This latest report marks the two-year anniversary of our PoR program, setting us apart as one of the few exchanges that consistently publishes PoR reports on a monthly basis
To commemorate the two-year anniversary of our PoR program, we have launched an educational video on "How to Verify Proof of Reserves"
We've just published our 24th consecutive Proof of Reserves (PoR) report, showcasing USD20.3 billion in primary assets. This latest report marks the two-year anniversary of our PoR program, setting us apart as one of the few exchanges that consistently publishes PoR reports on a monthly basis.
To commemorate the two-year anniversary of our PoR program, we have launched an educational video on "How to Verify Proof of Reserves". The video encourages customers to engage with our PoR tool, putting into practice the crypto community's ethos of "Don't Trust, Verify." To date, more than 2 million people have interacted with our PoR verification tool.
Our PoR program is a key component of our comprehensive security framework, which includes:
Advanced encryption technologies and strict access controls
A robust incident response plan
A multi-billion-dollar insurance fund, serving as a dedicated reserve pool to protect customers from excessive loss and auto-deleveraging for specific trading products*
Advanced, AI-powered safety tools, such as SkyNet, an AI blockchain scanning tool that identifies and flags malicious actors
We continue to maintain over 100% reserve ratios for 22 of the most frequently traded assets on our platform; the current reserve ratios for primary assets on our platform are:
BTC: 104%
ETH: 102%
USDT: 106%
USDC: 100%
Our approach to PoR has been continuously improved, and has received the highest quality rating among major exchanges by blockchain expert Nic Carter. Last month, we demonstrated our commitment to continuous improvement by significantly optimizing our PoR process, leading to a reduction in the proof file size from 2.55GB to 598KB. This enhancement not only allows for faster and more efficient verification but also reflects our ongoing efforts to refine and strengthen our PoR program.
For more information about our PoR and other security measures, visit: https://www.okx.com/landingpage/beyond-proof-of-reserves
*Available in specific markets only
© 2024 OKX. This article may be reproduced or distributed in its entirety, or excerpts of 100 words or less of this article may be used, provided such use is non-commercial. Any reproduction or distribution of the entire article must also prominently state: “This article is © 2024 OKX and is used with permission.” Permitted excerpts must cite to the name of the article and include attribution, for example “Article Name, [author name if applicable], © 2024 OKX.” No derivative works or other uses of this article are permitted.
