#Gate最新储备金率达118.49% #WCTCS9
Gate's newest proof-of-reserves snapshot shows $8.688 billion in total reserves and a 118.49% coverage ratio. A headline ratio is only the start, so I built this post as a five-step checklist anyone can use to read a reserve report, with the live numbers filled in.
Step one: check the total and the date
Gate held $8.688 billion in reserves as of October 18, covering 118.49% of customer balances, with total reserves up 5.7% from the previous period across 500 cryptocurrencies. A reserve report is a snapshot, so the date matters. The previous audit snapshot, from September 13, showed reserves of about $8.22 billion with 117% coverage. The ratio edged up by about 1.5 percentage points while reserves grew.
Step two: turn the ratio into a dollar cushion
A ratio is easier to judge as a number of dollars. By my math, 118.49% coverage on $8.688 billion of reserves implies customer balances of about $7.33 billion, leaving roughly $1.36 billion of excess reserves. The September snapshot implies about $1.19 billion, so the cushion grew about 14%. These are derived figures, not reported ones.
Step three: check the largest assets one by one
Total coverage can hide weak spots, so I look at the biggest lines.
- Bitcoin: customer holdings of 21,156 BTC against 25,727 BTC in reserves, a ratio of 121.6%, up from 120.32%. The excess is about 4,571 BTC.
- Ether: customer holdings of 362,785 ETH against 449,042 ETH in reserves, a ratio of 123.78%, up from 123.59%. The excess is about 86,257 ETH.
- Four stablecoins, USDT, USD1, GUSD and USDC: about $1.746 billion in reserves against roughly $1.497 billion in customer assets, a combined ratio of 116.59%. That is about $249 million of excess.
The stablecoin line deserves attention because it is the thinnest of the three. An earlier report put the aggregate stablecoin ratio near 111.63%, so it has improved by about five points. Across all categories reported, reserve amounts exceeded the corresponding customer balances.
Step four: see how reserves are composed
At current prices of roughly $83,000 for BTC and $2,445 for ETH, I estimate BTC reserves at about $2.14 billion, ETH at about $1.10 billion and stablecoins at $1.75 billion. Together that is about 57% of total reserves. The remaining 43% sits across the other 497 assets, which means price swings in smaller tokens also matter for the total. Reserve values move with the market, so a ratio can shift without any deposit or withdrawal.
Step five: check how the proof is built
The report is based on a cryptographically verifiable audit that combines Merkle tree structures and zk-SNARK proofs, allowing users to confirm both the total reserve coverage and the inclusion of their own assets. In plain terms, a Merkle tree lets each user check that their balance is counted without revealing anyone else's. I treat this as the most useful step, because it moves trust from a headline to something a person can verify.
What the report cannot tell you
A proof of reserves shows assets against customer balances at one moment. It does not cover every kind of liability, it does not show how assets are stored day to day, and it says nothing about operational risk. Independent trackers also measure differently. A DefiLlama snapshot on October 17 showed tracked on-chain reserves of about $7.28 billion, a different figure from the company's report, because trackers attribute wallets differently. I read both and watch direction, not one number.
My ranking of security metrics
Which metrics matter most when choosing a platform? Here is my order:
1. Verifiable proof of reserves with individual inclusion checks.
2. Asset-level ratios for the coins I actually hold, not just the total.
3. Stablecoin coverage, since it is the thinnest line.
4. Reporting frequency and consistency across snapshots.
5. Independent tracker data that agrees on direction.
6. Operational basics such as two-factor authentication and withdrawal controls.
How I would use this report
I would check my own balance inclusion, compare the BTC, ETH and stablecoin ratios with the previous snapshot, and save the figures so I can compare the next report. I would also keep only what I need for active trading on any exchange and use self-custody for long-term holdings.
The market context
BTC is near $83,008 and ETH near $2,445 after a volatile month, with earnings and the Fed meeting on October 27-28 still ahead. In weeks like this, reserve data matters more, because stress tests the plumbing of every platform.
Bottom line
Reserves grew 5.7%, the total ratio rose to 118.49%, and BTC, ETH and stablecoin coverage all moved up or held. That is a constructive snapshot. The point of a reserve report is not to take the number on faith, but to use it as a checklist and verify it yourself.
