This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
As part of Binance’s continued Commitment to User Fund Transparency, we are pleased to announce the addition of Asset Collateral Information to our Proof of Reserves (PoR) system.
Showing asset collateral information demonstrates that assets held by users on Binance as collateral against loans will always exceed their liabilities. It also accounts for varying asset liquidity and further illustrates that Binance user assets are always backed at least 1:1.
Highlights of Binance’s PoR System:
Binance’s PoR methodology is unique in transparently capturing debt liabilities and allows users to have greater visibility of their debt-to-collateralization ratio.
Binance recognizes the reality that the value obtained by liquidating large quantities or low-market-cap assets would not be equivalent to their nominal value. By identifying user’s collateralized assets and implementing a haircut to their nominal value, Binance can further prove that user assets are always fully backed.
Users can visit our Proof of Reserves page to review the latest release and to verify that their funds are safe with Binance.
Our PoR code remains open-sourced to foster greater transparency within the community and facilitate a smooth adoption of the technology by other industry players.
Note: There may be discrepancies between this original article in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
Thank you for your support!
Binance Team
2024-10-08
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
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