Deposit & Withdrawal of Multi-currency

Publicado el 30 ene 2024Actualizado el 15 may 2024Lectura de 2 min

I. Deposit

1. Deposit network:

The mainnet is Ethereum, and the testnet allows users to directly withdraw test coins for transactions (OKX ZKDEX service is deployed on the Layer 2 network, and user assets are stored in the Ethereum layer 1 network contract. We use ZKRollup technology to ensure the security of user assets and data validity). The testnet is Sepolia.

2. Deposit currency:

Currently, multi-currency deposits are supported on Ethereum, including WBTC, ETH, USDC, etc. You can send transactions to Ethereum through the App, Web, and SDK, deposit the deposited coins into the Layer2 contract, and start trading after receiving them.

II. Withdrawals

1. Withdrawal network:

The mainnet is Ethereum (OKX ZKDEX service is deployed on the Layer 2 network, and your assets are stored in the Ethereum Layer 1 network contract. We use ZKRollup technology to ensure the security of your assets and data validity), and the testnet is Sepolia.

2. Withdrawal currency:

Currently supports multi-currency withdrawals on Ethereum, including WBTC, ETH, USDC, etc.

3. Withdrawal method:

You have two withdrawal methods to choose from, regular withdrawal and forced withdrawal.

Ordinary withdrawal:

  • Ordinary withdrawal is divided into two steps. The first step is to submit a withdrawal request to Layer2, and then wait for Layer2 to submit the verification result to Ethereum. After the verification is passed, you need to send a transaction to Ethereum to receive funds. The first step requires waiting for the verification result from Layer2 to Ethereum. Layer2 submits to Ethereum about every 10 hours, and the frequency will also change according to the network status.

Forced withdrawal:

  • Holding Ethereum's private key can invoke smart contracts to forcibly withdraw withdrawable assets. Users can withdraw funds from on-chain accounts with or without the approval of the operator. Forced withdrawal ensures that off-chain applications cannot prevent users from accessing their funds, achieving self-custody of on-chain funds.