Proposal Summary

This XIP proposes an interim version of withdrawals that uses the Funds Recovery specified in XIP-23 and already implemented for Speedrun The Waitilist, to allow users to withdraw funds from their accounts as close as possible to the end of the Speedrun campaign.

Specification

Overview

A fully functional and secure spec for how users will withdraw funds from Infinex, or send funds to other addresses, is yet to be finalised and built. Additionally, as specified in XIP-23, more sophisticated withdrawals / send functionality will require users to opt into an account upgrade.

With the end of Infinex's Speedrun The Waitlist campaign in mind, the Core Working Group has identified a way to safely unlock funds in the protocol for users who wish to withdraw.

We propose to add UI to the Infinex App which uses the Funds Recovery functionality in the contracts to allow withdrawals, and signs the transaction with the user's Sudo Key.

Rationale

Transferring the entire asset balance per chain is a limitation of using the existing Funds Recovery functionality, but it seems preferable to unlock funds than continue to block withdrawals until work on the full withdraw/send functionality has been completed.

Technical Specification

Funds recovery allows users to send the entire balance of a single asset (e.g USDC) on a single chain (e.g Ethereum) to the Funds Recovery Address that was set up before the User deposited the asset into their Infinex Account.

A new screen will be added to the Infinex App listing each asset in the account, on each chain, and present the user with a button to transfer the entire balance to the funds recovery address. The user will sign the transaction by unlocking their Passkey.

Constraints will be:

• Only the entire balance of a specific asset on a specific chain will be transferred
• The assets can only be transferred to the pre-set Recovery Address

If a user only wants to transfer some of their assets from their account to another address, they will have to withdraw the entire balance and re-deposit the amount they want to leave in their Infinex account.

Functionality to send a specific amount of an asset to any address will be specified and implemented separately.

Copyright

Copyright and related rights waived via CC0.