OKX publishes second Proof-of-Reserves replace, commits to report month-to-month

Main crypto alternate OKX has revealed the second update of its proof-of-reserves (PoR), with a promise to replace on a month-to-month foundation.

Following the collapse of FTX, crypto exchanges together with OKX and Binance have moved to enhance their transparency by publishing PoR experiences.

OKX revealed the primary model of its first proof of reserves report in December and it’s accessible on the alternate’s web site.

In a Dec. 22 replace, OKX mentioned it has revealed the second model of its reserve report back to the general public. Customers can simply self-verify belongings held on OKX fully on-chain.

Based on OKX’s dashboard on Nansen, the crypto alternate holds over 90% of its belongings in BTC, ETH, and USDT.

As well as, OKX has dedicated to updating its proof of reserves on the 22nd of each month.

OKX CMO Haider Rafique mentioned::

“Publishing PoR outcomes on a month-to-month foundation strengthen our dedication to guide the trade relating to transparency and belief.”

Journalist at CryptoSlate

Christian is a crypto-curious nerd who loves to analyze how protocols work beneath the hood. Christian is considering DeFi protocol analysis, token economics, and on-chain analytics.

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