Proof of Reserves
BYDFi promises never to misappropriate user funds and ensures a 100% reserve ratio for user assets
BTC
Bitcoin
ETH
Ethereum
USDT
Tether
BYDFi holds over 100% of total user assets (BTC, ETH, USDT)
What is Proof of Reserves (PoR)?
Proof of Reserves is an audit process that ensures the assets held by an exchange are no less than the total user token holdings, verified through cryptographic methods and public wallet audits
Why is a 100% reserve ratio so important?
The platform provides a 100% reserve ratio
The platform's funds are fully reserved
User assets are fully secured
The platform guarantees 100% redemption of user assets during centralized withdrawals
Inability to provide a 100% reserve ratio
Risk of fund misappropriation
Low Tolerance for Systemic Risk
A concentration of withdrawals may trigger a digital run, potentially leading to user asset losses