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Our 17th Consecutive Proof of Reserves: USD22.1 Billion in Primary Assets

OKX Learn

Published on Mar 28, 2024

Updated on Jun 03, 2024

2 min read

Today, we're excited to announce the release of our latest Proof of Reserves (PoR) report, demonstrating a total of USD22.1 billion in primary assets backing user funds.

This represents our 17th consecutive month of publishing Proof of Reserves (PoR) reports, which highlight the reserve ratios of the 22 most frequently traded assets on our platform: BTC, ETH, USDT, USDC, XRP, DOGE, SOL, OKB, APT, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX, UNI and BCH. Consistent with our previous reports, our 17th PoR reveals reserve ratios of over 100% for all these assets, providing assurance that user funds are backed 1:1.

The current reserve ratios for our primary assets are as follows:

BTC: 102%
ETH: 104%
USDT: 106%
USDC: 110%

Our Global Chief Commercial Officer, Lennix Lai, said: "Our 17th consecutive PoR reinforces our commitment to trust-building and transparency in the crypto ecosystem. As global crypto adoption accelerates, we believe mechanisms like PoR, which aim to enhance security and transparency, will play a critical role in onboarding the next wave of users. At OKX, we remain dedicated to providing users with trustworthy tools to navigate the new financial landscape confidently."

Since we began our program, we have introduced various updates and improvements to our PoR based on user feedback, earning the highest quality rating among major exchanges by blockchain expert Nic Carter. In 2023, we integrated the Zero-Knowledge Scalable Transparent Argument of Knowledge (zk-STARK) technology into our PoR process. This technology allows users to independently verify the solvency of our exchange while ensuring the backing of their assets by the reserves, without compromising on privacy.

Users can view and interact with our PoR here.

Disclaimer

This content is provided for informational purposes only and may cover products that are not available in your region. It is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold digital assets, or (iii) financial, accounting, legal, or tax advice. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. Information (including market data and statistical information, if any) appearing in this post is for general information purposes only. While all reasonable care has been taken in preparing this data and graphs, no responsibility or liability is accepted for any errors of fact or omission expressed herein. Both OKX Web3 Wallet and OKX NFT Marketplace are subject to separate terms of service at www.okx.com.
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