Gate.io, a number one crypto change and Web3 innovator, has revealed its Might 2024 Proof of Reserves (PoR) report, transparently demonstrating a reserve-to-deposit ratio of 115.34% and a complete reserve worth of $6.49 billion (USD) at completion.
This newest report covers greater than 209 digital belongings, a rise of 20 from the earlier report, sustaining its place as probably the most complete change. Different key takeaways from the report embrace:
Gate.io whole reserves: $6,492,214,095
Extra reserves: $863,807,685
Reserve-deposit ratio: 115.34%
BTC: 116.55%
ETH: 113.43%
USDT: 105.47%
USDC: 102.65%
Gate.io was one of many first exchanges to decide to PoR in 2020 and has been constantly bettering its reporting strategies ever since. Its PoR methodology, audited and praised by main blockchain safety agency Hacken, has additionally been launched as open-source to encourage business involvement. Newer upgrades, similar to elevated reporting frequency, wider protection and the introduction of zero-knowledge expertise for higher privateness and safety, reveal the change's dedication to diligent reporting and transparency.
“We’re happy to share the publication of our Might 2024 Proof of Reserves report, which underscores our unwavering dedication to transparency and accountability. Our dedication to sustaining a robust reserve-to-deposit ratio and increasing our reporting requirements displays our continued efforts to make sure the security and confidence of our customers and the business,” he mentioned Founder and CEO of Gate.io Dr. Lin Han.
Gate.io's Might 2024 reserves report is accessible on its PoR portal. Customers can independently confirm that their accounts and deposits have been accounted for and entry different associated data.
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