Victoria, Seychelles, Jan. 19, 2023 (Globe Newswire) – A.J OKXthe world’s second largest cryptocurrency exchange by trading volume, today published its third monthly cryptocurrency report. Proof of reservation (PoR), which shows that the exchange holds $7.5 billion worth of BTC, ETH, and USDT. It is the largest pool of 100% clean assets among major exchanges, according to third-party data.
Among the new highlights of this month’s PoR report is a dashboard with deeper analysis of asset balances, allowing users to see how total equity is calculated in BTC, ETH, and USDT products.
In Proof of Reserves valuations, assets are considered “clean” when external analysis is able to determine that the reserves do not include the exchange’s own platform token, which consists exclusively of “traditional” crypto assets with high market capitalization, such as BTC, ETH and USDT. according to CryptoQuantOKX Assets, a blockchain analytics provider that monitors Proof of Reserves across the crypto industry.100% clean. “
As with all previous reports, users can access OKX’s January PoR on the exchange’s website, including holding ratios based on new and historical data. Reservations and commitments can be self-verified using unreliable tools (no intermediaries) on the OKX website.
According to OKX CMO Haider Rafique: Integrity, transparency and trust are the cornerstones of OKX’s business process and service philosophy. By publishing our monthly PoR report, we have already occupied a leading position. By standardizing industry PoR, we expect the quality of our asset reserves to become one of the key factors differentiating OKX in the market.”
OKX always holds reserves at a ratio of 1:1. OKX’s current booking ratios are:
- Bitcoin: 105%
- ETH: 105%
- USDT: 101%
OKX has published more than 23,000 addresses in its Merkle tree-based PoR program and will continue to use these addresses to publicly disclose asset movements. OKX PoR protocol is open source and available at github. Other components of OKX’s proprietary rights can be found at Nansen OKX board.
As part of its commitment to transparency, OKX will continue to publish monthly Proof of Reservation reports.
For more information, write to firstname.lastname@example.org
What is proof of booking?
Proof of Hold is proof that a particular entity (in this case, OKX) actually owns the assets it claims to hold on behalf of its clients. OKX uses the Merkle Tree (hash tree) system to prove their reserves in two ways: First, users can look up their balance in the tree and prove that their assets are already in OKX’s total balance. Second, the total OKX balance is compared to the published balance of the exchange’s on-chain wallet, thus creating Proof of Reserves.
OKX is among the world’s leading technology companies, building the future of Web3. Known as the largest and most trusted crypto trading platform for professional investors and traders worldwide, crypto exchange OKX is the second largest company in the world in terms of trading volume.
One of OKX’s advanced self-custodial solutions is OKX Walletwhich is Web3-compliant, gives users greater control over their assets while expanding access to DEXs, NFT markets, DeFi, GameFi, and thousands of dApps.
OKX has partnered with many world-renowned brands and athletes, including: Manchester City (the Premier League champion team), McLaren Formula 1, Tribeca Festival, golfer Ian Poulter, Olympic athlete Scotty James and Formula One driver Daniel Ricciardo.
OKX is committed to transparency and security and thus publishes Reservation proofs Per month.
To learn more about OKX, download our app or visit: okx.com
This advertisement is provided for informational purposes only. It does not constitute investment, tax or legal advice and should not be construed as an offer to buy, sell or hold Digital Assets. Digital assets, including stablecoins, carry a high level of risk and can fluctuate wildly and even lose all value. Evaluate whether trading or pooling digital assets is right for you and your financial circumstances. Consult your legal, tax or investment advice if you have questions about your specific situation.
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