@Gate_Square

#GateSquareNewCreatorProgram Your first Gate Square post: a five-step formula, with a worked example from this week's market
Gate Square's New User Posting Season is live, and the first post matters most. Here is what the event offers, the formula I use to write a post worth reading, and a full worked example built on real data from this week.
What the event offers
New users are guaranteed a red packet with their first post, including 10 USDT and 3 USDT large-value packets. A daily quality leaderboard picks 3 winners, each receiving a 100 USDT experience voucher plus official interaction. A monthly creator leaderboard shares 10,000 USDT and Gate merchandise such as T-shirts, umbrellas and water bottles, and the announcement puts the total pool at 15,000 USDT. The announcement's own message is that the more you post and the higher the quality, the larger the red packet you can claim. You can write market views, trading recaps or hot-topic takes.
Why a formula helps
A blank page is the hardest part. My rule is simple: one data point, one reason, one risk, one level to watch. That keeps a post short enough to read and specific enough to be useful. These steps are my own tips, not official judging criteria.
Step one: lead with a number, not an opinion
Open with the fact that made you write the post. A figure gives readers something to check, and it shows you did the work.
Step two: say why it matters in one sentence
Connect the number to a decision. A fact without a reason is just a headline.
Step three: add the other side
Every good post names what could prove it wrong. This is where readers decide whether to trust you.
Step four: give a level or a trigger
Say what you would watch next, such as a price, a date or a data release. It turns a view into a plan.
Step five: close with a risk line and a hashtag
A short risk note and the right hashtag keep the post clear and easy to find.
Worked example: Tesla's Q3, in the formula
Here is how the steps look on a real topic from this week.
Lead number: Tesla's free cash flow came in at positive $1.53 billion, against a company-compiled consensus of a $4.51 billion burn. By my math, that is a swing of about $6 billion versus expectations.
Why it matters: the market worried that heavy AI and robotics spending would drain cash, and this result eased that fear. Operating cash flow was $6.263 billion.
The other side: GAAP net income fell about 43% to $787 million, and capital spending of $4.73 billion was lower than the $5.79 billion in Q2, which flatters the cash figure. Shares fell about 3.3% after hours despite the cash beat.
Level or trigger: the next quarter's capex. If spending rebounds and free cash flow stays positive, the cash story is real. If not, it was a timing effect.
Risk line: earnings reactions are volatile, so size small.
That is five short lines that a reader can follow in under a minute.
Second example: the market backdrop in the same formula
Lead number: The Nasdaq rose 1.05% to 26,702.86 on Wednesday, and the S&P 500 closed within 0.8% of its record high.
Why it matters: it shows an AI-led relief rally after a rough stretch.
The other side: the Nasdaq had 216 new lows against 53 new highs, and NYSE advancers beat decliners only 1.37 to 1. That means the rally is narrower than the index suggests.
Level or trigger: I would watch whether breadth improves in the next few sessions.
Risk line: narrow rallies can reverse quickly.
Common mistakes to avoid
First, copying a headline without adding your own reasoning. Second, stacking ten numbers with no conclusion. Third, using only the bullish case. Fourth, skipping the date of the data, which makes the post hard to trust. Fifth, promising outcomes. Markets do not offer guarantees, and readers notice.
A pre-post checklist
- Is there one clear number, with its date?
- Is my reasoning in my own words?
- Did I name what could prove me wrong?
- Did I include a level, date or trigger to watch?
- Did I add a short risk note?
- Did I avoid private information, wallet details and links I have not checked?
A note on safety
Never post private keys, recovery phrases, account details or personal information. Do not share unverified links, and treat any request for deposits or private data from other users as a warning sign.
How I would build a posting routine
Write one short post a day on the topic you know best. Keep a note of the numbers you used, so you can revisit them and learn from what happened. Over a month, those notes become your edge: a record of what you got right and wrong.
Start with what you already follow. If you track earnings, post the one number that surprised you. If you trade a particular sector, post the level you are watching and why.
#GateSquare #NewUserPostingSeason