Custodian
Custodians are responsible for the secure storage of the underlying assets that back Universal tokens. They play a crucial role in ensuring the security and integrity of the protocol’s reserves.
Last updated
Custodians are responsible for the secure storage of the underlying assets that back Universal tokens. They play a crucial role in ensuring the security and integrity of the protocol’s reserves.
Last updated
Responsibilities of a Custodian:
Asset Security: Stores the private keys that control the underlying crypto assets.
Collateral Management: Manages deposits and withdrawals of assets used for the minting and burning of Universal tokens.
Regulatory Compliance: Works with auditors and third parties to ensure transparent asset backing.
Custodian Workflow:
Merchants deposit collateral into dedicated Custodian-controlled wallets.
Custodian verifies and holds the assets, ensuring that every minted uAsset is fully backed.
Tokens are burned upon redemption, releasing the equivalent amount of collateral back to the Merchant.
The current Custodian for uAssets is Coinbase Prime.
