CREDITS AND SOURCES
THE BITCOIN CREDIT STACK
Version: 0.2 · Effective date: 21 October 2026
1. Purpose
This page names every source the values published by The Bitcoin Credit Stack rest on, the status of its terms of use and the credit it asks for. Every value served by the API or the MCP server names its own sources; this page is the complete list, readable by a person.
2. The four statuses
Each source has one of the four statuses below. A value's status is the strictest of its sources'; a series' status is the strictest of its values' over the window read.
| Source status | What it means | Label the value carries | In a paid answer |
|---|---|---|---|
own |
An observation by Aletheia Analytics: our own reads, or published facts we record with their source and date | own |
priced |
attributed |
A third-party source whose terms allow resale on condition that it is credited | attributed |
priced, with the credit |
restricted |
A third-party source whose terms forbid resale | free_attributed_only |
served free, with the source named and its credit; never sold |
unknown (terms not established) |
A third-party source whose terms have not been read or do not allow resale; treated as restricted | unknown_terms |
served free, with the source named; never sold |
A restricted or unknown_terms value is never placed in a sold file or a bulk file. A source whose id is not in the register is treated as unknown.
3. Our own observations (own)
None of these sources asks for a third-party credit. Citing our own values is governed by the data licence.
| Id | Source | What it provides |
|---|---|---|
node |
Aletheia's Bitcoin node | The Bitcoin chain series and indicators, bitcoin reserves read on chain, miners' revenue |
contract_reads |
Our reads of on-chain contracts | The state of on-chain lending venues, the liquidation map, the reference price read on chain |
onchain_fixing |
Our on-chain bitcoin price fixing | The bitcoin dollar price used to value series from 13 July 2020, and to convert debts into bitcoin |
gavel |
Gavel Protocol auctions, read on chain | Gavel's auction rate curve. Aletheia Analytics holds positions on Gavel; this is stated on Gavel's row |
desk_card |
Desks' published rate cards | The rates posted by centralised lenders, recorded as published facts with their source and date |
sec_edgar |
Issuers' SEC filings | The instruments of companies that hold bitcoin, and their declared holdings |
issuer_filings |
Issuers' own filings and releases (SEC, TDnet, company releases) | Each company's bitcoin holdings as filed, including companies that do not file with the SEC |
fund_issuers |
Fund issuers' own holdings files and periodic reports | The spot funds' bitcoin holdings |
4. Credited sources (attributed)
These values may be sold; every answer that carries them reproduces the credit below, and any reuse must keep it.
| Id | Source | What it provides | Credit asked for (text served) | Link |
|---|---|---|---|---|
frb_h15 |
Federal Reserve Board H.15 (Board of Governors of the Federal Reserve System) | US Treasury bill and bond yields, federal funds rate, prime rate, the Federal Reserve's balance sheet (H.4.1), M2 (H.6) | "Source: Board of Governors of the Federal Reserve System (H.15, H.4.1, H.6)." | https://www.federalreserve.gov/releases/h15/ |
frb_h10 |
Federal Reserve Board H.10 (Board of Governors of the Federal Reserve System) | Exchange rates used to convert non-dollar amounts into US dollars | "Source: Board of Governors of the Federal Reserve System (H.10)." | https://www.federalreserve.gov/releases/h10/ |
nyfed |
Federal Reserve Bank of New York | SOFR, EFFR and ON RRP | "SOFR, EFFR and ON RRP data are subject to the Terms of Use posted at newyorkfed.org. The New York Fed is not responsible for publication of these data by Aletheia Analytics, does not sanction or endorse any particular republication, and has no liability for your use. Aletheia Analytics is not affiliated with the New York Fed. SOFR is calculated using data provided under a license granted to the New York Fed by DTCC Solutions LLC." | https://www.newyorkfed.org/markets/reference-rates |
iex |
IEX HIST | Companies' preferred-share prices (last regular-session trade on IEX) and the yields computed from them | "Data provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use." | https://www.iex.io/legal/hist-data-terms |
(The French text carries an informative French translation of the New York Fed and IEX credits; only the English texts above are served.)
