Gate.io, a number one cryptocurrency alternate and Web3 innovator, has revealed its Could 2024 Proof of Reserves (PoR) report, transparently exhibiting a reserve deduction ratio of 115.34% and a complete reserve worth of $6.49 billion (USD) at completion.
This newest report covers over 209 digital belongings, up 20 from the final report, sustaining the alternate's place as probably the most complete of any alternate. Different key knowledge factors from the report embrace:
Gate.io Whole Reserves: $6,492,214,095
Extra reserves: $863,807,685
Reserve Ratio: 115.34%
Bitcoin: 116.55%
Ethereum: 113.43%
USDT: 105.47%
USDC: 102.65%
Gate.io was one of many first exchanges to decide to PoR in 2020 and has persistently enhanced its reporting methodology since then. Its PoR methodology, which has been audited and praised by main blockchain safety agency Hacken, has additionally been launched as open supply to encourage trade participation. Current upgrades, together with elevated reporting frequency, broader protection, and the introduction of zero-knowledge expertise to enhance privateness and safety, show the alternate's dedication to meticulous reporting and transparency.
“We’re happy to publish our Could 2024 reserve certification report, which underscores our unwavering dedication to transparency and accountability. Our efforts to keep up strong reserve deposit ratios and develop reporting requirements replicate our ongoing efforts to make sure safety and confidence for our customers and the trade,” he mentioned. Dr. Lin Han, Founder and CEO of Gate.io.
Gate.io's Could 2024 reserve report is obtainable on the PoR portal, the place customers can independently confirm whether or not their accounts and deposits are mirrored and entry different related data.
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