Authored by OKX Chief Marketing Officer Haider Rafique
Today, I'm very proud to announce that we published our 11th consecutive monthly Proof of Reserves (PoR), showing balances of USD$11.2 billion in primary assets. This came days after our PoR was given the highest quality rating among major exchanges by blockchain expert Nic Carter.
In his ranking, Nic cited our credibility, his knowledge of our leadership, our demonstrated commitment to transparency and overall PoR quality as reasons for his positive assessment.
Our PoR covers 22 commonly used digital assets and shows that we have maintained a reserve ratio exceeding 100% for 11 consecutive months across all those assets. In addition to BTC, ETH and USDT, the assets included are: USDC, XRP, DOGE, SOL, OKB, APT, DASH, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX and UNI. Our current reserve ratios are as follows:
BTC: 102%
ETH: 103%
USDT: 102%
We have invested an incredible amount of time and resources in developing the best PoR in the industry, and the statistics show that crypto users value this. In August, we conducted two Twitter surveys to measure the sentiment of the online community with regards to the importance of PoR and transparency. Poll results showed that 84% of respondents say monthly PoR reports are either 'somewhat important' or 'very important' and 88% state that transparency is either 'somewhat important' or 'very important' when choosing which crypto platform to trust.
We've seen hundreds of thousands of users engage with our PoR, visit our PoR page and view their self-audits since late 2022. The open-source verification tool allows users to independently verify our solvency and confirm their assets are backed by our reserves while maintaining their privacy.
At OKX, we believe that integrity is the cornerstone of our success, and our PoR stands as a testament to our dedication to safeguarding user assets. As we approach a full calendar year of consecutive PoR releases, we have never been more committed to continuing to raise the bar for transparency in our sector.
Users can view the latest PoR report, reserve ratios, and verify our solvency here.
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