Proxies

A Proxy is a permanent address that routes deposits on any network to a wallet and asset of choice. Proxies are state-machines designed to work in real-time; typically completing payouts in less than 30s, and can process deposits as little as $0.01.

Proxies provide some major benefits:

Broad Coverage

Expand your support beyond USDC/USDT to 1 million assets, including an ever-growing list of stablecoins and networks.

Cost Effective

Swivell evaluates billions of possibilities in real-time to find the most efficient way to convert the deposit into your desired stablecoin. Swivell does this without any third parties, minimizing your risk and eliminating third-party fees.

Compliance Firewall

Protect your wallets from tainted funds. Each depositor is assigned a real-time score based on screening for AML, sanctions, and other illicit activity.

Infinitely Scriptable

If "all-into-one" semantics don't fit your use-case, Swivell's Policy Engine provides granular control over how each deposit is processed. For example, a single proxy can be configured with the following rules:

“Forward USDT deposits from all networks to Solana USDT”

effect: "effect_forward"
condition: "deposit.symbol == 'USDT' && !deposit.is_possible_spam"
forward: {
  asset: 'USDT',
  network: "solana",
  recipient: "EAGkHiMuuD7jXDchXF5MfWCcQ3xGaL9zZv9LnyZUcSa9",
}

“Forward DAI deposits from all networks to Base USDC ”

effect: "effect_forward"
condition:"deposit.symbol == 'DAI' && !deposit.is_possible_spam"
forward: {
  asset: 'DAI',
  network: "base",
  recipient: "0x5A6d87BB8BE80A0bD1c31125c76FfA247a73cbc6",
}

"Freeze deposits from an address"

effect: "effect_freeze"
condition: "deposit.originators.exists(o, o.address_checksum == '0xBa3562e583Cea25fa67235Cd6432eF89060817D4')"

Glossary

Here are some resources related to proxies.

`ProxyDeposit`

A transaction that moves assets into the proxy.

`ProxyPayout`

A transaction that settles deposits as stablecoins in your external wallet. Payouts run whenever deposits accrue enough value. There can be multiple deposits in a payout.

`Policy`

A rule that defines how the proxy should handle a deposit.