What is a Withdrawal Address?

In order to withdraw your funds after our frontrunner intervenes, you must set a withdrawal address. This withdrawal address has the ability to retrieve the funds that are being held in the vault.

A withdrawal address is the only address able to cash-out recovered assets from the vault

If we successfully prevent an attack, we move your protected assets to our Noncustodial Vault. The withdrawal address is the only address able to withdraw your assets from the Vault.

When your tokens are inside the Vault, no one else (not even Harpie) can withdraw your stored tokens.

What address should I use?

As a rule of thumb: use a withdrawal address that is different from your connected wallet.

Your withdrawal address can be any wallet you own, but we suggest that you create a new wallet, write down the private key or seed phrase of that wallet, and store it in a safe place. You can change your withdrawal address any time, and you can even change it after your funds are sent to the Vault.

Why a different address?

The withdrawal address is an important feature designed to keep you and your assets secure.

Approve is a standard function built into almost all tokens and NFTs. It allows anyone to withdraw the approved asset at any time. Harpie looks out for approve transactions and moves your protected assets out of your wallet any time that an approval originates outside of your trusted network.

That said, the approval will still go through, since approvals can happen without needing a balance in the wallet. Moving your assets back into your compromised wallet will allow a thief to regain access to them.

A withdrawal address with a different address gives you the power to move your tokens to a fresh and safe wallet if your original wallet gets compromised, minimizing your risk when recovering assets from the vault.