Transforming And Simplifying Vault Management With Automation Vaults

Transforming And Simplifying Vault Management With Automation Vaults

Technology Platform Updates
Transforming And Simplifying Vault Management With Automation Vaults

Automation Vaults is the latest addition to our vault solutions lineup, following the success of our innovative Smart Vaults. As the name implies, Automation Vaults offer a more versatile range of options for automating your transaction activities while maintaining the same high degree of flexibility that our solutions are known for.

With the release of Automation Vaults, clients now have three distinct vault options to choose from based on their specific needs: General Vaults, Smart Vaults, and Automation Vaults. You can set up any combination of these vault types to best suit your business operations and requirements, providing a high degree of customization and efficiency in managing your assets.

How Do Automation Vaults Work?

Vaultody's Automation Vaults leverage our advanced Smart Automation feature, enabling clients to establish and implement different automation rules for managing assets across addresses within the vault. This feature significantly enhances transaction efficiency by eliminating the need for manual vault management.

The process is straightforward: once the predefined conditions set by the client are met, transaction requests are automatically executed without any need for intervention from the client's team members. Everything operates according to the owner's configured settings without compromising security, ensuring that transactions are processed swiftly and efficiently, perfectly aligning with the client's specific requirements.

Automation Vaults provide numerous advantages, including the ability to create and implement an unlimited number of custom rules. This flexibility allows clients to apply as many automation conditions to their vaults as needed, tailoring the system to their specific requirements. Best of all, there are no restrictions whatsoever on the creation of custom rules.

Linking Addresses in Automation Vaults

Clients can easily access their dashboard to find all the essential information about their addresses. The dashboard is where address linking takes place. The dashboard is where clients link their receiving addresses to enable transactions based on predefined rules.

Note that there is a very small fee starting from 0.002 BSC that clients are paying for each address that is being linked. Despite that the fee is small and its value differs from one blockchain network to another, the best practice for clients would be linking only addresses that they are planning to actively use. 

When to Use Automation Vaults and How They Compare with Smart Vaults

Automation Vaults and Smart Vaults share many features and benefits. For instance, both vault types allow clients to generate unlimited deposit addresses, although the exact number may depend on your chosen subscription plan with Vaultody. Additionally, each vault type includes a station address, also known as a gas tanker, which covers all transaction fees and effectively eliminates the industry-popular issue called wallet dust. Furthermore, clients can execute batch transactions from both vault types, enhancing fund optimization and reducing transaction fees.

Differences between Automation and Smart Vaults

Automation Vaults are ideal for customers who want to introduce some sort of automation rules to their transactions. For example, you may want to consolidate deposits placed by your client to a specific address each day at 22:00 o`clock. Instead of placing numerous transactions manually, we are automating this process for you. 

In another scenario consider you wish all received transactions that exceed a certain threshold to be redirected to another address. For instance, all transactions that are over $10,000 USD will be automatically sent to an address of your choice and all transactions with amounts of less value will remain in the address to which they were transacted.  

Based on the example above we illustrated how owners can set specific rules that dictate what actions occur under certain conditions. This means that once a rule is in place, transactions are automatically processed according to the owner's preferences, eliminating the possibility of developers' mistakes and increasing security in parallel.

Automation Vaults offer indisputable efficiency through fully automated transaction execution processes. They provide extensive customization options, enabling customers to set specific rules that precisely fit their needs. Moreover, automation significantly reduces the risks of human errors typically associated with manual transactions.

However, if we add Smart Vaults to the picture, the first difference would be the use cases. Smart Vaults are designed for businesses that handle and manage a large number of addresses, whereas Automation Vaults are more suitable to businesses that make a large number of transactions. Moreover, in Automation Vaults you are obliged to create an automation rule first, whilst with Smart Vaults there are no automations and clients can perform manual transactions whenever they desire - without conditions and rules in place, keeping the security standards in line. 

Unsure Which Vault to Choose?

No problem! Our sales team is here to help. We will discuss your specific needs with your representatives and provide tailored suggestions for your onboarding process. Even if you choose to proceed without consultation, remember that you can create all types of vaults within your account, ensuring a barrier-free experience.

For assistance, please email us at [email protected], and our team will respond promptly.

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