Websea Reserve Proof (PoR) officially launched: Promoting asset transparency through public data and self-verification

On August 18, 2026, Websea officially announced the launch of the Proof of Reserves (PoR) mechanism. This mechanism publicly shares the platform's reserve data with all users and simultaneously opens up open-source verification tools, allowing users to independently verify whether their personal assets are fully included in the platform's reserves. Websea CMO Herbert R. Sim stated, "Asset transparency is a long-standing commitment of the platform to users, and we will regularly publish reserve data and historical reports."

In the asset security system of centralized trading platforms, the Proof of Reserves is an important way to enhance transparency. It provides users with independently verifiable asset information through cryptography and blockchain data. Websea adopts the industry-standard Merkle Tree solution to organize and prove user asset data, and publicly discloses the corresponding Merkle tree root hash, platform wallet address file, and related verification materials.

Users can view the current verification date, covered currencies, user asset balances for each currency, platform on-chain wallet balance, complete currency list, and continuously updated historical reports on the Websea Proof of Reserves page. The core indicator disclosed by the platform is the reserve ratio, which is the platform's on-chain assets divided by the total user assets. When the reserve ratio is not less than 100%, it means that the corresponding assets held on-chain by the platform are not less than the total user assets, providing a quantifiable reference for the coverage of user assets.

The core of this PoR mechanism lies in "openness" and "verifiability." On one hand, the platform publicly discloses reserve-related data, allowing users to verify addresses and snapshot balances in the blockchain explorer using the wallet address file; on the other hand, users can use exclusive verification data and open-source programs to confirm whether their account balances are included in the Merkle tree, thus verifying whether their personal assets are fully accounted for in the current reserve proof.

This design means that the Proof of Reserves does not rely solely on the platform's unilateral declaration but instead hands over the verification capability to users. Each user can complete the verification locally and further cross-verify with publicly available on-chain addresses. The more users participate in self-checks, the greater the independent verification of the credibility of the public data.

The PoR report is based on the asset snapshot of the verification date, aiming to show the reserve coverage of the assets held by platform users at that point in time. At the same time, PoR is primarily used to verify whether user assets are fully included in the reserve scope and does not involve off-balance sheet items such as external borrowing or investments by the platform. Users can combine the scope disclosed in the report to gain a more comprehensive understanding of the transparency and verification value provided by the Proof of Reserves.

As the digital asset industry continues to focus on platform transparency and user self-verification capabilities, PoR is gradually becoming an important infrastructure for building trust in trading platforms. With the launch of the Proof of Reserves and the opening of data and verification tools, Websea aims to allow users to more intuitively understand asset coverage and participate in the construction of platform transparency in a verifiable manner.

In the future, Websea will continue to update reserve data and historical reports, promoting the normalization of asset information disclosure to provide users with a clearer and more verifiable foundation for asset transparency in trading.