5. Restricted sources (restricted)
These values are served free, with their source named and, where it asks for one, its credit. They are never sold.
| Id | Source | What it provides | Credit (text served) | Link |
|---|---|---|---|---|
coingecko |
CoinGecko | The bitcoin dollar price at the time of reading; market capitalisation and the total capitalisation of stablecoins; part of the price history before 13 July 2020 | "Powered by CoinGecko" | https://www.coingecko.com |
binance |
Binance public market data | Part of the bitcoin price history before 13 July 2020; the BTC/USDT hourly price, named by default for the credit tree's series until their writers record their sources venue by venue | "BTC/USDT hourly price from Binance public market data." | https://www.binance.com |
cryptocompare |
CryptoCompare | Part of the bitcoin price history before 13 July 2020 | no credit recorded in the register | — |
wbtc_api |
WBTC issuer website (wbtc.network) | WBTC's reserve addresses and reported supply as read before 21 October 2026; since then the reserves are read on chain and the supply from the token's contract | "Reserve addresses and reported supply read from wbtc.network before 2026-10-21; shown free, never sold." | https://wbtc.network |
The chain indicators valued in dollars (realised capitalisation, realised price, MVRV, SOPR) rest on our node, our fixing and, for dates before 13 July 2020, these three sources; they therefore carry the label free_attributed_only.
6. Sources whose terms are not established (unknown)
These values are served free, with their source named. They are never sold until the source's terms are established.
| Id | Source | What it provides |
|---|---|---|
defillama |
DefiLlama | Named by default for the credit tree's series and for the algorithmic and minted-token curves, until their writers record their sources value by value |
morpho_api |
Morpho API (api.morpho.org) | Named by default for the same series as DefiLlama |
coins_llama |
DefiLlama prices (coins.llama.fi) | The price conversions of the liquidation map for Compound v3 (Comet) venues and the roll-ups that contain them |
7. Where the credits appear
a) Series (/v1/series/values, MCP tool get_series, charts): each series carries a licence block (status, providers with each source's id, name and status, and a plain note except for own); the credits of its sources are listed once per source in the answer.
b) Other API routes: routes that serve a value from a provider asking for a credit carry an attribution field with the credit, the link and what it covers — the CoinGecko price, the Federal Reserve Board's and the New York Fed's rates, IEX prices and yields, H.10 exchange rates. The mapping between routes and credits is kept in one place, lib/attribution.js (ROUTES).
c) Absences: an answer that holds only an absence (none of the provider's data) carries no credit, since it holds nothing of the provider's.
d) Site: pages that show a credited value display the credit read from the API's answer.
Where a value names its sources in its answer, that answer states on what terms it may be reused.
8. How this page is built
This page is built from the code, not written beside it, so that it cannot drift from it:
- The register —
gavel-indexerlib/providers.js, objectREGISTER: for each source, the id, the name, the status and, where there is one, the credit. The tables of Articles 3 to 6 are its transcription, one row per entry, in register order (19 entries at the commit named in the header). - The credits —
gavel-indexerlib/attribution.js: the constantsBOARD,BOARD_H10,NYFED,IEX,COINGECKO,BINANCE_PRICE(fieldstext,url,covers). The credit texts of Articles 4 and 5 are copied from them word for word. - What each source provides — the default providers in
lib/providers.js(defaultProviders,LEGACY_PRICE,TREE), the writers' table indata/specs/licence_providers_v1.md§4 and the credits'coversfield, put in readers' words. - Where the credits appear —
lib/attribution.js(ROUTES,attributionMiddleware) andcredit-complex/series-layer.js.
A new version is built at every change to the register or the credits: re-read both files at the commit in production, rebuild the tables from REGISTER (for example: node -e "const {REGISTER}=require('./lib/providers.js'); for (const [id,p] of Object.entries(REGISTER)) console.log(id, p.status, p.name, p.credit?.text ?? '-', p.credit?.url ?? '-')"), record the commit in the header and date the version. A source changes status only by a reasoned edit to the register (its terms read, a licence bought, counsel's answer).