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Proof of Reserves

Bitget promises to hold 100% of users' assets in reserves, as well as publish its Merkle Tree proof, platform reserves, and platform reserve ratio on a monthly basis.
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What is Proof of Reserves?
The term "Proof of Reserves" refers to an auditing procedure that verifies the holdings of an exchange through cryptographic proofs, public wallet ownership, and recurring audits. The custodian provides transparency and proof of the existence of liquid on-chain reserves that exceed or equal the sum of all user holdings.
To achieve this, Bitget stores the hash of each user account's assets in a leaf node on the Merkle tree. Each user can verify that their assets exist in the Merkle tree by checking the total amount of user assets stored in the Merkle tree leaf nodes.
If the total amount verified is greater than or equal to 100%, this means that the platform has proven that it can cover all user assets.

The open-source code of Bitget's Proof of Reserves can be found on GitHub.

View here

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Our commitment to maximum transparency
1. Each month, we take snapshots of all the assets held in our wallets and make them available publicly.
2. We take snapshots of each user's assets each month and publish them after removing sensitive data.
3. Users can verify their assets anytime with just a few simple steps.
Why is a 100% reserve ratio important?
Cannot prove 100% reserves

Can be a telltale sign of asset misappropriation.

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Low risk tolerance for black swan events.

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Concentrated withdrawals can lead to a bank run, which may result in a loss of user assets.

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Proof of 100% reserves

Means that the platform has sufficient reserves.

Effectively guarantees that users' assets are safe.

The platform is capable of covering user withdrawals, even if 100% of user assets are withdrawn.

no-risk-riskVs
Proof of 100% reserves
Means that the platform has sufficient reserves.
Effectively guarantees that users' assets are safe.
The platform is capable of covering user withdrawals, even if 100% of user assets are withdrawn.
no-risk-m-riskVs
Cannot prove 100% reserves

Can be a telltale sign of asset misappropriation.

reserveCertificate-redIcon-m-1

Low risk tolerance for black swan events.

reserveCertificate-redIcon-m-2

Concentrated withdrawals can lead to a bank run, which may result in a loss of user assets.

