Change Proof of Reserves System Update

Company
September 11, 2024

Change is excited to share an updated Proof of Reserves (PoR) report, highlighting our continued commitment to transparency and security. This report ensures customers have a clear view of their assets as of August 2024 month-end. Let's delve into the details of our PoR reporting:

Static Closing Liabilities

At the end of August, we took a snapshot of Change’s customer liabilities, providing a clear picture of customer assets we hold. Small part of the customer assets are distributed across renowned liquidity providers and custodians, which is required to run the product like enabling daily trading activities and deposits/withdrawals to our customers, with the bulk secured in cold wallets for maximum security. As of August 31, 2024, 80.37% of customer spot trading balances were held in cold storage with Ledger and 19.63% of balances were held in hot storage with several different liquidity providers for daily operations. 

Dynamic On-Chain Addresses and Assets

For self-custodial cold wallets, we have provided a list of addresses as of August 31, 2024 which can be explored via chain specific explorers, and while closing liabilities and provider balances are snapshots as of month-end, on-chain addresses and assets change in real-time as a result of transaction activity. This means that the numbers reflected in this report versus what is currently visible on-chain, will not be identical.

An additional challenge which customers need to be aware of is the concept of a UTXO. For UTXO-based blockchains such as Bitcoin and Litecoin, transactions executed on-chain since the time of writing mean that the wallet addresses provided below may not be conclusive. 

In the tables below, you will find the total liabilities and the proportion held in cold wallets and liquidity providers and custodian BitGo. For cold wallets you can see the wallet addresses below as well.

CCY Customer spot balance % of customer spot balance Customer staking balance % of customer staking balance Customer total balance % of company hot storage balance * % of company cold storage balance **
ADA 1648757.391 37.40% 2759962.121 62.60% 4408719.513 5.77% 94.23%
AKT 5669.673885 100.00% 0.00 0.00% 5669.673885 100.00% 0.00%
ALGO 256840.2481 48.56% 272022.0678 51.44% 528862.3159 100.00% 0.00%
APT 1988.006041 100.00% 0.00 0.00% 1988.006041 100.00% 0.00%
ARB 55233.00234 100.00% 0.00 0.00% 55233.00234 100.00% 0.00%
ASTR 12452.21451 100.00% 0.00 0.00% 12452.21451 100.00% 0.00%
ATOM 6127.57913 28.97% 15027.4489 71.03% 21155.02803 100.00% 0.00%
AVAX 1552.318737 19.97% 6220.197086 80.03% 7772.515823 100.00% 0.00%
BCH 350.0630592 100.00% 0.00 0.00% 350.0630592 11.08% 88.92%
BTC 257.8342743 74.34% 89.01745553 25.66% 346.8517298 36.28% 63.72%
CFG 4082.794105 100.00% 0.00 0.00% 4082.794105 100.00% 0.00%
DASH 1102.243955 100.00% 0.00 0.00% 1102.243955 100.00% 0.00%
DOGE 3668558.053 100.00% 0.00 0.00% 3668558.053 32.12% 67.88%
DOT 31436.05641 33.95% 61163.92015 66.05% 92599.97656 18.67% 81.33%
DYM 2084.919864 100.00% 0.00 0.00% 2084.919864 100.00% 0.00%
EGLD 89.5208478 100.00% 0.00 0.00% 89.5208478 100.00% 0.00%
ENJ 13521.17726 100.00% 0.00 0.00% 13521.17726 100.00% 0.00%
EOS 55090.088 100.00% 0.00 0.00% 55090.088 100.00% 0.00%
FET 87144.63523 100.00% 0.00 0.00% 87144.63523 100.00% 0.00%
FIL 11946.5306 100.00% 0.00 0.00% 11946.5306 100.00% 0.00%
FLOW 13589.60301 44.37% 17038.10052 55.63% 30627.70352 100.00% 0.00%
FLR 111762.3426 100.00% 0.00 0.00% 111762.3426 100.00% 0.00%
FTM 78749.46838 100.00% 0.00 0.00% 78749.46838 100.00% 0.00%
GLMR 38065.18942 100.00% 0.00 0.00% 38065.18942 100.00% 0.00%
GMX 122.4764839 100.00% 0.00 0.00% 122.4764839 100.00% 0.00%
ICP 8860.329935 100.00% 0.00 0.00% 8860.329935 100.00% 0.00%
INJ 867.7274661 100.00% 0.00 0.00% 867.7274661 100.00% 0.00%
KAVA 22240.52298 18.50% 97946.50521 81.50% 120187.0282 100.00% 0.00%
KSM 268.7852416 14.40% 1598.308837 85.60% 1867.094078 100.00% 0.00%
LTC 3659.775876 100.00% 0.00 0.00% 3659.775876 77.24% 22.76%
LUNA 1173602938 100.00% 0.00 0.00% 1173602938 100.00% 0.00%
MINA 24233.58818 10.76% 200949.8701 89.24% 225183.4583 100.00% 0.00%
MOVR 21.82658134 100.00% 0.00 0.00% 21.82658134 100.00% 0.00%
NEAR 6945.886385 21.60% 25213.63325 78.40% 32159.51964 100.00% 0.00%
OP 8231.859079 100.00% 0.00 0.00% 8231.859079 100.00% 0.00%
QTUM 0.00147375 100.00% 0.00 0.00% 0.00147375 100.00% 0.00%
RUNE 4918.318291 100.00% 0.00 0.00% 4918.318291 100.00% 0.00%
SEI 17113.65716 100.00% 0.00 0.00% 17113.65716 100.00% 0.00%
SGB 621975.2921 100.00% 0.00 0.00% 621975.2921 100.00% 0.00%
STRK 3461.955328 100.00% 0.00 0.00% 3461.955328 100.00% 0.00%
STX 11055.7819 100.00% 0.00 0.00% 11055.7819 100.00% 0.00%
SUI 26468.40308 100.00% 0.00 0.00% 26468.40308 100.00% 0.00%
TIA 2049.382104 100.00% 0.00 0.00% 2049.382104 100.00% 0.00%
XLM 2017558.157 100.00% 0.00 0.00% 2017558.157 0.97% 99.03%
XRP 2392797.194 100.00% 0.00 0.00% 2392797.194 13.01% 86.99%
XTZ 18006.88439 25.02% 53967.06224 74.98% 71973.94663 27.56% 72.44%

