shows the backing ratio for the main treasury.
Why AUM Matters
AUM is a critical metric for several reasons:
Operational Scale
AUM reveals the true scale of TrueSight DAO's operations. By including assets from all ledgers—both those owned by the DAO and those managed on behalf of external financiers—it shows the full scope of what we're managing, not just what's in the main treasury. This includes our role in facilitating cacao shipments from the Amazon rainforest in Brazil, where we manage assets provided by external financiers for retail sale.
Ecosystem Growth
As we add new managed ledgers, acquire inventory, or expand operations, AUM grows. Tracking AUM over time provides a clear picture of ecosystem expansion.
Transparency and Trust
By publicly displaying AUM and providing links to the underlying data sources, we demonstrate our commitment to transparency. Community members can verify the calculation and explore the assets themselves.
Financial Planning
Understanding the total value of assets under management helps with financial planning, risk assessment, and strategic decision-making. It provides a comprehensive view of TrueSight DAO's financial position.
Exploring AUM Components
Want to dive deeper into the assets that make up AUM? Here are the key resources:
Main Ledger Assets
- Off-Chain Asset Balance — Detailed breakdown of physical assets and their USD values
- Contributions Ledger — All transactions and contributions to the main ledger
- Physical Assets — Detailed view of physical inventory
- Asset Location — Where physical assets are located
Managed Ledger Assets
- Agroverse Community — Overview of managed ledgers and operations
- AGL Ledger — Access to Agroverse Guild Ledgers
- Shipment History — Track shipments and their associated ledgers
Supporting Data
- Currencies — Exchange rates used for converting non-USD assets to USD
- Financial Records — Detailed transaction history
Monthly AUM Tracking
In addition to the current AUM value displayed on our landing page, we also track AUM over time in our Monthly Statistics sheet. This allows us to:
Monitor AUM growth trends month over month
Analyze how AUM changes as we add new managed ledgers or acquire new assets
Provide historical context for understanding ecosystem growth
Each month, we record the AUM value alongside other monthly statistics, creating a historical record of how total assets under management have evolved over time.
Looking Ahead
As TrueSight DAO continues to grow, AUM will evolve to reflect new managed ledgers, expanded operations, and increased asset holdings. By tracking AUM transparently and providing access to the underlying data, we ensure that our community has a clear understanding of the full scope of assets under management.
Whether you're a community member, potential contributor, or simply curious about TrueSight DAO's operations, AUM provides a comprehensive view of our financial strength and operational scale. It's not just a number—it's a reflection of the value we're building together.
Join the Movement
Ready to explore more? Dive into TrueSight DAO's vision and discover how you can contribute to a purpose-driven economy. Have questions about AUM, our asset management, or how to get involved? Reach out—we're here to walk this path together.
Together, we're shaping a future that matters.