CEX Mode

CEX mode is Everstrike's custodial mode, where Everstrike creates and manages a wallet on your behalf.

Here's how it works:

• Upon account creation, Everstrike generates a new public key for your account. This public key is stored on Everstrike's servers, and is used to derive your CEX mode deposit address.

• Your public key has an associated private key. This private key is derived programatically from an Everstrike-controlled master private key.

• Upon depositing funds to your CEX mode deposit address, Everstrike's off-chain infrastructure checks your deposit transaction, verifying that it is final and within the limits associated with Everstrike's CEX mode.

• If the deposit passes the checks, your Everstrike account is automatically credited with the full deposit amount. If not, nothing happens.

• Once you want to withdraw, you simply submit a new withdrawal via Everstrike's frontend UI. You can withdraw to a blockchain address (CEX mode), or directly to your own wallet (DEX mode). If you choose the former, Everstrike's off-chain infrastructure automatically checks your withdrawal, verifying that it does not exceed your available balance, and that it is within the limits associated with Everstrike's CEX mode.

• If the withdrawal passes the checks, an Everstrike Labs employee manually derives your private key from the Everstrike-controlled master private key, and signs a transaction that can transfer your requested withdrawal amount to the blockchain address chosen by you in your withdrawal request. This happens in a fully offline environment, with strict checks in place. At no time is any private key exposed to the internet.

• Once the transaction has been signed and verified, it is manually transferred to an online environment, and published to the blockchain.

Note:

• The Everstrike-controlled master private key is stored in a highly secure offline environment, and is never exposed to the internet. This, in turn, means that your own private key is also never exposed to the internet. At no point in time can a hacker or malicious program gain access to your private key.

• Any funds that are sent to your CEX mode deposit address remain there until the time at which you withdraw. At no point in time are any of them transferred to a "hot wallet" or a "cold wallet", as seen in other centralized exchange environments.

• Using CEX mode requires trusting Everstrike Labs. You do not control your private key, and with this comes risks. If you are not comfortable with these risks, we recommend that you use Everstrike in DEX mode instead.