MEME Crypto Exchange Will Publish Proof of Reserves to Increase Transparency
The FTX crypto exchange has recently been in deep liquidity crisis, which has evolved into a crisis of trust in the crypto industry. On November 9, the price of FTT fell by more than 50%. Meanwhile, the vast majority of crypto assets plummeted too.
CoinDesk news&CZ tweet brings SBF&Alameda&FTX to almost zero together. Another massive crash in this bear market happened, this time with FTX (the second exchange in the world). It also revealed the true face of many centralized exchanges, which are facing a crisis of trust among users and investors. The slogan “not your key, not your crypto” sounded again. And more and more users were reluctant to store their cryptos on centralized exchanges. Although large-scale withdrawals have not yet been seen, this has to be vigilant.
How crypto exchanges retain users has become another hot topic at present. One of the means is to increase the transparency of reserves and disclose their “family assets”.
On November 10, the MEME crypto futures exchange stated that market confidence and transparency are the core of the long-term development of the blockchain. The MEME crypto exchange will publish the proof of platform reserves to increase transparency.
At the same time, MEME crypto exchange is researching Merkle Tree’s savings proof solution, and we will regularly provide third-party audit reports issued by authoritative organizations.
MEME crypto exchange supports multiple accounts (wallet/mailbox)
MEME exchange supports wallet/email login method, which is perfectly compatible with DEX and CEX. Users can choose their own wallet to log in without KYC certification. It is safer and more secure to store cryptos in the wallet.
Is wallet login more secure?
Of course！Centralized exchanges are suspected by users due to lack of security, transparency, and poor data confidentiality.
On MEME exchange, users log in through their own wallets and complete transactions with the help of the exchange protocol. The cryptos of the user is directly stored in their own wallet. Moreover, complex actions such as KYC/password/Google verification are not required when purchasing, which is very convenient.
MEME’s innovative trading model achieves perfect compatibility between DEX and CEX. Based on Web3 interactive technology, it is not subject to centralized control and supports wallet/mailbox. It means that MEME users can switch accounts when they log in. MEME creates a unique security account system for a better user experience.
MEME dares to publish the certificate of reserves to increase transparency, which is enough to prove that MEME has the strength to accept the real test of the market.
MEME has always put transparency and security first. We insist on creating a more secure and reliable crypto trading platform for users and be the leader in the Web3 crypto exchange industry!