Wallet as a service

OpenXSwitch - Wallet as a service (usecase and integration)

Major API functions in OpenXSwitch

1. Wallet Creation

• Support the creation of Main Wallets for organizational-level management (via the OpenXSwitch dashboard) and
• Sub-wallets for end-users or internal departmental structures (via API).

Relevant APIs:

• API for creating a sub-wallet : Used to manage end-users' wallets.

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2. Deposit Flow

• Facilitate blockchain deposit management for clients by providing dedicated deposit addresses for both Wallets and sub-wallets.
• Support auto-collection rule to Wallets for streamlined fund management.
• Allow querying deposit history for reconciliation and analytics.

Relevant APIs:

• API for generating address of a sub-wallet : Issue deposit addresses for sub-wallets to support end-user deposits.
• API for getting deposit history of a wallet : Aggregate deposits at the Main Wallet level.
• API for getting deposit history of a sub-wallet : Track deposits for individual sub-wallets.

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3. Withdrawal Flow

• Implement secure withdrawals from Main Wallets and sub-wallets to external wallet addresses.
• Streamline the withdrawal approval process with OpenXSwitch's withdrawal policies.

Relevant APIs:

• API for requesting withdrawal from main wallet : Facilitate withdrawals from Main Wallets, including network fee calculations.
• API for requesting withdrawal from sub-wallet : Facilitate withdrawals from Sub Wallets, including network fee calculations.

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4. Check Wallet Balance

• Provide clients with real-time wallet and sub-wallet balances for financial oversight.
• Enable visibility into both organizational (Main Wallet) and end-user (sub-wallet) asset holdings.

Relevant APIs:

• API for getting asset list of a wallet : Access balances of Main Wallets for overall fund management.
• API for getting asset list of a sub-wallet : View balances for specific sub-wallets.

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5. Transfer Flow

• Offer clients fee less comprehensive transfer capabilities for Main Wallets and sub-wallets to ensure transparency and support business needs.

Relevant APIs:

• API for transferring assets between sub-wallets : Transfers from one sub-wallet to another sub-wallet
• API for transferring assets from sub-wallet and Main Wallet : Transfers from sub-wallet to main wallet

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6. Trade Flow

• Use the Get Trading Pairs API to fetch available trading pairs, their price precision, and trading limits.
• Call the Get Trade Fee API to dynamically calculate the fees for the trade.
• Initiate a trade by specifying order details, including:
  • Coin Pair: Base and quote assets (e.g., BTC/USDT).
  • Order Type: Market or Limit.
  • Quantity/Price: Amount of the base asset to trade.

Relevant APIs:

• API for getting valid trading pairs
• API for getting trade fee for trading pairs
• API for executing trade

OpenXSwitch-Specific Features to Integrate

1. Sub-Wallet API Enhancements:
   • Enable direct API access for sub-Wallet creation and management
2. Webhook Notifications:
   • Implement webhook support to notify clients about wallet events (deposits, withdrawals, transfers).
3. Auto-Collection Rule:
   • Configure auto-collection rule for businesses that manage large-scale main wallet operations.