reserveCertificate-redIcon-m-3
Bitget reserve details
Block height
Binance Smart Chain block height: 45038343
BITCOIN block height: 875585
Lightning Network block height: 173469606
Merlin Chain block height: 17357161
APTOS block height: 267105633
Arbitrum One block height: 286728731
AVAX C-Chain block height: 54619553
Binance Smart Chain block height: 45038563
BTTC block height: 46308314
Ethereum block height: 21443594
Optimism block height: 129548849
Polkadot Asset Hub block height: 7812255
Polygon block height: 65711802
Solana block height: 308667968
TONCOIN block height: 43129551
Tron block height: 68015184
Wrapped Kava block height: 13167384
Alienxchain block height: 1814557
Arbitrum Nova block height: 80872068
Arbitrum One block height: 286733149
BASE block height: 23954185
Binance Smart Chain block height: 45038892
Blast block height: 12943973
Ethereum block height: 21443693
Fuel block height: 9582209
LINEA block height: 13553376
Manta NetWork block height: 4047317
Metal DAO L2 block height: 11566981
Mode block height: 17264677
Morph block height: 1407020
Optimism block height: 129549389
SCROLL block height: 12065571
Starknet block height: 998982
Swell Network block height: 1000529
Taiko block height: 694557
World Chain block height: 7680987
Zircuit block height: 7380745
zkLink Nova block height: 7370610
zkSync Era block height: 51753477
Arbitrum One block height: 286734326
AVAX C-Chain block height: 54620285
BASE block height: 23954229
Binance Smart Chain block height: 45038920
DYDX block height: 32908568
Ethereum block height: 21443739
Optimism block height: 129549492
Polkadot Asset Hub block height: 7812329
Polygon block height: 65712248
Solana block height: 308671296
ZKFair block height: 12957825
Coin name
Users' assets
Platform's assets
Public chain
Reserve ratio
BTC
9,047.37475195 BTC
344.77370075 BTC
16,689.9338627 BTC
10.61641317 BTC
0.06716613 BTC
Binance Smart Chain
BITCOIN
Lightning Network
Merlin Chain
188%
USDT
1,567,563,654.8916914 USDT
76,160,280.351583 USDT
35,704,977.837167 USDT
18,989,052.118722 USDT
84,948,627.37115487 USDT
36.643412 USDT
758,960,873.367304 USDT
13,565,163.150563 USDT
609,625.560971 USDT
12,839,126.218696 USDT
19,631,762.007179 USDT
88,124,427.772988 USDT
641,169,266.451265 USDT
6,293,176.353294 USDT
APTOS
Arbitrum One
AVAX C
Binance Smart Chain
BTTC
Ethereum
Optimism
Polkadot Asset Hub
Polygon
Solana
TONCOIN
Tron
Wrapped Kava
112%
ETH
130,816.66609905 ETH
9.91855363 ETH
140.92540502 ETH
25,255.74507035 ETH
2,713.12170042 ETH
3,054.30236497 ETH
66.15389197 ETH
89,976.88961141 ETH
91.11891736 ETH
438.38686969 ETH
6.6026454 ETH
10.04261499 ETH
5.54409923 ETH
76.86381254 ETH
11,294.91395156 ETH
2,154.99618521 ETH
383.3098499 ETH
10.00010395 ETH
166.6435655 ETH
10.18625625 ETH
11.04013715 ETH
11.01429377 ETH
5,538.55638715 ETH
Alienxchain
Arbitrum Nova
Arbitrum One
BASE
Binance Smart Chain
Blast
Ethereum
Fuel
LINEA
Manta NetWork
Metal DAO L2
Mode
Morph
Optimism
SCROLL
Starknet
Swell Network
Taiko
World Chain
Zircuit
zkLink Nova
zkSync Era
108%
USDC
22,994,043.56447862 USDC
10,684,268.291027 USDC
1,688,658.137636 USDC
2,012,010.99365 USDC
3,132,322.81359087 USDC
31,861.088941 USDC
8,215,236.501057 USDC
3,250,077.170409 USDC
65,846.865189 USDC
5,892,758.818925 USDC
11,030,989.15812 USDC
3,440.70991444 USDC
Arbitrum One
AVAX C
BASE
Binance Smart Chain
DYDX
Ethereum
Optimism
Polkadot Asset Hub
Polygon
Solana
ZKFair
200%

2036 users have verified the authenticity of this data.

View here

Bitget wallet details
Coin name
Public chain
Wallet address
Amount
Block height
USDC
AVAX C-Chain
0xa6fa4b8bb17f7b930dca91c7f79db5b4a635b7dd
73.9702
54620285
USDC
AVAX C-Chain
0x5990148409a8f3c8239864dea7c9d5bbe6e67f23
45.69461
54620285
USDC
AVAX C-Chain
0xbb10a05156c330be5c23d9b0758d632d70a93092
61.331114
54620285
USDC
AVAX C-Chain
0x165e2b620263e974451b1c9d507d48167ac8b3ef
77.054073
54620285
USDC
AVAX C-Chain
0xaf180d65925fe12f8ec39dee06ce0da32f88b267
41.701719
54620285
USDC
AVAX C-Chain
0xc8ea3587b3796757c91e84be7474ff8a9228bd70
63.086222
54620285
USDC
AVAX C-Chain
0xd71c1a83d6c4d05dff9c10ae7776f5b41e58882b
26.59603
54620285
USDC
AVAX C-Chain
0x1350557fb7b0ba63f71f9052641fc108c61bf324
61.722329
54620285
USDC
AVAX C-Chain
0x3e14bc6fcaf9ac1e0ce36843fe8172289c41c377
60
54620285
USDC
AVAX C-Chain
0x044ea378335faddc483d701847f7720252db97e5
63.354807
54620285
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:
merkelTree
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