XREX’s Proof of User Digital Asset Balance is a report that is measured by the ratio of total exchange crypto inventory balances to total user digital asset balance. Users will be able to view the sufficient guarantee rate for each digital asset.
XREX released the Beta Version for Proof of User Digital Asset Balance on 30 December 2022 as a first report and the current version will only cover the user’s digital assets on the spot wallet. We will include fiat currencies and provide more detailed information in the later versions.
XREX generates our Proof of User Digital Asset Balance reports by implementing the Merkle Tree. Merkle Tree is designed for efficient and secure verification of all user balances. It proves that we cover all users’ balance. XREX users shall be able to self-verify their balances are covered without blindly trusting the exchange or the accountants verifying the reports. You can view your verified report or download the report at any time.
If you would like to learn more, please refer to the “What is the XREX Merkle Tree?” and "How to Verify if Your Balance is Covered in The Merkle Tree?".