As a professional translator, I would translate this news article into English using a descriptive tone, ensuring accuracy and coherence of the sentences while retaining proper nouns. I will guarantee that the meaning remains the same and there are no grammatical errors. Please note that I will not add a period at the end of the translation. Here is the English translation:
Leading global Web3 technology company and virtual asset exchange OKX has released its 15th monthly Proof of Reserves (PoR) report, showing that OKX holds major assets worth $14.9 billion, with an average reserve ratio of 104% for these assets. This report also includes Bitcoin Cash (BCH) for the first time.
In addition to BCH, OKX’s PoR report comprehensively covers the reserve ratios of some of the most commonly used assets on its platform, including BTC, ETH, USDT, USDC, XRP, DOGE, SOL, OKB, APT, DOT, ELF, EOS, ETC, FT, LINK, LTC, OKT, PEOPLE, TON, TRX, and UNI.
Similar to previous reports, OKX’s 15th consecutive PoR report shows that the reserve ratios for all these assets exceed 100%. This ensures that users’ funds are backed by more than a one-to-one ratio.
The current reserve ratios for OKX’s major assets are as follows:
BTC: 102%
ETH: 104%
USDT: 104%
USDC: 104%
Lennix Lai, OKX Global Chief Commercial Officer, stated:
Since the launch of this report, OKX has enhanced and updated many features of its PoR based on user feedback. In April 2023, OKX will introduce zero-knowledge scalable transparent arguments of knowledge (zk-STARK) technology into its PoR process. This technology allows users to independently verify the exchange’s solvency while ensuring that their assets are backed by reserves without compromising privacy.
In October 2023, OKX released a video commemorating the one-year anniversary of its PoR report, advocating for Proof of Reserves to become an industry standard. The video features quotes from senior executives at OKX and influential figures such as Nic Carter from Castle Island Ventures, Scott Melker from The Wolf of All Streets, Sandeep Nailwal from Polygon, Jason Yanowitz from Blockworks, and Zak Brown from the McLaren F1 Team.
Users can access OKX’s latest PoR report, reserve ratios, and verify the exchange’s solvency.
About OKX:
OKX is a leading virtual asset exchange and Web3 ecosystem. OKX has developed virtual asset applications that combine speed and reliability, attracting over 50 million investors and professional traders worldwide.
OKX collaborates closely with the English Premier League champions Manchester City Football Club, the McLaren F1 Team, Olympic snowboarder Scotty James, and Formula 1 driver Daniel Ricciardo to enhance fan experiences through innovative interactions. Additionally, OKX is a top-tier partner of the Tribeca Festival, aiming to attract more creators to the Web3 domain.
In addition to exchange services, OKX has recently launched the OKX Web3 Wallet service, providing users with access to GameFi and DeFi tokens, allowing them to explore the NFT and metaverse domains.
This article is an official content provided by OKX and does not represent the stance or investment advice of this website. Readers must conduct their own careful evaluation.
