Lock Your Platform

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The Locking feature allows a platform to restrict customers from moving funds away from a platform without explicit approval by the platform. This might be useful for if, for example, the platform manages outstanding obligations manually or has discrete settlement times - and as a result dynamic and instant transfers & withdrawals might cause issues. It's worth noting that customers will have less flexibility when assets are locked.

How it Works

Turning on Locking

Platform locking is a configuration that can only be made by Zero Hash administrators. Please contact us at [email protected] if interested in enabling this feature.

General Guidelines

  • Customers cannot allocate funds away from a locked platform without approval from the platform.
  • Customers cannot withdraw funds from a locked platform. They must first unallocate those funds, and then submit a withdrawal.
  • The Withdrawals page, found under the Platform header offers platform operators the ability to review, approve and/or reject pending withdrawals.
  • Email alerts are sent to both platforms and requesting participants whenever there are allocation & withdrawal requests made, for real-time notification.

Lock & Unlock Workflows

Portal

  • When a customer opts to allocate funds to a locked platform, those funds will remain locked. The user receives a warning before these types of allocations:

  • When a customer opts to Allocate funds from a locked platform, the platform will have to approve the movement from the Portal. The user will be able to Approve or Reject a withdrawal and also view all Pending, Approved, and Rejected attempts.
  • Accessible via the Withdrawals page, found under the Platform header:


API

If the user initiates a withdrawal from the locked platform via the POST /withdrawals/requests endpoint, the system will return the message, "Cannot withdraw directly from this account. Please un-allocate funds from this platform and then withdraw." API specs can be found here.

Email Alerts

All platforms and their customers will receive email notifications when certain actions take place:

Customer Perspective

  • Allocation Transfer Pending
  • Allocation Transfer Cancelled
  • Allocation Transfer Processed
  • Allocation Transfer Rejected

Platform Perspective

  • Platform Withdrawal Request Pending
  • Platform Withdrawal Request Cancelled
  • Platform Withdrawal Request Processed
  • Platform Withdrawal Request Rejected

Updated about 1 month ago