PoR

Quick Take: PoR - Proof of Reserve

Autonomous, secure, and reliable audits of reserves Chainlink Proof of Reserve (PoR) replaces lengthy, opaque audits with automated, transparent, real-time on-chain audits backed by cryptographic truth, using a decentralized network of nodes to prevent a single point of failure. .

Supported chains

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In depth

What is PoR (Proof of Reserve?
At its most basic, PoR is a concept in which custodians (a person or entity who has responsibility for or looks after something) need to be able to prove that they hold the assets that clients have entrusted to their care.

PoR enables the creation of a financial system where the fractional reserve practices and inefficient manual auditing processes that have contributed to financial crises in the past are replaced with highly effective on-chain audits with strong decentralization and transparency, secured by math and cryptography.

Secure the minting, burning, and redeeming of wrapped tokens and prevent the creation of unbacked tokens

Replace traditional audits with automated, transparent audits backed by cryptographic truth

Allow users to independently verify wrapped token collateralization on-chain

Chainlink Proof of Reserve (PoR) enables DeFi projects to verify off-chain and cross-chain asset reserves through automated audits based on cryptographic truth.

Use cases

• Fluent - providing attestations on the fiat and asset reserve pools backing their flagship stablecoin, US+.
• Poundtoken - Helping to secure GBPT minting and enhance collateral transparency

Relevant quotes

Fluent
“With Fluent’s integration of Chainlink Proof of Reserve, our users will be able to trust in an accurate, highly available and transparent record of the reserves backing their US+. The natural result of this integration with Fluent Protocol is a more robust US+, a stablecoin asset that will become a more reliable form of collateral and payment across Web3.”

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CACHE Gold
“Chainlink Proof of Reserve is a highly reliable, low-cost, automated audit solution that brings increased transparency and trust to our platform. With our platform now Chailinked, users can have more confidence that the supply of CGT is backed by physical gold stored in vaults, ultimately making it a more reliable gold-backed asset.”
Brian Hankey, Co-founder of CACHE Gold.

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Timeline

• 22 Feb 22. Celsius integrates Chainlink Proof of Reserve (PoR) to help secure cross-chain wrapped tokens. Read the announcement HERE.

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• 23 Sep 21. Gemini sponsors a Chainlink Proof of Reserve (PoR) feed for On-Chain audits of EFIL collateralization. Read the announcement HERE.

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PoR resources

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Timeline

Date	Media	Author	Title
22 Feb 22	Article	Celcius	Celsius Integrates Chainlink Proof of Reserve (PoR) To Help Secure Cross-Chain Wrapped Tokens
23 Sep 21	Article	PR Newswire	Gemini to Sponsor a Chainlink Proof of Reserve Feed For On-Chain Audits of EFIL Collateralization

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Educational

Date	Media	Author	Title
N/A	Official Docs.	Chainlink	PoR - Autonomous, secure, and reliable audits of reserves
05 Jan 23	Article	Chainlink	Exploring Decentralized Proof-of-Solvency Systems
30 Dec 22	Article	Nic Carter	The Status of Proof of Reserve as of Year End 2022
03 Dec 22	Video	Chainlink	The Hitchhiker's Guide to Chainlink Proof of Reserve | Chainlink Tech Talk #14
10 Aug 22	Education	Chainlink	Verify Bitcoin Collateral With Chainlink Proof of Reserve
30 Jun 22	Article	Chainlink	Making Stablecoins More Stable With Chainlink Proof of Reserve
22 Feb 22	Article	Chainlink	Using Chainlink Proof of Reserve to Unlock Cross-Chain Liquidity With Wrapped Tokens
02 Mar 21	Article	Chainlink	Verify Stablecoin Collateral With Chainlink Proof of Reserve
26 Dec 21	Video	Sergey Nazarov	Transforming Audits With Chainlink Proof of Reserve
30 Nov 20	Article	Chainlink	Understanding Proof of Reserves

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