#Gate 8月储备金报告出炉# Gate announced the August reserve report 📊

As of August 8:
✅ Total reserve: $12.02 billion
✅ Total Reserve Ratio: 123.98%
✅ Excess Reserves: 2.32 billion USD

Except for $BTC, $ETH, and $USDT, the asset reserve ratios of $GT, $DOGE, and $XRP exceed the 100% reserve benchmark📈

Continuously fulfill the long-term commitment to user asset security and platform transparency.

What is a 100% reserve?
In centralized exchanges, each user's assets are recorded through ledgers in a database, and how to securely prove that the platform has properly safeguarded all users' assets is a self-verification dilemma.

Gate stores the hash values of each user's account assets in the leaf nodes of a Merkle tree. Anyone can verify whether their funds are included in the asset Merkle tree by auditing the total amount of user assets stored in the leaf nodes of the Merkle tree through a third-party organization with auditing qualifications.

If the total verified amount ≥ 100%, it proves that the platform has properly preserved the user's funds, which means the platform provides a 100% reserve of the corresponding assets.

Why is 100% reserve important?

The platform provides 100% reserves.
The platform has sufficient capital reserves.
Enhance user trust levels
Effectively safeguard user asset security
100% asset centralized withdrawal