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How can I verify my eCash notes are backed 1:1 by sats?

Chaumian eCash is fundamentally un-auditable by design, and while you can see the total assets / reserves of public federations on Fedimint Observer, this does not display federation liabilities (issued eCash).

In any case, Fedimint Observer relies on the federations themselves for information on their reserves, which is why fedimints ultimately still require trust; the trust model is just different and federated.

This is why it is recommended to only use federations in accordance with your level of trust in the federation guardians.

If you are using public federations where you do not know the guardians personally, a simple stress test you can perform is to periodically rotate your balance out of a mint to ensure transfers are processed without issue.

That said, keep in mind that transactions may fail for reasons other than malicious guardians, ie low liquidity on the federation's LN gateway, etc.

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