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Workspace
A centralized hub within OpenXSwitch where users can manage their accounts, wallets, sub-wallets, and other resources. Each workspace can represent a distinct entity, such as a business or project, and may have dedicated settings and permissions.Wallet
A digital container that holds funds and supports blockchain transactions, such as deposits, withdrawals, and internal transfers. OpenXSwitch wallets can be custodial, ensuring secure management of funds on behalf of users.Sub-Wallet
A secondary wallet created within a workspace to segregate funds for specific purposes or projects. Sub-wallets enable enhanced fund management, such as organizing finances by departments or use cases, and may support features like auto-collection and policy-based governance.Address
A unique identifier on a blockchain network used for sending and receiving digital assets. Each wallet or sub-wallet in OpenXSwitch is associated with one or more blockchain addresses to facilitate transactions.WalletAsset
A WalletAsset is a unified representation of a cryptocurrency or token in a multi-chain wallet system. It aggregates balances of the same asset across different blockchains, allowing users to deposit on one chain and withdraw on another seamlessly.Why WalletAsset Matters?
- Cross-Chain Balance Aggregation – Instead of treating assets separately by chain, a WalletAsset combines them into a single view.
- Flexible Withdrawals – Users can receive an asset on one chain and send it out on another, making transactions more efficient.
- Simplified User Experience – Users don’t have to track different versions of the same token across multiple chains.
Recharge Currency
A digital asset used to fund wallets or sub-wallets. Users can deposit cryptocurrencies like Bitcoin, Ethereum, or stablecoins to maintain liquidity and enable transactions within the platform.👍 You can only deposit and withdraw using a recharge currency or coin
Trade
The act of buying, selling, or exchanging digital assets on supported markets.- Spot Trade: Immediate purchase or sale of digital assets at the current market price, executed through either a limit order or market order.
- Limit order: allows a trader to specify the maximum price they are willing to pay when buying or the minimum price they are willing to accept when selling.
- Market order: executes a trade immediately at the best available price in the market.
- Future Trade: A derivative contract to buy or sell an asset at a predetermined price on a specific future date.
Trading Pairs
In-Wallet Exchange
A trading mechanism within OpenXSwitch that uses funds from sub-wallets to perform transactions. After the exchange is completed, the resulting cryptocurrency is automatically credited back to the originating sub-wallet, ensuring seamless management of funds without requiring external transfers.👍 It supports various trading types, including spot trading and futures trading
Withdraw
The process of transferring funds from a wallet or sub-wallet to an external blockchain address. Withdrawals are subject to network fees and governance policies defined by the user or platform.Internal Transfer
Movement of funds between wallets or sub-wallets within the same workspace or platform, often without incurring blockchain transaction fees. Internal transfers enable seamless fund reallocation for operational efficiency.👍 No blockchain transaction fees