📨Investment via Transfer Guide
Learn how to use the Investment via Transfer process with OpenTrade
Using the Investment via Transfer process with OpenTrade requires prior approval and testing with OpenTrade to ensure safe flow of funds. Do not attempt this method until you have been given prior approval from and completed testing with OpenTrade. Your account manager will guide you through this process.
Who is this investment method for?
Users who wish to use a stablecoin on a non-supported network (e.g. USDC on Solana)
Users who cannot invest from a smart-contract enabled wallet
How does it work?
Users can make investments in OpenTrade using a stablecoin on a non-supported network (e.g. USDC on Solana) and/or from a non-smart-contract enabled wallet.
Withdrawals from OpenTrade can be repaid using a stablecoin on a non-supported network (e.g. USDC on Solana) and/or to a non-smart-contract enabled wallet.
To do so, you will need to create an Embedded Wallet that will connect to our Web Application to view balances, hold OpenTrade vault tokens, and request withdrawals. This can be created with a simple email address!
The Embedded 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 investments will be sent from your Circle Mint account and all withdrawals will be repaid to your Circle Mint account.
What stablecoins are supported via this investment method?
USDC on any network it is natively issued on
EURC on any network it is natively issued on
USDT on ETH
If you wish to use any other stablecoin please let us know and we will try to accomodate you.
Flow of Funds
Getting Started
Follow the steps below to get ready to use the Investment via Transfer process with OpenTrade.
1) Create an Embedded Wallet
This wallet is how you log into the OpenTrade Web App.
This wallet will store vault tokens, which will be issued when you make investments and are used to track the value of your investments and process withdrawals
Creating an embedded wallet requires only an email address
No funds will ever move through the Embedded Wallet. For investments, USDC/EURC/USDT will be sent from your designated treasury wallet. For withdrawals, USDC/EURC/USDT will be sent to your designated treasury wallet.
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.
User Guide: Creating an Embedded Wallet
2) Provide OpenTrade with your treasury wallet address
This is where funds will be repaid.
IMPORTANT: This treasury wallet address must be able to receive the stablecoins you are investing with from external wallets. If you provide the wrong address for the wrong network or asset, your funds will be lost. We will perform a penny test to confirm.
3) Whitelist OpenTrade’s Deposit Address in your wallet
This is where you will send funds to make investments.
These addresses are different depending on which network and which stablecoin you are investing. These will be provided seperately by your account manager during testing via your designated secure communication channel.
You should whitelist this in your "Address Book" to make transfers to it.
We will perform a penny test to ensure you have the correct address.
IMPORTANT: Sending the wrong asset and/or using the wrong network will result in your funds being lost. We will perform a penny test to confirm.
Making an Investment
Navigate to your treasury wallet
Create a transfer to the correct OpenTrade Deposit Address & input the amount you'd like to invest
Approve the transfer to the OpenTrade Deposit Address
Provide an Investment Confirmation via Slack or Email to OpenTrade. Your preferred communication method will be confirmed with your account manager before transacting. In this confirmation, provide the following info:
the amount invested (e.g. 100 USDC)
the vault you would like the funds allocated (e.g. USD Money Market Fund Vault on Avalanche)
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.
Once the stablecoins have been received, vault tokens will be minted to your Embedded Wallet and your balance on the platform will be updated. This will be done within 1 business day of from when we receive the Investment Confirmation from you.
Making a Withdrawal
Connect your Embedded Wallet to the OpenTrade app
Select the vault you would like to withdraw from
Click "Withdraw"
Input the amount you'd like to withdraw
Click "Submit Withdrawal Request"
Approve in your Embedded Wallet
IMPORTANT: You must have funded your Embedded Wallet with the native gas token (e.g. ETH or AVAX) otherwise the transaction will fail.
After the Withdrawal Processing Time, the stablecoins will be sent back to your designated treasury wallet address and the corresponding amount of tokens will be burned.
Using the API or Protocol
You can use the API or Protocol to query information as normal using this method. You will use your embedded wallet address as the parameter to query account-specific information.
If you do not wish to use an embedded wallet and would like to bring your own wallet for programmatic investments via transfer, this is possible but requires prior consultation with OpenTrade. Please let your account manager know if you'd like to explore this option.
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