The Zichain Blockchain Asset Management Platform (BAMP) provides investors and asset managers with an easy-to-use toolkit for managing digital assets and navigate the largely uncharted waters of cryptocurrencies. What was complicated and troublesome in the past is about to become simple and quick — just the push that the crypto industry needs right now, lacking institutional investors to expand. BAMP is an effective solution that combines everything an investor would potentially need.
Withdrawal and deposit algorithms
The BAMP trading infrastructure is as simple as possible and, at the same time, comprises all the tools to effectively manage digital assets. The fund manager can access the ‘All in One’ trading platform that enables them to buy/sell cryptocurrencies. The crypto exchanges on the platform are performed via sub-accounts. All the managers can safely and securely transfer funds between different platforms for the storing purposes or between different exchanges to actively trade the funds and balance the asset portfolio. Zichain also introduced a feature that allows managers to monitor the trade transactions and payment balance.
Investor transactions on the platform are processed using a clearly set out algorithm. First, investors transfer the initiation fees from their wallets to the fund manager’s one. Then the total investment amount is transferred into the wallet after the multisignature principle is applied. After that the investor receives tokens to their account, and the token amount corresponds to the initial investment. After each step transactions are saved and stored in the platform data base.
If an investor is wishing to withdraw funds, another algorithm is applied. Platform fund withdrawal fee is calculated automatically and is transferred to the fund manager’s account. This transaction and the fee are signed by both the investor and the platform. As it is the case for depositing funds, the withdrawals are also saved and stored on the platform after each described step.
Another algorithm is used when the fund manager is withdrawing funds. If the manager makes a request to withdraw funds from the platform’s account to restore balance or to transfer funds to an exchange’s account for trading. Such a transaction must be signed by all the fund’s investors in an IPS. The signatures must be obtained for all the smart contracts specified in the IPS.
First, the manager makes a request to withdraw funds. Then this amount is calculated for each contract in USD. The next step is the manager signing all the transactions, followed by the platform. Upon the completion of this step, the IPS is reviewed by the platform, and in accordance with the request the funds are transferred to the specified wallets.
After the trading session is completed the manager transfers the funds back to the platform fund to store. To this end, first the platform calculates the shares belonging to each investor based on the deposit amount in USD. The manager signs all the transactions, the funds are distributed between the smart contracts, and the platform reviews and records all the transactions.
The schedule for all the working deposit processes is published on the platform daily at a certain time to check the necessity to perform the following actions:
- Make the fees payments in accordance with the IPS;
- Complete all the transactions with the certain fees added;
- Send the transactions to the fund manager for signature;
- Check and sign all the transactions and transfers.
The prices schedule is also updated on the platform every 5 minutes. This schedule specifies the average exchange rate for all the cryptocurrencies in the fund manager’s portfolio. It is also used to update the portfolio balance.
Safety and security
Crypto asset funds play an important role in the industry’s development and the overall capitalization growth, as they combine funds of many investors to gain the ability to invest in the projects that are otherwise out of reach for the private investors with limited budgets.
Today one of the most important criterion for choosing funds for private investors are the stability and safety of the investments and also the sense of confidence that funds will be managed by a professional and not a swindler. Choosing BAMP, each investor fully secures their investments and holds the fund manager accountable for every single transaction. Besides, only by obtaining all the signatures of all the investors can the manager withdraw funds to an exchange or other wallet.
Clearly developed architecture and set out algorithms enable investors, fund managers and the platform itself to establish relations in a way that all the sides are fully satisfied with each other.
