Skynet for Community’s Exchange Audit dashboard is a powerful platform that helps you do your due diligence. With a breakdown of the on-chain liquidity of 21 major exchanges, Exchange Audit gives you an insight into what’s going on behind the scenes at your favorite centralized exchange. Exchange Audit tells you at a glance the total assets held by an exchange, the net flow of funds to or from the exchange in the last 24 hours, and the percentage of assets held in stablecoins, Ether, and Bitcoin. Clicking through to an exchange’s page gives you even more data. Here, we can see Binance’s 24 hour trading volume, the number of exchange hot and cold wallets monitored, and asset allocations broken down by token and by chain. If you’re a whale who’s looking to move large sums of money, you might prioritize exchanges with the highest overall volume. If you care more about trading assets associated with certain chains, you can look for exchanges with good liquidity for those specific tokens. It’s a good idea to keep an eye on the overall health of the exchange you choose to hold your funds on. Centralized exchanges come with many benefits, but at the end of the day you’re still giving up custody of your tokens, and managing that risk is important. Skynet for Community helps you make informed decisions about which centralized exchange deserves your liquidity.
