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Withdrawal
The process of withdrawing funds from the MUFEX platform is designed to be highly convenient, secure, and flexible for users.
We offer two withdrawal options: Fast Withdrawal and Normal Withdrawal.
In addition, we provide a Dunkirk Asset Recovery mode that ensures users have the ability to retrieve their funds even in the unlikely event of MUFEX platform downtime. This is achieved by leveraging on-chain asset proofs to unlock and retrieve their assets from the MainTreasury smart contract.
The Fast Withdrawal mode supports multiple chains and guarantees swift processing and timely arrival of funds. However, please note that occasional maintenance may be required to manage the assets across these chains. In such cases, users have the alternative to select the Normal Withdrawal mode.
The withdrawal amount per transaction must exceed 2 USDT and be below 20,000 USDT.
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The Normal Withdrawal mode is specifically designed for withdrawals on the Arbitrum chain, where the MainTreasury smart contract is located. While it may take up to 4 hours for funds to be received, this approach ensures the highest level of security and reliability.
It relies on Asset Zero-knowledge proofs generated every two hours, which serve as a validation mechanism for the withdrawal requests made within that timeframe. Once these proofs are verified, the custody contract proceeds to process and complete all pending Normal Withdrawal requests submitted during that period.
The Fast Withdrawal service incurs a flat transfer fee of 1 USDT for each withdrawal request.
This fee covers various components, including the gas fees for on-chain transfers, the costs associated with managing funds across multiple chains, as well as the maintenance expenses for providing the Fast Withdrawal service.
For Normal Withdrawal, the transaction fee is to be determined.
To enhance the security of user withdrawals, the current process allows users to withdraw funds exclusively to their connected wallets.
However, in the next version, we are introducing a new feature called "withdrawal whitelist management," which will empower users to withdraw funds to any desired address while maintaining a high level of security.
Moreover, as an additional security measure, users will be required to sign the withdrawal transaction. This ensures that the transaction is authorized and initiated by the user, and the blockchain will validate and confirm the authenticity of the withdrawal request. By implementing these measures, we aim to protect user funds and provide a robust withdrawal experience on our platform. This feature is currently under development and will be available soon.
Last modified 5mo ago