The latest Bitget reserve ratio
Reserve ratio = funds in the platform/funds of platform users. A reserve ratio greater than or equal to 100% means that the platform has sufficient funds.
The latest Bitget reserve ratio
Reserve ratio = funds in the platform/funds of platform users. A reserve ratio greater than or equal to 100% means that the platform has sufficient funds.
The latest Bitget reserve ratio
Reserve ratio = funds in the platform/funds of platform users. A reserve ratio greater than or equal to 100% means that the platform has sufficient funds.
What is proof of reserves?
'Proof of reserves' refers to an auditing procedure that is verifiable through cryptographic proofs, checks of public wallet ownerships, and recurring audits to certify the holdings of an exchange. The custodian provides transparency and proof of the existence of on-chain reserves and that the total amounts of those coins held and effectively at the disposal of the platform exceeds or is equal to the sum of all users' holdings of those coins.
To achieve this, Bitget stores the hash of each user's account assets in a leaf node on the Merkle tree. Each user can verify that their funds are included in the Merkle tree by checking the total amount of users' assets stored in the Merkle tree leaf nodes.
If the total amount verified is greater than or equal to 100%, then the platform has proven that users' funds are indeed intact.
The open source code of the platform's proof of its 100% solvency program has been published to GitHub.
See for yourself
We are committed to maximum transparency
Bitget's principles are meant to prioritize our users. To ensure the verifiable safety of our users' assets, we will be fully transparent with all our platform's assets.
1. Take snapshots monthly and publish all wallet assets of the platform
2. Take snapshots of each user's assets monthly and desensitize for publication
3. Users can verify their assets in a few simple steps
Why 100% on-hand reserves are so important
Unable to prove 100% on-hand reserves
It can be a telltale sign of the misappropriation of assets
And a source of low risk tolerance for black swan events
Concentrated withdrawals can lead to a run, which may result in a loss of users' assets
The platform provides 100% reserves
It means that the platform has sufficient reserves
It effectively guarantees that users' assets are safe
The platform will have no issues paying 100% of any concentrated withdrawals of users' assets
The platform provides 100% reserves
It means that the platform has sufficient reserves
It effectively guarantees that users' assets are safe
The platform will have no issues paying 100% of any concentrated withdrawals of users' assets
Unable to prove 100% on-hand reserves
It can be a telltale sign of the misappropriation of assets
And a source of low risk tolerance for black swan events
Concentrated withdrawals can lead to a run, which may result in a loss of users' assets
Bitget reserve details
Block height
Block height
0 users have verified the authenticity of the data.
See for yourself
Merkle Tree Basics
A Merkle Tree is primarily used to verify data integrity more efficiently. Each account is represented by an Acct node at the bottom, and the balances and account names of each account will be computed once with SHA256 encryption. The obtained hash value can be computed again with the adjacent one, and then layer by layer upwards until the hash calculation reaches the root of the Merkle tree. To verify whether the current reserves have been changed, the user only needs to follow the steps to make a hash calculation of their own account, find the position in the tree and the adjacent nodes, and then calculate the hash upward layer by layer until finally reaching the root of the tree calculated by the user. If it is consistent with the official announcement, then everything is accounted for.
As shown in the figure below:
How to verify my Proof of Reserves
1. After logging in, go to the "Proof of Assets" page, where snapshots of the platform's monthly audits are displayed. Click to expand it to view the data at the time of your audit.
2. If you want to further verify whether your assets have been included in the Merkle tree, you can click "Go verify" for hash calculation.
3. The top of Merkle tree is the root node, and the bottom nodes are called the leaf nodes, which is where your account is located. If the root hash value of the Merkle tree matches the root hash that the platform has announced for the current month, it means your assets are included in the Merkle tree and are secured.
4. If you want to further manually verify that your assets are included in the Merkle tree, you can click "Download" to get the manually verified data for further verification.
5. Run the Bitget open source verification tool “MerkleValidator”. If the data pass the verification, it means that your assets are included in the Merkle tree snapshot.
If the verification succeeds, the result will be "Consistent with the Merkle tree root hash. The verification succeeds"
If the verification fails, the result will be "Inconsistent with the Merkle tree root hash. The verification fails"
