• Blofin, a perpetual futures exchange, has been added to CoinMarketCap’s exchange category.
• The move is intended to increase the exchange’s visibility and adoption after its successful launch in January.
• Blofin has implemented five different security measures to protect user funds and posted financial data on Nansen as part of its Proof of Reserves (PoR) report.
Blofin Added to CoinMarketCap Exchange Category
CoinMarketCap (CMC), the world’s largest crypto asset tracking website, has added Blofin to its exchange category. This move aims at increasing the exchange’s visibility and adoption following a remarkable increase in community members and daily trading volume since its launch in January. The 24-hour trading volume currently stands at over 300 million dollars.
Security Measures Implemented by Blofin
To meet the standards of CoinMarketCap(CMC), Blofin has implemented five different security measures to protect users’ assets. These include partnering with Fireblocks for liability insurance coverage, drawing on decentralized Merkle Tree verification to prove users’ funds in the platform’s reserve, using Wallet as a Service (WaaS) to keep users’ assets in third-party custody, and adopting KYT solution from AnChain for monitoring security, risk, and compliance.
Proof of Reserves Report posted by Blofin
Before listing to the CMC, Blofin also posted its financial data on Nansen as part of its Proof of Reserves (PoR) report to ensure transparency and user confidence . According to Nansen’s data, Blofin’s net worth has surpassed 5 million US dollars with USDT representing 30.03% and USDC representing 21.18% of the total. To encapsulate resilience and transparency ,Blofin committed itself to providing monthly updates on PoR data which offers customers full assurance regarding the company’s financial stability and safety of investments .
Matt CEO Shared His Thoughts On Twitter
Matt ,the CEO of bling shared his thoughts via twitter saying it was their great pleasure receiving confirmation from CMC . He thanked all those who have shown trust n bling thus far & assured them they would continue striving towards their mission & vision while making sure product offered is reliable & reaches larger audience .
Functions Of BLOFIN – A Premier Crypto Futures Exchange
Blofin is a focused crypto futures exchange that values smooth operation& quality management of liquidity on platform & filling out numerous price-feeding sites . By taking care of these details , users can focus on their trading strategies without worrying about technical or administrative issues . It offers competitive products & services like liability insurance coverage , Merkle Tree verification proving users‘ fund reserves etc .