🟦Coinbase Prime Users

Learn how to use your Coinbase Prime account with OpenTrade

Summary

• Coinbase Prime users can make investments in OpenTrade from their Coinbase account

• Coinbase Prime users can be repaid into their Coinbase wallets

• Coinbase Prime trading accounts cannot connect to smart-contracts or hold any token other than USDC/EURC, so you need to have another wallet that can connect to our Web Application and hold vault tokens - this is called your Login Wallet.

• The Login Wallet will not hold any funds - it is simply used to log into OpenTrade, hold vault tokens (which have no monetary value), and request withdrawals. All funds will be sent from your Coinbase Prime wallet and repaid to your Coinbase Prime wallet.

Getting Started

Follow the steps below to get ready to use your Coinbase Prime wallet with OpenTrade.

1) Sign up for a wallet that can connect to OpenTrade (the "Login Wallet")

This wallet is how you log into the OpenTrade Web App. We support any WalletConnect compatible wallet. For this use case, we recommend Metamask because it is simple and reliable but you can use any supported wallet.

No funds will ever move through the Login Wallet. For investments, USDC/EURC will be sent from your designated Coinbase Prime wallet. For withdrawals, USDC/EURC will be sent to your designated Coinbase Prime wallet.

The Login Wallet will only be used to:

1. Log in to the Web App to view balances, run reports, and request withdrawals

2. Hold vault tokens

Vault tokens do not confer any rights or hold any value. If you lose them or lose access to your wallet, your funds are safe. There is a manual recovery process for vault tokens.

2) Provide OpenTrade with the Login Wallet address you will use to connect to OpenTrade

This is so we can whitelist you and provide you access to the vaults.

3) Provide OpenTrade with your Coinbase Prime wallet address

This is where funds will be repaid.

This Coinbase Prime wallet address must be able to receive USDC on Ethereum or Avalanche from external parties. If you provide an address for the wrong network or asset, your funds will be lost. We will perform a penny test to confirm.

4) Whitelist OpenTrade’s USDC investment address in your Coinbase Prime account.

This is where you will send funds to make investments.

We will provide you with the address on a video call. You will need to whitelist this in your Coinbase Prime "Address Book". We will perform a penny test to ensure you have the correct address.

IMPORTANT: Only send USDC on ETH or AVALANCHE to this address. Sending any other token and/or on any other network will result in your funds being lost. We will perform a penny test to confirm.

Making an Investment

1. Navigate to your Coinbase Prime account

2. Create a transfer to the OpenTrade USDC address that you previously whitelisted

3. Approve the transfer

4. Confirm [via Slack or Email - preferred communication method to be confirmed with your account manager] 1) the amount invested 2) the vault you would like the funds allocated to 3) share the transaction hash and/or a link to the transaction on Etherscan or Snowtrace (this is available by clicking on the transaction in your Coinbase Prime Account). This is to help us reconcile the transaction and assign it to you. It is not mandatory but it helps us credit your account much faster.

5. Once USDC has been received, vault tokens will be minted to your Login Wallet and your balance on the platform will be updated. This will be same day for investments made on business days before the cut-off time.

Making a Withdrawal

1. Connect your Login Wallet to the OpenTrade app

2. Select the vault you would like to withdraw from

3. Click "Withdraw"

4. Input the amount you'd like to withdraw

5. Click "Submit Withdrawal Request"

6. Approve in your Log In wallet

7. After the Withdrawal Processing Time, USDC will be sent back to your designated Coinbase Prime wallet address and the corresponding amount of tokens will be burned.