🔐Withdrawal Process and Security Measures

Introduction

The withdrawal process on IntentX is meticulously designed to ensure security and transparency, providing users with a seamless experience while prioritizing the safety of their assets. This document outlines the withdrawal process and the security measures implemented to safeguard users’ funds.

Withdrawal Process

• Request Initiation: Users initiate the withdrawal process by submitting a withdrawal request. This request is immediately acknowledged by the system, initiating the security protocols designed to protect the assets during the withdrawal process.

• Fraud-Proof Window: Upon receiving a withdrawal request, IntentX activates a Fraud-Proof Window (12 hours). This is a predefined time interval designed to prevent fraudulent activities and double-spending. During this window, the system meticulously verifies the legitimacy and accuracy of the withdrawal request.

• Withdrawal Approval: After the Fraud-Proof Window, and once the withdrawal request is verified as legitimate, the system approves the withdrawal. The funds are then securely transferred to the user’s designated account.

• Cancel Withdrawal: After a withdraw request has been intiated, users may cancel their request at any time during the Fruad-Proof Window, and the funds will be allocated back into the trading account.

• Multiple Withdraw Requests: Note that if users queue a second withdraw request while one is currently active, it will reset the entire withdraw to 12 hours (including the initial).

Note: IntentX is considering integrating third-party services to expedite the withdrawal process in future versions. These services will function during the Fraud-Proof Window to authenticate the legitimacy of the withdrawal request swiftly and efficiently.

Security Measures

• Two-Factor Authentication (2FA): IntentX recommends users enable 2FA to add an extra layer of security to their accounts. This feature requires users to provide two types of identification before they can access their accounts, significantly reducing the risk of unauthorized access.

• Encryption Protocols: IntentX employs advanced encryption protocols to protect sensitive data during transmission. These protocols encrypt the data, making it unreadable to unauthorized individuals, thereby safeguarding the users’ information and assets.

• Audits: To ensure the platform’s security infrastructure remains robust and up-to-date, IntentX will conduct smart-contract audits. These audits will identify and rectify potential vulnerabilities, ensuring a secure trading environment.

Conclusion

The withdrawal process at IntentX is a blend of user-friendly procedures and stringent security measures designed to provide a secure and smooth experience for users. With features like the Fraud-Proof Window and 2FA, IntentX demonstrates a strong commitment to safeguarding users’ assets while maintaining an efficient and reliable withdrawal process.