Ethereum tokens

CCY Customer spot balance % of customer spot balance Customer staking balance % of customer staking balance Customer total balance % of company hot storage balance * % of company cold storage balance **
AAVE 495.7025493 100.00% 0.00 0.00% 495.7025493 22.35% 77.65%
ALT 125.9869832 100.00% 0.00 0.00% 125.9869832 100.00% 0.00%
ANKR 96678.12372 100.00% 0.00 0.00% 96678.12372 100.00% 0.00%
APE 17133.95359 100.00% 0.00 0.00% 17133.95359 80.41% 19.59%
API3 383.3279966 100.00% 0.00 0.00% 383.3279966 100.00% 0.00%
AUDIO 16229.79906 100.00% 0.00 0.00% 16229.79906 100.00% 0.00%
AXS 2492.168265 100.00% 0.00 0.00% 2492.168265 48.37% 51.63%
BAL 3723.246016 100.00% 0.00 0.00% 3723.246016 89.25% 10.75%
BAND 457.7383119 100.00% 0.00 0.00% 457.7383119 100.00% 0.00%
BAT 169698.4482 100.00% 0.00 0.00% 169698.4482 9.73% 90.27%
BIGTIME 0.00994402 100.00% 0.00 0.00% 0.00994402 100.00% 0.00%
BLUR 14179.45439 100.00% 0.00 0.00% 14179.45439 100.00% 0.00%
BOBA 7104.968623 100.00% 0.00 0.00% 7104.968623 100.00% 0.00%
CHZ 109752.7229 100.00% 0.00 0.00% 109752.7229 63.23% 36.77%
COMP 724.0774828 100.00% 0.00 0.00% 724.0774828 38.89% 61.11%
CRV 103520.4446 100.00% 0.00 0.00% 103520.4446 30.08% 69.92%
CVX 515.6852717 100.00% 0.00 0.00% 515.6852717 100.00% 0.00%
DAI 4275.876754 100.00% 0.00 0.00% 4275.876754 68.66% 31.34%
DYDX 16185.43104 100.00% 0.00 0.00% 16185.43104 70.63% 29.37%
ENA 1236.172658 100.00% 0.00 0.00% 1236.172658 100.00% 0.00%
ENS 413.1845103 100.00% 0.00 0.00% 413.1845103 100.00% 0.00%
ETH 1367.402486 61.62% 851.6330616 38.38% 2219.035547 4.73% 95.27%
ETHFI 79.71130816 100.00% 0.00 0.00% 79.71130816 100.00% 0.00%
EUL 266.80933 100.00% 0.00 0.00% 266.80933 100.00% 0.00%
FXS 528.1551693 100.00% 0.00 0.00% 528.1551693 100.00% 0.00%
GAL 180.9778473 100.00% 0.00 0.00% 180.9778473 100.00% 0.00%
GALA 2253558.439 100.00% 0.00 0.00% 2253558.439 100.00% 0.00%
GNO 1.23709469 100.00% 0.00 0.00% 1.23709469 100.00% 0.00%
GRT 246270.482 42.28% 336229.8844 57.72% 582500.3664 69.37% 30.63%
IMX 2299.769076 100.00% 0.00 0.00% 2299.769076 100.00% 0.00%
INCH 29282.53323 100.00% 0.00 0.00% 29282.53323 87.04% 12.96%
JASMY 17992.59179 100.00% 0.00 0.00% 17992.59179 100.00% 0.00%
KEEP 27976.55474 100.00% 0.00 0.00% 27976.55474 55.84% 44.16%
