Bybit shared a PoR report, the snapshot for which was taken on December 12.
The collateral ratio of $BTC user assets significantly exceeds 100% for the most part.
The snapshot for the report was taken on December 12, 2024. It features, among other things, the following crypto assets: APEX, APT, ATOM, AVAX, BLUR, BTC, CRV, DOGE, DOT, DYDX, ETH, FTM, IMX, LTC, OP, PEPE, POL, SHIB, SOL, UNI, USDC, USDT, WLD, and XRP.
The excess collateral ratio for the largest crypto assets is: Bitcoin — 115%, Ethereum — 106%, USDT — 103%, XRP — 113%, SOL — 104%.
“Our Proof of Reserve audit is confirmation that we truly hold the assets that our clients store on the Bybit platform. It confirms that we hold all tokens in a 1:1 ratio on the Bybit platform,” the organization stated.
The concept of Proof of Reserve (PoR) was first implemented by the Binance exchange. It was introduced by former CEO Changpeng Zhao in mid-November 2022.
