100% Reserve Funds, Stupid but Correct



In 2020, Gate was the first to launch a 100% reserve proof among global exchanges. At that time, many people didn't understand: why prove your innocence? Don't users trust you?

Dr. Han Lin didn't explain much, directly publishing the wallet address for everyone to check. This was a very "stupid" approach at the time—publicly sharing the address meant everyone could see the platform's fund flow, including competitors. But he insisted on doing it.

Two years later, FTX collapsed, and countless users lost everything. The entire industry then started rushing to provide reserve proofs. But Gate had been quietly doing it for two years. Those who thought Gate was "stupid" back then only later realized that being "stupid" was actually the greatest wisdom. $GT

Han Lin said: "In 2013, I was scammed because of lack of transparency. I didn't know if the other party's wallet had coins, or if they were a scammer. So Gate has been committed to transparency from the start. Transparency is the simplest way to prevent scams." Thirteen years have passed, and Gate's reserve proof has been continuously updated without interruption. Some things are not hard to do once; the hard part is doing it for 13 years.

#Gate13周年
GT-0.67%
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