Check it yourself. Four reads.

No indexer and no dashboard to trust: four balances and one division give the reserve behind each token.

The formula.

Everything redeemable shares the reserve; tokens already handed back and burned tokens do not.

R ÷ (T − V − D) = reserve per token

Replace the placeholders with the published pair once it exists.

RSPYB held by the reserve

cast call 0x7138b48df7D98D7e3cc221BfE7192D0a178182D8 "balanceOf(address)(uint256)" <reserve> --rpc-url https://bsc-mainnet.public.blastapi.io

TTotal supply of RATCHET

cast call <token> "totalSupply()(uint256)" --rpc-url https://bsc-mainnet.public.blastapi.io

VRATCHET held by the reserve

cast call <token> "balanceOf(address)(uint256)" <reserve> --rpc-url https://bsc-mainnet.public.blastapi.io

DRATCHET at the dead address

cast call <token> "balanceOf(address)(uint256)" 0x000000000000000000000000000000000000dEaD --rpc-url https://bsc-mainnet.public.blastapi.io

redeemableSupply()backingPerToken()previewRedeem(amount)reserve()board()

A read shows the present; every redemption logs the reserve and supply it used.

A token address and a reserve address, together; never a symbol, never a name, never an address announced before launch.

A token called RATCHET with no reserve behind it can exist. Check that the token's tax goes to the published reserve:

The market address must equal the reserve

cast call <tax processor> "marketAddress()(address)" --rpc-url https://bsc-mainnet.public.blastapi.io

Addresses appear here from the deployment record, and nowhere else.