A place for developers to talk about building on Farcaster.

/dev

do any major cexes use smart contracts for sweeping customer deposits?

anything along the lines of
1. per-token deposit contracts
2. omnibus deposit contracts
3. sweeper contract moves hot wallet deposits

if so: which ones?

if not: why not?

prev: /nook, protocol @ opensea, co-author seaport & stuff.
professional @slokh and @0xalexander fanboy

Kraken does (or at least used to) do this for gas savings. I believe it was #3, a sweeper contract that would allow them to move all deposited funds to their wallets in one transaction, but it was still a per-user contract.

Contributor @ /walletbeat.

Censorship resistance requires privacy.

ty! so users deposit to a sc? or was it a hot wallet that approved the sweeper to move tokens

Users used to deposit to their user-specific deposit smart contract, and a Kraken hot wallet would call such contracts in one txn to withdraw from them when needed.
They stopped using this and reverted to plain EOAs though:

Users used to deposit to their user-specific deposit smart contract, and a Kraken hot wallet would call such contracts in one txn to withdraw from them when needed.
They stopped using this and reverted to plain EOAs though: https://support.kraken.com/hc/en-us/articles/simplifying-ethereum-ecosystem-based-deposits