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No. Figure provides a wallet to attach to 3rd party, decentralized exchanges that support Hash markets.
Figure’s broker dealer does periodically operate marketplaces that require a Figure or 3rd party approved wallet. However, the Figure Wallet can be used on other exchanges not operated by Figure’s broker dealer.
Figure Wallet is a service we have integrated into Provenance Blockchain where we help manage technologies required (addresses and keys) for storage and handling of digital assets and tie these to your Provenance account. Figure Wallet is similar to the way Hash 1.0 assets were managed in the Provenance ecosystem and is the easiest approach for Hash holders without deep experience in holding their own digital assets.
Self custody requires that the Hash holder manage storage of their private keys and recovery mnemonic phrase. How these are stored - locally on one’s computer or offline - is at the discretion of the user. The most important consideration around self custody is that the security and availability of the information required to transact in a digital asset is the responsibility of the investor. Figure Wallet helps manage security and availability on behalf of the wallet-holder and provides an interface to transact with the digital asset that abstracts away from the technical detail involved with digital asset management.
The Figure Wallet can be used for investors to transact in digital assets. Additional software and hardware based wallet support will follow shortly.
Digital asset tokens are stored on the Provenance blockchain under accounts with unique addresses tied to the Provenance user account of the digital asset holder. The keys used to transact with digital 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.
Users can connect to a Distributed Limit Order Book (DLOB) through Figure Wallet where one can directly buy and sell Hash.
The process for delegating a Hash stake to a validator (Figure or third party) is the same whether or not one uses Figure Wallet. This can be accomplished through the use of the Staking page in the Provenance Explorer. Additional options for delegation integrated into Provenance accounts are expected soon.
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.