Jan. twenty fourth, Panama – Gate.io, a number one crypto alternate and Web3 innovator, has launched its January 2024 Proof of Reserves (PoR), verifiably demonstrating $4.3 billion in whole held belongings with a ratio of 115.47%, representing over $584 million retained in extra of person deposits. The newest report additionally demonstrates a rise of $1.1 billion in worth because the earlier report this previous November and marks the fourth yr Gate.io has produced user-verifiable PoR.
Gate.io’s latest report covers greater than 171 digital belongings, probably the most of any alternate. An extra 59 belongings have been included because the earlier report, 26 of that are BRC-20 tokens, together with SATS, ORDI, MUBI, TRAC, NALS, PIZA (PIZABRC), PEPE (PEPEBRC), and others. Every of the 171 belongings is reported to have a reserve ratio of ≥100%. Further key knowledge from the report contains:
- Complete Reserve Worth: 4,363,990,957 USD
- Further Reserves: 584,704,086 USD
- Complete Reserve Ratio: 115.47%
- BTC: 127.33%
- ETH: 120.54%
- USDT: 101.30%
- USDC: 129.34%
Dr. Lin Han, Founder and CEO of Gate.io, stated: “Transparency issues for people and trade integrity. It ensures customers can safely and confidently take part available in the market and promotes greatest practices amongst exchanges. We’ll regularly reply to enter from customers, exterior specialists, and friends to make sure safety, privateness, and transparency in our reserves reporting.”
Gate.io’s PoR Technique Praised by Auditor
Late final yr, Gate.io launched important zero-knowledge verifiability and privateness upgrades to its PoR, expanded the checklist of mirrored belongings, and dedicated to extra common reporting. A January audit by the famend blockchain safety agency Hacken praised the brand new technique as “a testomony to a robust basis in cryptographic implementation,” discovering that it contributes “considerably to the sector.”
Gate.io has been conducting PoR since 2020 when it turned one of many first to provide third-party audited, use-verifiable PoR with a Merkle tree method. This was repeated in 2022 earlier than FTX’s collapse, when Gate.io inspired others to observe, releasing its technique as open supply. The November 2023 report utilized the beforehand talked about upgrades, making Gate.io’s PoR probably the most intensive of any alternate.
Gate.io’s January 2024 reserves report knowledge is accessible on its PoR portal, the place customers can independently confirm whether or not their account and deposits have been mirrored and consider different detailed info.
Established in 2013, Gate.io is likely one of the world’s earliest cryptocurrency exchanges and a pacesetter amongst compliant and safe digital asset platforms, providing various buying and selling companies with 100% user-verifiable Proof of Reserves. Additional, the platform has persistently ranked as one of many high 10 cryptocurrency exchanges primarily based on liquidity and buying and selling quantity on CoinGecko. In addition to its major alternate companies, Gate.io has diversified its ecosystem to supply decentralized finance, analysis and analytics, enterprise capital investing, pockets companies, startup incubation, and extra. The platform at present serves greater than 13 million lively customers worldwide.
Press Contact: Elaine Wang
E-mail: [email protected]
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