Retail Crypto Deposits FAQ

Can our platform accept retail deposits?

Yes. Platforms can create digital asset addresses for retail end users. The list of supported assets for retail deposits can be found here.

How can I start creating retail deposit addresses?

This feature is not enabled by default. If your organization is interested in using this feature, please get in touch with a zerohash representative.

How do you support EVM-based token retail deposits?

zerohash has implemented forwarding smart contracts to accept retail deposits across all supported EVM networks (i.e. Ethereum, Polygon, Arbitrum, Optimism, Base, Avalanche C-Chain, and others). This means your retail customer has a single dedicated address per EVM network to deposit all native and ERC-20 compatible tokens. This wallet address has to first go through a smart contract wallet that is managed by zerohash.

Are there any deposit address creation fees?

Most deposit addresses can be created for free. For UTXO and Tag based assets, there are no deposit address creation fees.

Why is zerohash using forwarding smart contracts?

Forwarding smart contracts are used by zerohash to increase EVM scaling capabilities and to reduce a platform's expected operational cost.

Why is my deposit address the same for all native tokens and ERC-20 compatible assets on a given EVM network?

Retail customers will be provided with one forwarding smart contract address per supported EVM network. All native and ERC-20 compatible assets on that network go to the same address.

What happens if I send a different ERC-20 compatible asset to my deposit address?

If you send a zerohash-supported ERC-20 compatible asset to your forwarding smart contract, it will be credited as normal. Only zerohash-supported assets should be sent to forwarding contract addresses.

API Flow

Overview

For an end user looking to deposit assets with a platform, first the platform will need to create the address using POST /deposits/digital_asset_addresses. Doing this will return an address that the platform can relay to the end user.

Example

1. Platform Request: Platform A requests a unique wallet address for Customer B.
   • Sample Request Body:
     JSON

     {
         "participant_code": "CUST01",
         "asset": "UNI"
     }
     

   • Sample Response:
     JSON

     {
       "message": {
         "created_at": 1647050013,
         "address": "0x7f41A26C0CB9D5a1e57BE9cF10F8354b77CD8ab3",
         "participant_code": "CUST01",
         "asset": "UNI"
       }
     }
     

2. Customer Deposit: Customer B deposits UNI to the generated address.
3. Platform Check: Platform A checks recent deposit activity using GET /deposits and include_customer_deposits=true.
4. Transaction Confirmation: Once the transaction is confirmed, zerohash represents the transaction in an account for Customer B.
5. Account Balance: Customer B can see their total account balance using GET /accounts.