Gate.io just announced their May 2024 Proof of Reserves report. The report reveals a reserve-deposit ratio of 115.34% and a total reserve value of $6.49 billion. This means Gate.io holds over $860 million more than user deposits, demonstrating their dedication to security and trust.
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For this report, Gate.io expanded coverage to 209 digital assets, the most extensive of any exchange. Users are encouraged to verify their account balance on the Proof of Reserves portal. Here are the key figures:
- Gate Reserves: $6,492,214,095
- User Deposits: $5,628,406,410
- Excess Reserves: $863,807,685
- Reserve-Deposit Ratio: 115.34%
Breakdown of Major Assets:
- BTC: 116.55%
- ETH: 113.43%
- USDT: 105.47%
- USDC: 102.65%
Users can view the May 2024 PoR Report for detailed information.
Commitment to Transparency and Security
Gate.io remains committed to transparency and accountability. Since launching their Proof of Reserves program in 2020, they have continuously improved their methods. Recent enhancements include expanded coverage, more frequent reporting, and improved security using zero-knowledge proofs.
Hacken, a leading blockchain security firm, has audited and praised Gate.io’s Proof of Reserves method. This method is open-source to encourage industry participation.
Verify and Stay Secure
Gate.io invites users to independently verify the report on their Proof of Reserves portal. Ensuring user security and confidence remains a top priority. The platform is committed to transparency and accountability for both users and the industry.
Why It Matters:
- 100% Proof of Reserves: Gate.io is the first mainstream platform to offer this.
- Financial Solvency: The platform is financially solid.
- User Trust: Enhancing user trust and guaranteeing asset security is a priority.
- Cash Out Confidence: Users can withdraw 100% of their assets, even during peak times.
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Gate.io ensures users can have full confidence in their platform. The community’s trust and security are of utmost importance to them, and the latest Proof of Reserves report solidifies their reputation as a reliable and safe exchange.
