Deposits

Summary:

When depositing assets to acquire wrapped assets within the UNIT ecosystem, users initiate a deposit process. This process involves automatic assignment to a vault, typically the least risky one available, and sending a unique amount to ensure transaction security. Off-chain workers then verify the deposit's authenticity, after which wrapped assets are seamlessly minted and integrated into the user's account, ensuring the integrity and security of the conversion process.

Deposit Process:

Vault Assignment:

Upon initiating a deposit in UNIT, users are automatically assigned to a vault, usually the least risky one.

Unique Amount Requirement:

To maintain transaction security and integrity, users must send a unique amount when depositing assets. This unique amount prevents impersonation or fraudulent activities. Note: The unique amount may be automatically calculated by the system (e.g., the user inputs a desire to deposit 1 BTC, but the system may request to send 0.99999578 BTC).

Selection of Vault:

An automatically selected vault receives the unique amount sent by the user.

Verification by Off-chain Workers:

Off-chain workers, responsible for validating transactions, verify the user's deposit to ensure its authenticity.

Minting of Wrapped Assets:

Once the deposit is confirmed as genuine by the off-chain workers, wrapped assets are minted and seamlessly integrated into the user's account.

This streamlined deposit process guarantees the authenticity of the deposit and the security of the resulting wrapped assets, ensuring a seamless user experience within the UNIT ecosystem.