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. Minting

Minting Sequence

Explains the sequence of steps in Minting

PreviousWhat is Minting?NextBTC Proxy Mint Interface

Last updated 3 years ago

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The minting sequence in BTC Proxy is given below:

Minting Sequnce

  1. The user connects the ETH wallet to the web3.js interface at btcpx.io

  2. The user confirms the amount of BTC to deposit and is displayed the Fees

  3. The user is displayed the wallet address of the Custodian they are to send BTC to

  4. The user initiates the transfer of BTC to the custodian from their own wallet

  5. The Proxy Relay validates the deposit of Bitcoin to the smart contract

  6. BTCpx is minted

  7. BTCpx is sent to their ETH wallet