• OKX, a leading crypto exchange and Web3 technology company, has published its ninth consecutive monthly Proof of Reserves (PoR) report.
• This PoR covers 22 commonly used digital assets and shows that OKX has maintained a reserve ratio exceeding 100% for nine consecutive months.
• OKX provides users with an open-source verification tool to independently verify its solvency and confirm their assets are backed by reserves while maintaining privacy.
OKX Releases 9th Consecutive Proof of Reserves
OKX, a leading crypto exchange by trading volume and Web3 technology company, has released its industry-leading ninth consecutive monthly Proof of Reserves (PoR). The PoR demonstrates that OKX has maintained a reserve ratio exceeding 100% for nine consecutive months across all those assets.
Assets Included in PoR
The PoR covers 22 commonly used digital assets including BTC, ETH, USDT, USDC, XRP, DOGE, SOL, OKB, APT, DASH, DOT, ELF EOS ETC FIL LINK LTC OKT PEOPLE TON TRX UNI. The majority of these reserves are stored in highly secure off-chain cold storage wallets.
Self-Audit Tool for Users
In addition to the monthly PoR report disclosures , OKX also provides users with an open-source self-audit tool that allows them to independently verify its solvency and confirm their assets are backed by reserves while maintaining user privacy. It is estimated that more than 210 thousand addresses have been verified through the self-audit tool since it was first launched in late 2022.
Current Reserve Ratios
The current reserve ratios for each asset are as follows: BTC: 103%, ETH: 103%, USDT: 103%.
Committed to Transparency
OKX Global Chief Commercial Officer Lennix Lai commented on the importance public facing disclosures saying “Public-facing disclosures of both reserves and liabilities are essential to ensure long-term accountability in our industry” He further stressed the need for sustained and consistent disclosures as well as point in time attestations when it comes to maintaining trust within the industry.