To everyone’s surprise, OKX, a leading global web3 technology company, has announced the presence of $10.4 Billion in verified reserves in the 10th Monthly Proof of Reserves (PoR). The crypto exchange published its impressive PoR, reflecting its commitment to transparency and accountability.
The Latest PoR
From its integration with KiloEx, OKX is certainly managing to keep the hype alive. As per the official report, OKX’s current POR is $10.4B. Keeping up with its commitment to transparency and accountability, the platform came forward with these high-end numbers. With a total balance high like this one, the company has reaffirmed its robust financial position. This milestone is indeed an internal one; in fact, it sets the platform apart from its competitors in the industry.
he PoR covers the 22 most commonly used digital assets and has been able to show that the firm maintains a reserve ratio exceeding 100% for ten consecutive months across all these assets. The assets that have been named include Bitcoin (BTC), Ethereum ( ETH), and Tether (USDT); others are USDC, XRP, DOGE, SOL, OKB, APT, DASH, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX, and UNI.
The current reserve ratio for the major cryptocurrencies is 102% for BTC, 102% for ETH, and 103% for USDT.On this magnificent achievement, OKX Global Chief Commercial Officer Lennix Lai commented.
“OKX’s ten consecutive monthly PoR snapshots have coincided with a 38% increase in assets under management on OKX, showing that our keen focus on transparency is resonating with users. We asked our community how important PoR and transparency from exchanges are to them, and the results were as expected – users continue to call for monthly PoR and greater transparency. At OKX, we take user feedback to heart and will continue to invest in future tools for security and transparency in order to continue earning user trust.”
All in all, OKX’s commitment to ongoing transparency and security is worth applauding. As the platform continues to allow the public to view its asset flows and explore future tools to enhance security and transparency, the world of Web3 is certain to grow.