BTC Proxy
  • BTC Proxy Documentation
  • Getting Started
    • What is BTC Proxy?
    • Current Challenges
    • Features
    • The Proxy Relay
    • BTC Proxy Advantages
    • Use Cases
    • User Interface & Navigation
    • On-Chain Transfer Restrictions
    • Fees
    • Minimizing Transaction Risks
  • Minting
    • How to Mint Video
    • What is Minting?
    • Minting Sequence
    • BTC Proxy Mint Interface
    • How to Mint?
  • Redeeming
    • How to Redeem Video
    • What is Redeeming/Burning?
    • Burning Sequence
    • BTC Proxy Redeem Interface
    • How to Redeem?
  • Custody
    • What is Custody?
    • Custodian Wallet Setup
    • Transferring Funds from Cold to Hot Wallets
    • Insured Custody
    • Regulated
    • Integration
  • PRXY Token
    • What is PRXY Token
    • Tokenomics
    • Functions of PRXY
    • Allocation
    • Roadmap
    • Legally Binding
  • BTC Proxy DeFi
    • Bitcoin Farming
    • Compound Staking
    • Treasury Bonds
    • Programs
    • Redux
  • Contract Addresses
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  1. Custody

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.

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Last updated 4 years ago

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