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According to the Reserve Proof Report released by Gate.io, it has a reserve rate of 115% for 171 assets and holds $4.3 billion in assets

TURKEY - Crypto exchange Gate.io releases its January 2024 Reserve Proof (PoR) report. The reserve rate increased to 115.47%, and the total held assets reached $4.3 billion. This means that Gate.io now holds $584 million more than user deposits. The latest report also indicates a value increase of $1.1 billion since the previous report published in November. 

In its fourth year of producing verifiable PoR (Proof of Reserves) verified by users, Gate.io has provided reserve proof for over 171 digital assets. This currently stands as the highest rate among all exchanges. Since the previous report, an additional 59 assets, including 26 BRC-20 tokens such as SATS, ORDI, MUBI, TRAC, NALS, PIZA (PIZABRC), PEPE (PEPEBRC), and others, have been included. The reserve rate for each of the 171 assets was above 100%.

Other important data included in the report:

Total Reserve Value: 4.363.990.957 USD
Additional Reserves Ratio: 584,704,086 USD
Total Reserve Rate: 115.47%
BTC: 127.33%
ETH: 120.54%
USDT: 101.30%
USDC: 129.34%

Gate.io’s Founder and CEO, Dr.Lin Han, stated, “Transparency is crucial for individuals and the industry's integrity. It enables users to participate in the market safely and securely and promotes best practices among exchanges; in our reserve reporting, we will continuously respond to input from users, external experts, and peers to ensure security, privacy, and transparency.”

Gate.io implemented significant zero-knowledge variability and privacy enhancements to its PoR (Proof of Reserves) towards the end of the last year. It expanded the list of reflected assets and committed to more regular reporting. An audit by the renowned blockchain security firm Hecken in January described the new method as “a strong foundation of proof in cryptographic implementation” and found that it made a “substantial contribution” to the field.

Gate.io became one of the first companies to produce verifiable PoR (Proof of Reserves) audited by third parties using the Merkle tree approach.