OKX has reported its Proof-of-Reserves (PoR) for the primary time revealing $7.5 billion in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), based on its January PoR report on Jan. 19.
OKX is the one one among the many prime 5 exchanges with “100% clear” reserves, based on CryptoQuant — a time period bestowed when an trade’s reserves don’t embrace the trade’s native token.
OKX reserves
OKX has over-collateralized reserves with a reserve ratio of 105% every for BTC and ETH, whereas USDT reserves are over-collateralized at 101%, based on the report.
OKX has additionally printed over 23,000 addresses for its Merkle Tree PoR program — permitting the general public to view reserve asset flows.
OKX CMO Haider Rafique stated:
“We’ve already taken a management place by publishing our PoR month-to-month. As business requirements for PoR proceed to take form, we count on that our reserve asset high quality will likely be one in all many key differentiating components for OKX out there.”
Compared to OKX, Binance reserves are thought-about 87.6% clear whereas Bitfinex and Crypto.com reserves are thought-about 69.88% and 95.51% clear, respectively, based on CryptoQuant knowledge.
