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How to withdraw funds from Pay Protocol?

· 3 min read
Pay Protocol Support
Pay Protocol Support
Pay Protocol BD & Support Team

According to the operating mode of Pay Protocol, the funds paid or recharged by customers will be stored in the merchant's sub-contract. Merchants can extract the funds to their own wallets through the "Aggregate"-"Rebalance"-"Transfer" process.

Aggregate​

  1. Log in to the Pay Protocol management backend using the financial wallet, click on the "Funds"-"Aggregate" in the navigation bar, and you can see the list of sub-contracts to be aggregated;

    To be aggregated

  2. Select the sub-contracts that need to be aggregated, click the "Batch Aggregation" button, wait for the wallet to pop up the signature request, and click "Sign" to confirm:

    Aggregate

  3. After that, you can check the aggregation status in the "Aggregate Records" tab:

    Aggregate Records

    tip

    Any member of the merchant can initiate the aggregation, and the initiator needs to pay the network fee. The aggregated funds will only go into the merchant's cold wallet.

Rebalance​

info

Rebalancing refers to transferring funds from the merchant's cold wallet to the hot wallet so that the merchant can withdraw funds. Only PRO and STD merchants have this feature.

warning

Newly registered merchants should first set the limit of the hot wallet. For more details, please refer to Modify Merchant Configuration with Multisig.

  1. Click on "Asset Details" in the navigation bar to enter the merchant wallet page and view the balances of the cold wallet and hot wallet:

    Wallet

    tip

    If the merchant has directly operated the funds in the cold and hot wallets outside of the Pay Protocol platform (such as transferring funds directly to the wallet), it may cause a discrepancy between the wallet balance recorded by the platform and the on-chain balance. In this case, you can click the "Balance Check" button to synchronize the on-chain balance with the off-chain balance.

  2. Click the "One-Click Realancing" button, wait for the wallet to pop up the signature request, and click "Sign" to confirm:

    Realancing

  3. After that, you can check the rebalancing status in the "Rebalancing Record" tab. After a successful rebalancing, you can refresh the page to see an increase in the hot wallet balance:

    Rebalancing Record

    tip

    Any member of the merchant can initiate the rebalancing, and the initiator needs to pay the network fee. The rebalanced funds will only go into the merchant's hot wallet.

    The platform will deduct fees from the rebalanced funds proportionally.

Withdraw Funds​

PRO Merchants​

Merchants can use the transfer function to withdraw funds from the hot wallet to their own wallet. Please refer to the Multisig Transfer Tutorial for specific instructions.

When processing withdrawal and refund requests from users, merchants also use funds from the hot wallet, and the principles and operational processes are similar to transfers.

STD Merchants​

The financial wallet address for STD merchants is the same as the hot wallet address. Merchants can directly withdraw funds using the financial wallet address or perform operations such as transfers, withdrawals, and refunds.

Lite Merchants​

Lite merchants can use the "One-Click Claim" function on the asset details page to claim funds from the cold wallet to the wallet they used during registration. The platform will deduct fees proportionally from the withdrawn funds.

One-Click Claim

When performing operations such as transfers, withdrawals, and refunds, lite merchants initiate the transactions directly from their logged-in wallet.