November Transparency Report is more like Gate's "monthly health check" on its operational status.

From the report structure, there are three noteworthy signals:
1. Transparency has become institutionalized rather than a temporary display.
Ongoing monthly disclosures indicate that the platform is willing to keep asset conditions and reserve structures in a long-term, reviewable position,
which reflects management confidence rather than a short-term response.
2. Stability has become the core narrative.
Against the backdrop of significantly increased market volatility in November,
the report emphasizes reserve coverage, asset matching, and the continuity of system operation,
rather than using short-term performance to dominate the narrative.
3. Transparency is feeding back into user trust and capital behavior.
Transparency is not an end in itself but a means.
It ultimately manifests in whether users are willing to stay long-term and whether they continue to participate in trading.
The November report is more like a "steady-state output,"
with Gate turning trust building into a sustainable project.