OKX has consistently committed to protecting the safety of users' funds. Transparency is critical to the healthy development of the entire cryptocurrency industry. As an industry-leading cryptocurrency trading platform, OKX has always committed to establishing a baseline of trust in the industry to strengthen the future of cryptocurrency. . In order to make it easier for users to understand the security of the platform and the transparency of their assets, OKX plans to launch Proof of Reserves at 08:00 UTC on Nov 23. By making on-chain wallet holdings public, you can always verify that your funds are backed 1:1 by real assets. We will also regularly publish Proof of Reserve audits, making it easy for you to verify that your assets are safely held in our reserves. . What is Proof of Reserves？ Proof of Reserves is a common audit method used to ensure a custodian holds sufficient funds to cover all assets held on their exchange. . How does OKX prove transparency through Proof of Reserves？ There are 3 key steps to verify our Proof of Reserves: 1) We use a verification method known as a "Merkle tree", a data structure designed to encrypt data securely, to verify that all user assets held on the exchange. 2) We verify ownership of OKX on-chain wallet addresses and the total OKX wallet holdings. 3) Finally, we verify our reserve ratio by comparing total user asset holdings with total exchange assets from our on-chain wallet addresses. . When comparing the total assets held in OKX's on-chain wallets with total user assets from the Merkle root, if our total on-chain asset balance is greater than or equal to total users' asset balance, then the reserve ratio will confirm OKX has Proof of Reserves. . Customer trust is the cornerstone of OKX's success. At OKX, we hold 1:1 reserves of all customer assets on our platform and give you full transparency of your funds and our reserves. OKX will continue to build a safe, transparent, open and fair environment, so as to promote the healthy development of the entire industry. . Learn more about OKX Proof of Reserves >>>. Web: Navigation bar--More--Proof of Reserves. . OKX Nov. 23, 2022 . . Download OKX App for iOS, Android, macOS, and Windows >>>. Click here for Twitter >>>. Click here for Telegram >>>. Click here for Discord >>>. Click here for Youtube >>>. More >>>. .