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Transfer Policy

What are transfer policies?

For a policy overview, please refer to What are policies?​
If a basic policy does not meet the needs of your business, you can use an advanced policy.
You can improve risk management practices of your business by setting up multiple transfer policies. For example, you can establish conditions that meet the following criteria:
  • Wallet 1: Sending BTC requires approval from either Member A or Member B, while sending ETH requires approval from both Members A and B.
  • Wallet 2: Transactions with values less than $1,000,000 USD requires approval from either Member A or Member B, while transactions with values exceeding $1,000,000 USD requires approval from both Members A and B.
  • Wallet 3: Transactions with values less than $1,000,000 USD are automatically approved by API Co-Signer 1, while transactions with values exceeding $1,000,000 USD requires approval from both Members A and B.
  • Wallet 4: Only Member C is permitted to initiate transfer transactions. The destination address must be one that is on the whitelist. Any transfer transaction requires the approval of either member A or member B.
Triggering conditions can be customized and combined to fit your business setting. See as follows:
Dimension
Description
Initiator
Limit transaction initiators. An initiator can be any team member with the Create Transaction permission or an API Key. Define transaction initiators through the use of the following options: 1. Any member with the permission 2. Designate one or more members with the permission
From
Define wallets to be used for transfers using the following two options:
  1. 1.
    Any, which means transferring assets from any asset wallet
  2. 2.
    Designate 1 or more asset wallets
To
Define the destination address for any transfer through any of the following options:
  1. 1.
    Any, which means transferring assets to any destination address
  2. 2.
    Any asset wallet in your team
  3. 3.
    Designate one or more asset wallets in your team
  4. 4.
    Any whitelisted address
  5. 5.
    Designate one or more whitelisted addresses
  6. 6.
    An unknown address
Value
Convert the amount transferred into U. S. dollars based on the current exchange rate, and set a transfer limit using the following options:
  1. 1.
    Transfer value is greater than 'x' USD.
  2. 2.
    Transfer value is less than 'x' USD; Number of transfers within 24 hours is less than 'y' times.
  3. 3.
    Transfer value is less than 'x' USD; Cumulative assets transferred within 24 hours are less than 'y' USD.
Amount
Limit the number of transfers for a specified currency through the use of the following options:
  1. 1.
    Transfer amount is greater than 'x' value.
  2. 2.
    Transfer amount is less than 'x' value; Number of transfers within 24 hours is less than 'y' times.
Priority
Define the priority of policy matching. A larger value indicates a higher priority. When policies conflict, the policy with a larger value takes precedence.
Approval Process
Define the action for duplicate transactions through the following options:
  1. 1.
    Reject
  2. 2.
    Enter a set approval process
Only 1 selection can be made between value dimension and quantity dimension for each of the above parameters.
Once a transfer policy is set, a transfer transaction is prioritized using the advanced policy. If the advanced policy does not meet the transaction's triggering conditions but does meet the basic policy's triggering conditions, the transaction will then proceed using the basic policy approval process.

Why do we need policies?

Policies are used to smooth your business as to have different transactions match specific approval smartly governed by rules. Energize your business with team members playing their roles accordingly and timely.
You can define precise rules so that different transactions are processed differently. Policies can then be attached to a certain team. If you have multiple teams, then you can have specific policies for one team, and another set of policies for another one.

How to configure transfer policies​?

If you need to add an advanced policy, please contact Safeheron's Support team. The Support team will assist you in configuring an advanced policy based on the specifics of your business.
🪄 Tips:
You can use the following template to send an email to [email protected].

Transfer Policy Email Template​​

Subject
Transfer Policy Request
Content
Team ID: <Your Team ID>
🪄 Tips: You can find your Team ID by navigating to Settingsand click your team name. See below.
Description of Business Setting: <Describe your business settings where you use advanced policies, so that Safeheron’s support team can verify whether the policy settings are reasonable and safe>
Example policies requested to add:
🪄 Tips:
  1. 1.
    You can customize the name of the node.
  2. 2.
    Each policy can have up to 3 approval nodes.
Initiator
From
To
Value/Amount Limit
Priority
Approval Node 1
Approval Node 2
Approval Node 3
Any member with permission
Any
Any whitelisted address
Transfer value < $10,000 USD
100
Node Name: Admin Approval
Approvers: A, B, C
Approval Threshold: 2/3
None
None
Member A
Wallet 1
Any whitelisted address
Transfer ETH < 100
200
Node Name: Finance Approval
Approvers: A, B, C Approval Threshold: 2/3
Node Name: Risk Control Approval
Approvers: A, B Approval Threshold: 1/2
None
Member A
Wallet 2
Any
Transfer BTC > 100
300
Node Name: Executive Approval
Approvers: B, C
Approval Threshold: 2/2
None
None
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View transfer policies

The transfer policy is identified as a kind of advanced policy on Safeheron. Currently, the transfer policies can only be viewed on Safeheron Console.
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