Chinese decentralized exchange Sun Wukong has officially launched its proof-of-reserves page, offering users real-time transparency into its on-chain holdings. The newly published data shows that the platform currently holds $64.14 million in stablecoin reserves, with 99.9% of that amount stored in USDT (Tether).
The proof-of-reserves dashboard confirms a 100% stablecoin reserve ratio, indicating that all user funds backing its perpetual contracts are fully supported. This marks a key step in building trust among traders, especially within the growing Asian decentralized finance market.
USDT Dominates Sun Wukong’s Stablecoin Reserves
According to data from the newly unveiled page, Sun Wukong’s reserves include:
- USDT (Tether): ~$64.13 million
- USDC: ~$3,179
- USDD: ~$1,131
The largest portion of USDT about $48.9 million is held in a Tron-based vault labeled “vault layer 3.” The rest is distributed across multiple networks including Arbitrum, Binance Smart Chain, Ethereum, and TRON, underscoring the exchange’s cross-chain asset management approach.
The overwhelming dominance of Tether suggests that Sun Wukong’s traders strongly prefer USDT-denominated perpetual contracts, leading the DEX to maintain most of its liquidity in that stablecoin.
Rapid Growth Since October Launch
Since going live on October 9, Sun Wukong has seen remarkable growth. The platform has already surpassed $4.87 billion in total trading volume, up $1.2 billion from just a week earlier. Its active user base has expanded to 58,707, compared to 35,600 addresses eight days prior.
In the past 24 hours alone, Sun Wukong handled over $221 million in trading activity, signaling strong demand from Chinese traders and growing liquidity across its perpetual futures pairs.
Top-Traded Assets on Sun Wukong
- Bitcoin (BTC): $30.9 million in 24-hour trading volume
- Ethereum (ETH): $25.2 million
- Solana (SOL): $7.16 million
These three assets make up the majority of the platform’s perpetual trading activity, reflecting global investor interest in blue-chip crypto assets even within localized Chinese DeFi ecosystems.
A Milestone for the Tron Ecosystem
Sun Wukong is recognized as the first native decentralized futures exchange on the Tron network and is widely referred to as the world’s first Chinese decentralized contract exchange. Its launch follows a successful public beta that attracted more than 10,000 early users and achieved nearly $900 million in test-phase trading volume.
The platform’s decision to publish transparent proof-of-reserves data not only enhances user trust but also sets a new standard for Chinese-language DEXs in terms of openness and accountability.
