Float Accounts

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What are Float Accounts?

Float Accounts are accounts that are used to fund purchases specifically through Zero Hash Liquidity Services (ZHLS). These accounts are held under the Zero Hash Liquidity Services entity and are also only relevant to platforms that are under the Novated model. Although the most common float currency is USD, floats can come in the form of other fiat currencies and also crypto (for crypto/crypto transactions). See the ZHLS link in the first sentence for supported pairs.

How do I fund my Float Account?

It depends on whether or not you already have the float assets at Zero Hash.

I do not have any float assets at Zero Hash

Fiat

You will need to initiate a wire transfer to a Zero Hash-held bank account. You can view our bank account details on the Deposits page in the portal by selecting USD. Read more here.

Crypto

You will need to send your tokens to your dedicated address. You can view your address details on the Deposits page in the portal by selecting the crypto asset you are interested in sending.

This is the first step. The second step is the responsibility of Zero Hash's in order to properly allocate the deposited asset to the float account. You can coordinate this movement over a shared Slack channel.

I already have the float asset at Zero Hash

As a refresher, you can query balances via the GET /accounts endpoint. In order to pick out the float account, use the following query parameters

  • asset: [float asset you're interested in]
  • account_owner: 00SCXM
  • account_group: [your participant_code]
  • account_label: general

Example payload, assuming your platform's participant_code is ABC123

{  
  "asset": "USD",  
  "account_owner": "00SCXM",  
  "account_type": "available",  
  "account_group": "ABC123",  
  "account_label": "general",  
  "balance": "50000.00",  
  "account_id": "ce819fe8-b1d7-43bb-961c-e09ede0988d3",  
  "last_update": 1554395972174  
}

If you query the GET /accounts endpoint without any parameters and see that you have USD in your own account, ie

{  
  "asset": "USD",  
  "account_owner": "ABC123",  
  "account_type": "available",  
  "account_group": "ABC123",  
  "account_label": "general",  
  "balance": "100000.00",  
  "account_id": "ce819fe8-b1d7-43bb-961c-e09ede0988d3",  
  "last_update": 1554395972174  
}

Then you can get in contact with Zero Hash over Slack to coordinate the movements into the desired float account

Updated 3 months ago