The recent collapse of the FTX exchange has made transparency a crucial topic in the crypto community. For a long time, several stakeholders have been advocating for more openness in exchanges. The incident has led many exchanges to provide their Proof of Reserves. But in most cases, the exchanges only shared proof of assets without corresponding proof of liabilities. Fortunately, XeggeX is taking a different path.
The full-service cryptocurrency exchange has developed a Proof of Assets and Proof of Liabilities page using the Merkle Tree approach, aggregating all customer balances while keeping private information safe. This way, it is possible for users to verify that the exchange is holding their assets.
Although XeggeX is a small cryptocurrency exchange focusing on low-cap tokens, it prioritizes customer trust. Its Proof of Reserves page allows all registered users to verify that their assets are stored on the exchange. The page is easily navigable, and users won’t have any problems as long as they are logged in.
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