Off-chain model

The off-chain model operates on the Nami Exchange platform, providing a fast, user-friendly trading experience ideal for users unfamiliar with blockchain technology or those who prefer not to manage Web3 wallets. This model focuses on simplicity, efficiency, and broad accessibility.

• Spot trading and internal transfers: Off-chain vBTC is displayed within the Spot Wallet on Nami Exchange, allowing users to trade pairs such as vBTC/VNST or transfer vBTC between Nami accounts without incurring gas fees or waiting for blockchain confirmations - ideal for frequent trading with optimized speed and cost.

• Simple Minting and Redeeming process: Users can mint off-chain vBTC by selecting supported assets (BTC, USDT, USDC, ETH, BNB, SOL, SUI), entering the desired amount, and confirming the transaction on Nami Exchange. Similarly, redeeming only requires users to input the vBTC amount, verify balances, and receive BTC or another asset. All transaction history is clearly recorded under the “History” section for easy tracking.

• User-friendly for newcomers: The off-chain model requires no private key management or blockchain wallet setup. Users simply log into Nami Exchange (via email, password, and account verification) to begin using vBTC immediately, with account synchronization between Nami Exchange and the vBTC system.

• Flexible asset withdrawal: Users can withdraw vBTC to a personal on-chain wallet or convert it into other supported assets. The withdrawal process is optimized to ensure speed and security.