FalconX Credit Vault

Senior tranche of the FalconX credit vault on Pareto. USDC is lent to one FalconX borrower wallet, which funds prime-brokerage credit lines. Collateral sits offchain. The junior tranche has no tokens outstanding, so there is no onchain first-loss buffer. This is the vault FalconX announced and that rwa.xyz lists as AA_FalconXUSDC, not Plume's NFALCON or Sygnum's Desygnate. A deprecated Pareto deployment on Optimism is not tracked.

Private creditNon-US professional investors onlyTransfer-restrictedOnchain dataIssued by M11 Credit · Platform Pareto

JSON

Value

$131.5M

Stage

None

Below Stage 0: key facts not disclosed

Single-key powers

Single key holds critical power

Oracle age

6d 18h

On schedule

Used as DeFi collateral

$12.5M· 5 markets

Transparency

Can you see what backs the token, and trust that data?

Red

The only reports are self-reported by the issuer (best: Pareto vault reporting).

The only reports are self-reported by the issuer (best: Pareto vault reporting).

Reports

Rated as private credit, so data must be updated at least monthly, with defaults reported as they happen. The best report counts.

Report	Data comes from	Detail	Updated	Verifiable	Onchain
Pareto vault reporting ParetoCounts	Issuer	Single NAV	monthly	Self-reported	0x433D…be4d

Onchain data is a separate badge, not part of the rating: public data that lives offchain is still transparent to a person. Ladders adapted from Chronicle Labs, "The Transparency Gap in Onchain Finance" (Oct 2026).

Event reporting

Private credit must report defaults as they happen, not at the next periodic report.

Defaults reported as they happen: Not public · searched 25 Oct 2026 Help us find it

Kept private for a reason

Shown as context, never as a penalty.

None recorded.