KNC 28513.905 100.00% 0.00 0.00% 28513.905 23.13% 76.87%
LDO 11387.91637 100.00% 0.00 0.00% 11387.91637 100.00% 0.00%
LINK 27307.41734 100.00% 0.00 0.00% 27307.41734 14.45% 85.55%
LRC 21671.38853 100.00% 0.00 0.00% 21671.38853 100.00% 0.00%
MANA 64503.82167 100.00% 0.00 0.00% 64503.82167 35.44% 64.56%
MATIC 118458.1095 41.31% 168317.9914 58.69% 286776.1009 100.00% 0.00%
MIR 1405022.713 100.00% 0.00 0.00% 1405022.713 65.92% 34.08%
MKR 3.81015525 100.00% 0.00 0.00% 3.81015525 100.00% 0.00%
MULTI 25334.38097 100.00% 0.00 0.00% 25334.38097 100.00% 0.00%
OCEAN 49898.5946 100.00% 0.00 0.00% 49898.5946 100.00% 0.00%
ONDO 98.48990057 100.00% 0.00 0.00% 98.48990057 100.00% 0.00%
PAXG 16.11329841 100.00% 0.00 0.00% 16.11329841 14.82% 85.18%
PENDLE 0.00911525 100.00% 0.00 0.00% 0.00911525 100.00% 0.00%
PEPE 22194395550 100.00% 0.00 0.00% 22194395550 100.00% 0.00%
PERP 3545.291698 100.00% 0.00 0.00% 3545.291698 100.00% 0.00%
PORTAL 0.00904352 100.00% 0.00 0.00% 0.00904352 100.00% 0.00%
POWR 3854.398098 100.00% 0.00 0.00% 3854.398098 100.00% 0.00%
QNT 136.3038172 100.00% 0.00 0.00% 136.3038172 100.00% 0.00%
RARI 18199.4825 100.00% 0.00 0.00% 18199.4825 34.04% 65.96%
REP 16339.3077 100.00% 0.00 0.00% 16339.3077 55.53% 44.47%
RPL 350.2536085 100.00% 0.00 0.00% 350.2536085 100.00% 0.00%
SAND 53990.29059 100.00% 0.00 0.00% 53990.29059 31.60% 68.40%
SHIB 7904117998 100.00% 0.00 0.00% 7904117998 44.80% 55.20%
SNX 14614.76457 100.00% 0.00 0.00% 14614.76457 29.14% 70.86%
STG 5550.293717 100.00% 0.00 0.00% 5550.293717 100.00% 0.00%
STORJ 25886.4334 100.00% 0.00 0.00% 25886.4334 100.00% 0.00%
SUPER 3377.045115 100.00% 0.00 0.00% 3377.045115 100.00% 0.00%
SUSHI 40305.37273 100.00% 0.00 0.00% 40305.37273 33.19% 66.81%
UMA 0.00839696 100.00% 0.00 0.00% 0.00839696 100.00% 0.00%
UNI 11872.39126 100.00% 0.00 0.00% 11872.39126 2.32% 97.68%
USDC 4426.947262 21.56% 16110.31302 78.44% 20537.26028 100.00% 0.00%
USDT 58335.41604 55.67% 46443.70056 44.33% 104779.1166 99.62% 0.38%
YFI 0.50048965 100.00% 0.00 0.00% 0.50048965 100.00% 0.00%
YGG 25246.28421 100.00% 0.00 0.00% 25246.28421 100.00% 0.00%
ZETA 0.00636565 100.00% 0.00 0.00% 0.00636565 100.00% 0.00%
ZRX 167549.9238 100.00% 0.00 0.00% 167549.9238 100.00% 0.00%

