PoR
From Chainlink Community Wiki
Quick Take: PoR - Proof of Reserve
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Autonomous, secure, and reliable audits of reserves
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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. [2]
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
Release info
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.”
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.
Timeline
- 22 Feb 22. Celsius integrates Chainlink Proof of Reserve (PoR) to help secure cross-chain wrapped tokens. Read the announcement HERE.
- 23 Sep 21. Gemini sponsors a Chainlink Proof of Reserve (PoR) feed for On-Chain audits of EFIL collateralization. Read the announcement HERE.
PoR resources
Our goal with the Wiki resource lists is to create authoritative archives for readings and other resources pertaining to specific topics.
As such, the Wiki aims to keep all resource lists current, consistent, accurate and clear.
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 |
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 |