SOLVENCY
CERTIFICATION
FOR EXCHANGES
CERTIFICATION_
Problem_
Today, cryptocurrency exchanges operate like a black-box, which means:

There is an extremely low level of their operations' transparency.

Without clear industry-wide standards of reporting an exchange's financial status, users, investors and business partners are not able to verify an exchange's solvency.

There is no way to find out if a crypto exchange has enough funds to fulfil withdrawal requests in the case of a security breach (f.e. Mt.Gox case).

In addition, the founders of crypto exchanges may simply disappear with its users' money (Pure Bit case).


Solution_
CER recently launched its Global Transparency Hacking initiative for higher transparency in the crypto market.

We now offer a Solvency certification for exchanges – to show users

an exchange's real scale (the funds it has in operation)

its ability to cover its liabilities in the case of a hack or any other potential problems it may encounter.
Certificate_
The CER Certificate is offered to validate exchanges' wallet ownership and balances in order to increase the trust of the community and prove an exchange's sustainability and transparency to the market.

The CER Certificate will be issued to exchanges free of charge before February 1st 2019.

Do you want to become one of the first exchanges to shape the future of the crypto market?
Value of having a Solvency CERtificate_
Building community trust
Providing clear evidence of solvency
Gaining competitive excellence
Attracting new users and clients
Improving rank in the new rating system
Standing out from unfair and unsustainable competitors
HOW IT WORKS_
The CER Certificate will be issued after submitted wallets have been audited by CER and its Partners. CER will also provide an embeddable widget that can be placed on the exchange's website to show ownership of the certificate.
1
Exchange
Submits wallet list to CER team
2
CER Partners
The Crypto Exchange Ranks' allies validate wallets ownership and credibility.
3
CER team
The team at CER analyses, validates and approves the addresses and publishe the s balances to the CER dashboard.
CERTIFICATION PROCESS_
The auditing procedure from the beginning till report delivery takes 20 business days. After verification wallets are added to our Blockchain Balance dashboard, an Exchange will be granted a certificate that is valid for 6 months.
Pre-conditions
After getting NDA and other legal agreements signed, Exchange should provide separate CSV file with all wallet addresses for each coin: BTC, ETH, USDT.

File requirements

Columns must have headers in English. Make sure that file doesn't include any additional information besides the header rows and the corresponding values. The order of the columns is not important.

CSV must contain data organized in following columns :

  • Coin: BTC/ETH/USDT
  • Wallet Type: Hot/Cold
  • Address: text

Please note, that all other values except specified above will be ignored.
Procedures and tests
Blockchain Balance CERtification includes two types of activities performed by CER and Partners:

  • Address ownership and wallet type verification by CER team and trusted Partners
  • Balances calculation by CER platform
Ownership and verification
Procedure is repeated for each coin.

Wallets will be validated for ownership by next of params:

  • linked with exchange blockchain subgraph
  • a sample of wallets will be checked by "satoshi test"
  • manual review.

As a result:
Verified wallets are added to Blockchain Balance calculation and balances start being calculated and displayed on the Blockchain Balance table

SECURITY NOTE_
The CER team guarantees the confidentiality of your wallet addresses.

all the wallets and any sensitive information received from the exchange is under NDA.

Only the CER team and our blockchain analysis partners (who sign mutual NDA's with us as well) will have access to this data for validation purposes only.
Please, fill the contact form and we will contact with you shortly