VPoR

VPoR is a "Glass Vault" standard for crypto exchanges—a sovereign virtual blockchain dedicated to proving solvency in real-time while preserving user privacy. Unlike traditional Proof of Reserves which relies on sporadic snapshots, VPoR provides continuous, programmatic verification. It tracks an exchange's assets via decentralized oracles and liabilities via an encrypted ledger. Users can verify their specific deposits are included in the solvency root without revealing their identity or balances to the public. For exchanges, it’s Trust-as-a-Service: a way to bootstrap reputation instantly by replacing "trust us" with "verify us."

VPoR is architected as a permissioned virtual blockchain running on the MATE EVVM metaprotocol. This infrastructure allows us to utilize async nonces, processing thousands of liability updates in parallel—critical for matching the throughput of a centralized exchange. The core logic resides in the GlassVaultEVVM smart contract, which acts as the canonical registry for solvency. It tracks two state roots: Liabilities: We use a Merkle Sum Tree where leaves represent user balances. The exchange backend computes this tree off-chain and pushes the root and encrypted inclusion proofs to the chain. Assets: We integrated Chainlink Functions to serve as a decentralized auditor. A ChainlinkEVVMBridge contract on Sepolia receives oracle data (fetching real-time balances from BTC/ETH cold wallets via explorers) and bridges it to the VPoR chain. For privacy, we implemented ECIES encryption. While the global solvency math (Assets > Liabilities) is public, individual user proofs are emitted as encrypted events. Users decrypt these locally using their wallet keys (e.g., eth_decrypt), ensuring that sensitive financial data never sits in plaintext on the chain.