Solana tokens

CCY Customer spot balance % of customer spot balance Customer staking balance % of customer staking balance Customer total balance % of company hot storage balance * % of company cold storage balance **
ATLAS 5383.330423 100.00% 0.00 0.00% 5383.330423 100.00% 0.00%
BONK 3521964086 100.00% 0.00 0.00% 3521964086 100.00% 0.00%
DRIFT 94.33827085 100.00% 0.00 0.00% 94.33827085 100.00% 0.00%
HNT 4.84077621 100.00% 0.00 0.00% 4.84077621 100.00% 0.00%
JTO 1127.094483 100.00% 0.00 0.00% 1127.094483 100.00% 0.00%
JUP 11517.17592 100.00% 0.00 0.00% 11517.17592 100.00% 0.00%
MNGO 620205.3297 100.00% 0.00 0.00% 620205.3297 100.00% 0.00%
ORCA 4470.535176 100.00% 0.00 0.00% 4470.535176 100.00% 0.00%
OXY 1176462.626 100.00% 0.00 0.00% 1176462.626 100.00% 0.00%
PYTH 36540.24538 100.00% 0.00 0.00% 36540.24538 100.00% 0.00%
RAY 3623.160148 100.00% 0.00 0.00% 3623.160148 100.00% 0.00%
RENDER 12378.01862 100.00% 0.00 0.00% 12378.01862 100.00% 0.00%
SOL 7427.919606 48.97% 7740.158749 51.03% 15168.07836 11.28% 88.72%
TNSR 1168.35057 100.00% 0.00 0.00% 1168.35057 100.00% 0.00%
WEN 7646610.896 100.00% 0.00 0.00% 7646610.896 100.00% 0.00%
WIF 30749.36314 100.00% 0.00 0.00% 30749.36314 100.00% 0.00%

Tron tokens

CCY Customer spot balance % of customer spot balance Customer staking balance % of customer staking balance Customer total balance % of company hot storage balance * % of company cold storage balance **
BTT 10004865067 100.00% 0.00 0.00% 10004865067 100.00% 0.00%
TRX 45906.02786 35.47% 83516.33722 64.53% 129422.3651 100.00% 0.00%

*As of August 31, 2024. For operational needs, including customer deposits/withdrawals and spot trading, Change holds a proportion of customer assets in hot wallets, both with liquidity providers and BitGo.

