> For the complete documentation index, see [llms.txt](https://docs.fenture.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.fenture.io/the-ffd-fenture-finance-dao-token/fully-mortgaged.md).

# Fully mortgaged

FFD is fully mortgaged because it is backed by crypto assets on chain in the scope of Fenture DAO. The intrinsic value of FFD is backed by the protocol’s total asset under management. The treasury will encompass a mixture of BTC, ETH, APT and other coins, which is decided by governance vote.