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Dubai, United Arab Emirates, - OKX, the technology company and crypto exchange at the forefront of building the future of the Web3 ecosystem, today announced in its 15th consecutive Monthly Proof of Reserve (PoR) report that it holds main assets worth $14.9 Billion in user assets reserves with an average reserve ratio of 104% and includes Bitcoin Cash (BCH) for the first time.
OKX’s PoR report provides comprehensive data on reserve ratios for some of the most commonly used assets on the platform, in addition to BCH: ETH, USDT, USDC, XRP, DOGE, SOL, OKB, APT, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX, and UNI. As in previous reports, OKX’s 15th Monthly PoR report also demonstrates a reserve ratio of over 100% for all assets, ensuring that user assets are fully backed at a 1:1 ratio. The current ratios for these main assets on OKX are as follows:
OKX’s Head of Commercial Operations, Lennix Lai, stated in his announcement: “Our Proof of Reserves (PoR) program has become a symbol of transparency and trust in the industry. We are committed to regularly publishing monthly reports, incorporating user feedback, and embracing the best practices in the industry. We take pride in leading the transformation in the crypto space and building a system that derives strength from trust for the future.”
Since the program’s inception, OKX has made several feature updates and improvements to the Proof of Reserves, taking user feedback into account. In April 2023, OKX introduced pro-knowledge Scalable Transparent Argument of Knowledge (zk-STARK) technology to the PoR process. This technology allows users to verify the exchange’s solvency independently, ensures asset backing with reserves, and does all without compromising privacy.
In October 2023, OKX celebrated its first PoR program anniversary with a video that endorsed Proof of Reserves (PoR) as an industry standard. The video featured senior executives from OKX along with influential figures such as Nic Carter (Castle Island Ventures), Scott Welker (The Wolf of All Streets), Sandeep Nailwal (Polygon), Jason Yanowitz (Blockworks), and Zak Brown (McLaren F1 Team).
Users can view OKX’s latest Proof of Reserves Report and verify the exchange’s solvency and reserve rations.
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OKX is a global cryptocurrency exchange and innovative Web3 technology company that is leading in the industry. Trusted by over 50 million users worldwide, OKX is known among traders from all around the world as one of the fastest and most reliable crypto platforms.
With high-profile partnerships such as the English Premier League championships Manchester City FC, McLaren Formula 1, Olympic medalist Scotty James, and F1 driver Daniel Ricciardo, OKX aims to elevate the fan experience through fan-centric collaborations. Additionally, OKX is involved in initiatives to attract more content creators to the Web3 space and is a major partner of the Tribeca Festival.
In the Web3 Wallet platform, OKX offers users products and solutions that enable them to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens.
Furthermore, OKX is committed to transparency and security, consistently publishing its Proof of Reserves Reports every month.
To learn more about OKX, download our app or visit our website: okx.com.