SoSoValue has become the first project to disclose data via a trial spot listing feature on Bybit. Bybit aims to promote transparency in project data and hopes to provide investors with more clarity regarding the development status of projects. The data disclosed by SoSoValue includes details such as circulating supply, inflation rate, staking information, and audit results. Bybit's move towards transparency follows in the footsteps of Binance, which implemented a proof-of-reserve system in response to financial crises in the industry. However, it is important to note that not all reports of proof-of-reserve are created equal, with some exchanges relying on self-attestations rather than independent third-party audits. Other exchanges that use third parties to audit projects include Kraken, Uphold, and Bitstamp.



Other News from Today