Approval Process
What is approval flow?
Approval process consists of Approval Nodes approving transactions.
In the approval process, you can get time-sensitive updates on the approval status, who are involved in this approval. And, the validity of every approval result will be verified in Trusted Execution Environment (TEE).
Why do we need approval process?
Composed of approval nodes, approval flow is here to present you real-time approval process for one operation.
This is to improve the efficiency of your business operations while making sure the approval is reviewed and approved/rejected by real members in your team with their real intentions.
How do we use approval process?
The triggering conditions are different for each policy model, but the approval processes are basically the same.The approval process is designed to accommodate various business settings of our clients while also providing flexibility and security for team collaboration.
The approval process currently includes up to 3 approval nodes, with each approval node having two components.
Approver (API Co-Signer included)
Approval Threshold
Each approval node has the ability to configure approvers and approval thresholds. For example, if Approval Node 1 requires approval from 2 out of 3 members (A, B, and C), the approval node configuration would be as follows:
Approval Node 1
Approvers: A, B, C
Approval Threshold: 2/3
If a business setting requires an approval sequence, multiple approval nodes can be utilized. For instance, member A approves first, followed by members B and C. The approval node would then be configured as follows:
Approval Node 1
Approver: A
Approval Threshold: 1/1
Approval Node 2
Approver: B, C
Approval Threshold: 1/2
An MPC Sign will be executed for the transaction once the final approval node of the approval process has been completed.
📝 Please note:
The approval process employs a one-vote veto system, i.e., if one member of any approval node rejects a request, the entire approval process is terminated.
Set & change approval process
This part is done by setting up or adding or deleting approval nodes.
Present approval status
The approval process gives you real-time updates on the approval: how the approval goes, which approval node is pending approval, and who approves or rejects the transaction.
Let's see one example: Send TRX
