Deposit

Deposit dashboard

The Deposit/Withdrawal Dashboard enables users to make deposits in both cryptocurrency and fiat.

Deposit Options: Choose between crypto or fiat deposits and follow the prompts to complete your transaction.
Deposit History: View a detailed record of all deposit transactions associated with your account for easy tracking.

This dashboard provides a straightforward way to manage deposits, offering flexibility with crypto and fiat options and clear visibility into transaction history.

Deposit by Cryptocurrency

Concept

When depositing cryptocurrency tokens into your Unit account, you will follow a series of instructions specific to the token and network.

Deposit of Native Tokens (e.g., Ethereum):

Deposits of native tokens, such as Ethereum (ETH), must be made from the ERC-20 chain.

Enter Deposit Amount:
- Specify the amount of ETH you want to deposit. A deposit transaction will be created, and you will receive detailed instructions.
Follow Deposit Instructions:
- You’ll be prompted to "Send to ETH Address" and provided with the exact amount to transfer. This transaction will initially display a "PENDING" status in your Deposit History.
Transaction Status Update:
- Once the specified ETH amount has been deposited into the given address, the transaction status will update from PENDING to COMPLETED.
Wrapped Token Equivalent:
- Upon successful completion, you’ll see a wrapped equivalent of the token (in this case, ETHU) reflected in your wallet, representing the deposited amount.

This process ensures secure and accurate handling of cryptocurrency deposits within the Unit Network ecosystem.

Step-by-Step Instructions for Depositing Cryptocurrency into Your Unit Account

Select the token to deposit

Main Dashboard: -> Deposit
Deposit: -> Using -> select Crypto
Token: -> Select the token of choice to deposit
Total Amount: -> Input value in USD OR Eth Quantity

Click on Deposit to complete the Deposit request transaction.

You will be prompted with a "Deposit request created successfully"

A Deposit Request confirmation will be created.

Next step: go to your metamask wallet and send the exact amount of ETH to the address on the confirmation.

Deposit - Enter Amount to Deposit ($ value or Quantity)

Deposit - Confirm to Proceed

After confirming your deposit amount, the screen will refresh to show the token address for your deposit.

Click View Address to display the address details.
Use this address to complete the transaction by sending the exact token amount. This step ensures you have the correct address information for a secure deposit transaction.

Deposit Request Form

After processing your deposit request, the screen will refresh to display a Deposit Request Form. This form will provide the ETH address to which you should send your ETH.

Follow the instructions on the form to complete your deposit. Once you send the ETH to the specified address, the transaction will be tracked in your Deposit History and update upon completion.

Deposit Request process

After you receive the deposit request, go to your metamask account to make the transfer of the ETH amount stated on the deposit account.

this is an example of how it will look like:

Deposit Request Pending

The Transaction History on the deposit dashboard will show the deposit as Pending.

this is an example of how it will look like:

Deposit Cancellation

If you decide to cancel a deposit, you can request a Deposit Cancellation:

Cancellation Request: Initiate the cancellation when you click on the Cancel Deposit.

NOTE This can only be done when you have not made the transfer to the wallet.

Once the cancellation request is processed, the deposit transaction will no longer be active, and its status will reflect the cancellation in your Deposit History.

Deposit Cancellation Completed

Deposit Request Completed Update

When the transfer to the deposit account is processed, the transaction history will refresh and show the status as Completed this is an example of how it will look like:

Deposit Request Completed - Wallet Credited

When the transfer to the deposit account is completed, the user account will be credited with the wrapped token, in this case ETHU.

You can see the credit in the wallet dashboard.

Deposit Request Completed - Wallet Credited

Note:Vault (behind the scene)

VAULT

When someone deposits a token (in this case ETH) into the app, the ETH is 'nominated' to a vault owner.

Nominated Vault

The nominated vault will have received ETH in their vault (and the ETH credited to their ETH address that was assigned when they set up the vault).