On December 4, 2024, Gate released its latest reserve report, revealing a series of record-breaking metrics across several performance indicators. These figures underscore the platform's strong asset growth and market resilience as well as reinforce its position as a leader in the competitive crypto exchange landscape.
Reserve Data Summary:
• Total Reserve Value: $9.566 billion, marking an all-time high and reflecting Gate's solid financial foundation and unwavering market confidence.
• Total Reserve Ratio: 123.91%, with multiple cryptocurrencies exceeding 120% in reserve ratios, positioning Gate ahead of industry benchmarks.
• Excess Reserves: $1.846 billion, another record, demonstrating Gate's ongoing commitment to safeguarding user assets.
• Excess Reserve Growth: 68.89%, highlighting the platform's proactive approach to asset security and reinforcing its platform's financial stability.
• Excess Reserve Ratio: 23.91%, emphasizing Gate's strategic focus on risk management and its continuous investment in user protection.
• Cryptocurrency Coverage: 209 tokens, providing users with a wide array of investment opportunities and flexible portfolio management options.
Major Cryptocurrencies' Reserves:
• BTC Reserves: 20,773 BTC, with a reserve ratio of 124.47%.
• ETH Reserves: 290,365 ETH, with a reserve ratio of 128.52%.
Gate, the first major platform to fully commit to 100% reserves, continues demonstrating steady asset growth while enhancing trust and transparency in the industry, consistently providing users with a secure and reliable trading environment.
With a reserve ratio that surpasses the industry benchmark of 100%, Gate has achieved an exceptional 123.91%. Specifically, the reserve ratios for Bitcoin and Ethereum are 124.47% and 128.52%, respectively, outpacing the industry average by over 20 percentage points. This exemplary performance fortifies its user assets with robust protection.
Proof of Reserve: Strengthened Asset Security
Gate has integrated zero-knowledge proof technology (zk-SNARKs) into its reserve audit process to further elevate user privacy and asset security. By leveraging zk-SNARKs, the platform can prove its sufficient reserves without disclosing sensitive transaction data. This advanced approach enhances transparency and trust as well as contributes to the overall health of the digital asset ecosystem.
Through a seamless four-step process—cold/hot wallet verification, user balance snapshot, zk-SNARK validation, and Merkle tree generation—users can independently verify Gate’s 100% Proof of Reserve. Audit pages for most major cryptocurrencies show that the platform consistently maintains reserves above 100%, offering clear evidence that Gate securely holds user assets with full backing.
Previously, Gate's reserve verification procedure underwent a comprehensive audit by Hacken, a leading blockchain security firm. Users can view the full audit report and detailed data in the Gate PoR Implementation Gate PoR Implementation documentation, and verify their account balances anytime through the 100% Proof of Reserve page.
Seamless Verification of Gate’s Reserves
[Check Gate's 100% Proof of Reserve](https://www.gate.com/proof-of-reserves "Check Gate's 100% Proof of Reserve")
Gate Sets New Global Benchmark for Security and Transparency
Since its founding in 2013, Gate has emerged as one of the world’s leading digital asset exchanges. Throughout its history, Gate has remained committed to providing users with a secure, stable, and transparent trading experience. As early as 2020, Gate first demonstrated its 100% Proof of Reserve to safeguard user assets and enhance platform transparency. In collaboration with Armanino LLP, a prominent auditing firm, Gate has consistently published its Merkle Tree open-source solution and continued to expand its security commitments through technological innovation.
Beyond its industry-leading reserve ratios, Gate has strengthened user asset and platform security by implementing multiple measures, such as its custom-built trading system, institutional-grade multi-signature wallets, multi-currency wallets, and a bug bounty program. Moving forward, Gate remains committed to advancing technological innovation and partnering with users to shape a more secure and transparent cryptocurrency trading ecosystem.
Thank you for your trust and continued support of Gate.
More information on reserves:
Understanding Proof of Reserves: How to Use Proof of Reserves to Prove the Safety of Exchange Assets
Hacken Publishes Case Study on Gate's Proof of Reserves Solution, Shares Security Audit Insights
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Gate Team
December 6th, 2024
