Gate's Reserve Structure Under Scrutiny in DefiLlama Report

DefiLlama has published a comprehensive research report that examines Gate's reserve structure in detail. The report reveals the platform's on-chain assets, collateral ratios, and position among global exchanges. Gate ranks third among 87 centralized exchanges in daily trading volume. The majority of the approximately $9.5 billion daily volume consists of derivatives trading. The platform's open positions stand at $12.48 billion.

An examination of on-chain reserves reveals that Gate's asset allocation is quite balanced. Bitcoin is the largest component, with no single asset exceeding a quarter of the total reserves. Ethereum, USD1, and other stablecoins make up other significant components of the reserves. The GT token is excluded from these on-chain reserves. The platform's net inflows over the last 30 days exceeded $308 million, while some major competitors experienced net outflows during this period.

Collateral ratios stand out as one of Gate's strongest points. According to the platform's proof-of-reserve report dated July 27, the average collateral ratio across approximately 500 different asset types is 117 percent. Bitcoin is overcollateralized at 124 percent, Ethereum at 122 percent, and GT at 131 percent. For stablecoins, this ratio is 119 percent. The difference between DefiLlama's on-chain data and Gate's own report stems from the fact that the two datasets measure different parameters. DefiLlama only counts assets in on-chain wallets, while Gate's report covers all assets against off-chain custody and user liabilities.

This information is not investment advice and is provided solely for informational purposes regarding market conditions.

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