According to the official announcement, Gate.io announced a 100% reserve snapshot of the BRC20 ecological head project at 10:00 on December 5, 2023. The latest snapshot shows that the reserves of assets including ORDI, SATS, RATS, etc. all exceed 100%, of which BTC’s reserve rate exceeds 120%.
In addition, regarding the significant increase in trading volume on the evening of December 4, 2023, platform investigation revealed that this phenomenon was due to the large fluctuations in the market that night and problems with the trading strategies of some quantitative institutional users. When the market fluctuates, it is not uncommon for institutional user strategies to deviate. This incident has nothing to do with platform operations.