**Snapshot of assets in cold storage taken on August 31, 2024 at 23:59 UTC

Cold storage addresses

CCY Address
AAVE 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
ADA addr1qxrxy6z4purw7ay8u4n5fremr92h3wws2xc3lqqzjaaynumhawe7f8phkz39z00j2plxdxu955630gxduaaqmlmz764q8c522q
ADA addr1q8a4ale2f8gj4vmu7cxmkj4nw3k74ghk89546pyqufpuedfsn8mq9jw6wmra2nrla7hv8shau4mxhn4dgptenjyqzadsvxw297
ADA addr1q9mpe20sd8p82fe4mfc73lqjqs3qwk49m4vlsdpkgz5xpzxn3clskn0y2j2z2thusznx9ehnusprc72mderfljmaac7qc24k75
ADA addr1qxq9e5wta0mk5akp58p3enuy59r6s5fan33drr94aq053c8e4mpmqz8yq5g0g8yvg7zmycdsshcdl3qed6q08tp5meps2gck6n
APE 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
AXS 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
BAL 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
BAT 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
BCH 1JvEEkZJgi4gjskGi1H2SkQYHvuNmDhhuD
BCH 1GW37C6cTWtXGQpRf4evogdfrh6EZfPNRL
BCH 19rdb8fNvABTMaKyTXuYhVzrMwhgJEb3yJ
BCH 19ht44MD5JkQndKQoYoNAGDLfsGVhNWqzA
BTC bc1qmg5k3cpc3sarngq6rqqj4vclpd3nner7swc29g
BTC bc1qrweuenndu48p4n5ds0d0e5wgntarxags5tvdek
BTC bc1q6d3cf6t4wckz2dx3d958lw7hj8pdd0u3rdzaps
BTC bc1q74efuv4kd5u4gjkc5f7znwlqhkqaaaexj7ussn
BTC bc1qjyls722jnlmr35uu7vd8am3se7x0l7d3xvws58
BTC bc1qjmwzl95uzkfa82f74tgr9w4h24flna02azyk54
BTC bc1qtcteks4zj6tdg2269yv5rm6s7p0jau2g89tean
CHZ 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
COMP 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
CRV 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
DAI 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
DOGE D97fE2TmzCfc76mMEtehPddJFVbQYy1pqC
DOGE DHVZutZ9WNPdHzd4848LsTbc4NzEVGL3CR
DOGE DEjVN49DQgUBNhgyrVBeMYMM3eSUXwJTu3
DOGE DKDu3jHK9T1kpakQFdybDYvhkGh183shgy
DOGE D9K8iEtYHdrTUGKotvDi71o5dtw4WV59Ce
DOGE DFBnJGBR7M9DdHuxjFHo4qN88yasDi6AUa
DOGE DF7CUzTLEBqvWaWdQA8pAPhSRRixGsRGAt
DOT 13Bsto1AwMjigLw8f19rJDnkx1SfTBG5sdGtU6xguxihfbcz
DOT 12eeTmy9PogtDeEoYH6M6Xyp5QjbwGY8vTejGCeDUQUPXVLv
DYDX 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
ETH 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
ETH 0xF72C53fDf361D0f7EC1f299ED0b2A3CFbf7CDB37
ETH 0x72630267178FEBB923fECAdfC6FcC1EE9c77D2Af
ETH 0x50291d75F6A786C52BE91754fC8b2314900C6b6F
GRT 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
INCH 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
KEEP 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
KNC 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
LINK 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
LTC LgDt3khYKSfHnHQqcvmZ9n7XirQdrgWi3L
LTC LWLUXYDs4KUDm6MR84SyGa3AcpyMSa5ff5
LTC LcaT7X6gdDUZDzX41brstnhhP2xjG1KCNC
LTC LN4DSfdmnMTtTcBDemNMTR1yTiamWXvdvt
LTC LLZJTgfGbh1myBTzoVHdxnrhyEcEws5TqJ
LTC LQKTczD3iuuJ2BQtWgikxvXrBDFBToEXdr
MANA 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
MATIC 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
MATIC 0x50291d75F6A786C52BE91754fC8b2314900C6b6F
MIR 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
MKR 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
OCEAN 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
PAXG 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
RARI 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
REP 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
SAND 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
SHIB 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
SNX 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
SOL Btpr9sjHbqYdpeCriprqS6S8R2mjEYqDqprcjpGt8TJD
SOL BR2r4cXqf3oaPGKugN5YStj6j8n43sKXKdhT2n2t9bSU
SUSHI 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
UNI 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
USDC 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
USDT 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
UST 0x7DEB055643d8954BbBA09582107e71C8Ee55dE40
XLM GA665X3K2OXF4CWEOMD7FECCRRV2NL4XMK2YJ4RJYIW2S7TZQXJBCQZE
XRP raJ9n5GGBLpZeJUsNVxDPZJ3Jov6cR4YV3
XRP rEfyRmv3aaz3r7aoEC9tJxGkqG76dKym6w
XRP rG43s3Nsg44t3hkbzU5TsgGkcGsiQLAsmj
XTZ tz2WJ51RQSux4ydFKdxpHvWPxjw6Psn628G2
XTZ tz2KU8gsdSjP74Zmw4daZrhF8WPhEGv89iys

Liquidity provider statements

The statements of assets held as of August 31, 2024 from our service providers: