In this blog post, we cover the key features of THRESH0LD Vault, highlighting what it is, its benefits and how it makes building on the blockchain easier.
Thresh0ld VAULT is a secure treasury management platform that allows digital asset managers to create secure enterprise wallets for their digital assets, define wallet policies to rule those wallets and trigger cryptocurrency transactions.
Thresh0ld VAULT features an extended design to easily and securely manage large numbers of hot wallets belonging to enterprises like cryptocurrency exchanges, payment gateways, OTC solutions, and NFT Marketplaces. This platform allows the creation of deposit and withdrawal addresses ready for integration within Thresh0ld VAULT wallets. See image below.
Wallet Types on THRESH0LD Vault
Thresh0ld VAULT defines 6 different types of wallets depending on their functionality:
- Vault Wallet – Vault Wallet is the standard type of secure wallet available in Thresh0ld VAULT which can receive and withdraw funds. A wallet creator can define the wallet policies that determine the wallet operation, including transaction limits, outgoing address whitelist, roles and approval chain. It can be used for regular and scheduled transactions.
- Batch Wallet – Batch Wallets are similar to Vault Wallets but are exclusively used for batch outbound transactions, which are not subjected to an address whitelisting policy.
- Deposit Wallet – Deposit Wallets are designed for fund deposit and collection management for customer deposit transactions.
- Mass sender / Withdrawal – Withdrawal Wallets are designed to process outbound withdrawal requests via API from end users.
- Hybrid wallets >> Duo wallets and delegated wallets can be used to collect deposits as well as process withdrawals.
Here are some of the benefits you enjoy with THRESH0LD Vault
1.The ability to generate policies for each wallet such as:
- The whitelisting of addresses
- Setting maximum transaction value
- Restricting transactions to only certain times of the day/week
- Configuring wallet policies for transaction management to certain time periods of the day.
2. The ability to configure suitable transaction approval schemes:
- Set up multiple approval levels
- Each level needs an m-of-n authorisation
- Each approval is unalterably bound to a particular user
3. Enhanced security with separation of roles/duties:
- Only wallet creators can define the policies that will govern them
- Wallet operators can only carry out transactions
- Approvers can either approve or reject transactions
- Wallet auditors monitor transaction results and can see a history of transactions made over a given period.
4. AML/CTF addresses flagging and risk assessment solutions:
- Stay compliant with our inbuilt AML/CTF mechanism
- Configure risk levels and warnings based on transaction criteria assessment.
- Connect to third-party AML/CTF service providers like CipherTrace or Scorechain
In addition, from THRESH0LD Vault wallet system, customers are able to access DeFi service connectivity across many blockchains while also being able to stake Polkadot, Tron, Solana and Kusama.
THRESH0LD Vault essentially remove the complexity and difficulty of building on the blockchain with a short Integration turnaround time.
Interested in seeing how it works?
We are happy to schedule a Demo.