Transfers

Transfer out transactions

Within Qredo, transfer out transactions require approval. Such transactions include:

• L2>L2 Transfer

  An L2 to L2 transaction moves assets from one Qredo Wallet to another.

• L2>L1 Withdrawl

  When users withdraw from a Qredo Wallet, this triggers an L2 to L1 transaction, i.e., assets from a Qredo Wallet move to a Wallet outside the Qredochain (on BTC, ETH, etc.). This involves a process known as crystallization.

• L2<>L2 Atomic swap

  A two-way L2 to L2 asset exchange, e.g., 100000000 ETH qweis for 735601 satoshis. Both parties that participate have one transfer in transaction and one transfer out transaction (that undergoes custody with their approvers).

  This transaction type is discussed in more detail in the Atomic swaps section.

Transfer in transactions

Trusted parties do not approve any inbound transactions (deposits, transfers in, or swaps in).