While Figure expects to eventually support numerous custody capabilities for Hash, as of our Hash 2.0 launch we offer two options - Figure Custody and self custody.
Figure Custody is a service we have integrated into Provenance where we fully manage technologies required (addresses and keys) for storage and handling of Hash 2.0 tokens and tie these to your Provenance account. Figure Custody is similar to the way Hash 1.0 assets were managed in the Provenance ecosystem and is the easiest approach for Hash investors without deep experience in performing their own custody for digital assets.
Self custody requires that the Hash investor manage storage for their private keys and recovery mnemonic phrase. How these are stored - locally on one’s computer or offline - is at the discretion of the investor. The most important consideration around self custody is that the security and availability of the information required to transact with Hash 2.0 is the responsibility of the investor. Figure Custody manages security and availability on behalf of the Hash investor and provides an interface to transact with Hash that abstracts away from the technical detail involved with digital asset management.
The Figure Wallet product can be used to transact Hash 2.0 for investors who choose the Figure Custody option. Additional software and hardware based wallet support will follow shortly after the launch period.
Hash tokens are stored on the Provenance blockchain under accounts with unique addresses tied to the Provenance user account of the Hash 2.0 holder. The keys used to transact with Hash 2.0 assets are stored using the same industry leading Hardware Security Module (HSM) technology in use by several other leading companies in the digital asset custody market.
Options for trading Hash will be expanded over the course of this year but at the outset this can be accomplished through use of the Figure Wallet product to transfer to another Hash account address and connect to Provenance apps like Marketplace. This will be followed soon thereafter to connect to a Distributed Limit Order Book (DLOB) through Figure Wallet where one can directly buy and sell Hash 2.0.
The process for delegating a Hash stake to a validator (Figure or third party) is the same whether or not one uses Figure Custody. This can be accomplished through the use of the Staking page in the Provenance Explorer (https://explorer.provenance.io/validators Opens a new window.). Additional options for delegation integrated into Provenance accounts are expected following the Hash 2.0 launch.
Self custody can be set up through the use of the Provenance Wallet product to acquire the private keys and recovery mnemonics associated with a Hash account. Instructions on how to perform this can be found at the following location: Hash Self Custody Steps Opens a new window.