BTC Proxy
Search…
Custodian Wallet Setup
Explains the concepts of custodian wallet, pooled wallet, and segregated wallet.
All wallets use a multi-signature configuration with all keys held by the stakeholders. The custodian wallet will only be able to send to the verified BTC Wallets of the users according to governance conditions. All minting and burning transactions are done in real-time by the user and custodian directly without intermediaries and can be viewable on any block explorer.
Note: The team or any other entity will never handle BTCpx. Users will only interact directly with the custodian wallets.
Pooled Wallets for Public Users - Custodians will have one or multiple pooled Bitcoin wallets for all public users with keys held by 1/3 Custodian and 2/3 BTC Proxy.
Segregated Wallets for Distributors - Having segregated wallets ensures that the funds of distributors are always separate and can be accounted for on-chain individually with keys held by 1/3 Custodian, 1/3 BTC Proxy, and 1/3 Distributor.
Last modified 11mo ago
Copy link