Hot Wallets are available only on Business and Enterprise accounts.
Hot wallets are special wallets which provides you automated signed transactions at scale with security.
Normally these wallets are used for
- Deposit wallets where user deposits funds in an exchange or pays invoice in a payment processor or
On most protocols wherever it is possible, Hot wallets comes with fixed multi signature scheme of 2 of 4 where 3 keys are controlled by client and one key is provided by Liminal or using MPC with 2of2 shard configuration
- Sweeping - Hot Wallets come with automated sweeping where funds are swept from wallet automatically and sent to pre authorized wallets.
- Consolidation - Hot Wallets come with automated consolidation for UTXO based protocols such as Bitcoin. Consolidation allows to group multiple UTXOs in one, which will result in less fees when spent.
- Spray - Hot Wallets come with automated spray for EVM based protocols such as Ethereum. For EVM based protocols you need protocol asset (such Ether in Ethereum ) even if you want to transfer token asset. Spray function monitors incoming deposits on Hot wallets and sends required protocol asset to addresses as required gas to make it easier to sweep and transfer.
- Gas Station - Hot Wallets comes with Gas station which handles fees management. Gas station also tracks your sent transaction and in case they gets stuck it automatically adjusts fee and broadcasts again.
- Deposit wallets for Exchanges
- Deposit wallets for payment processors
Updated about 1 month ago