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Gate.io Surpasses $116 Million Daily BRC-20 Trading Volume and Expands Proof of Reserves Reporting

  • December 7, 2023
  • 2 min read
Gate.io Surpasses $116 Million Daily BRC-20 Trading Volume and Expands Proof of Reserves Reporting

In a ground-breaking revelation, Gate.io, a trailblazing crypto exchange and Web3 innovator, has reported a record-breaking daily BRC-20 trading volume, soaring to an impressive $116 million. The platform, known for its commitment to transparency and innovation, disclosed this milestone along with significant growth in assets such as $ORDI and $PIZABRC, which experienced remarkable increases of 17% and 245%, respectively.

In a strategic move to fortify market transparency and integrity, the crypto exchange has announced a pivotal enhancement to its Proof of Reserves (PoR) reporting. Already recognised for having one of the most comprehensive PoR reporting systems in the industry, the exchange will now include BRC-20 tokens in its reporting starting December 5, 2023. This comes after recent upgrades to the PoR process, incorporating zero-knowledge technology and increasing reporting frequency and coverage.

Gate.io, a frontrunner in the BRC-20 token space, made history by being the first exchange to list $ORDI, the original and largest token based on this standard, back in May. Since then, the platform has expanded its support to include twenty BRC-20 tokens, such as $TRAC, $SATS, $RATS, $PEPEBRC, and more.

The platform’s commitment to the BRC-20 ecosystem is evident through its holistic support, encompassing market development, distribution, trading, and infrastructure. This dedication extends to both its main exchange and Gate Web3, the decentralised Web3 ecosystem, where BRC-20 has been added as a supported protocol on the Gate Web3 Wallet, the non-custodial wallet.

In a bid to empower builders and innovators, the platform offers free distribution tools to BRC-20 developers, facilitating connections with early adopters. The exchange provides an extensive suite of BRC-20 infrastructure solutions, ranging from wallet support to trading and distribution. Users benefit from highly-liquid markets at a low cost, with no network fees and easy 24/7 access to deposits, withdrawals, and transfers, both on- and off-chain.

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