Policy Engine
What are transaction policies?
Policies govern the transaction approval processes of self-custody wallets, automating internal approvals within institutions.
With Safeheron’s self-custody wallet, users can tailor transaction approval workflows to their specific needs, creating customized processes for different transactions or teams. This approach optimizes the entire approval system.
What is Policy Engine?
Safeheron Policy Engine has been fully upgraded for users to centrally manage policies tailored to various scenarios, including transaction policies, Web3 policies, and MPC Sign policies. Users can independently configure transaction policies through the Safeheron Web Console.
Different types of policies support different types of transaction tasks:
Transaction Policy
✅
❌
❌
MPC Sign Policy
❌
❌
✅
Web3 Policy
❌
✅
❌
To configure advanced policies, please update the Safeheron App to version 1.5.0 or later.
Transaction policy
Configure transaction policies
Log in to the Web Console, then go to Settings ➡️ Policy Engine ➡️ Transaction Policy to add a new policy.
Configuring a transaction policy involves six steps: naming the policy, selecting the initiator, choosing the source, selecting the destination, choosing the asset, and defining limiting conditions.
Next, we will focus on the steps of Select transaction initiator, Choose transaction asset, and Set up limiting conditions.
Select transaction initiator
You can choose not to restrict transaction initiators or allow API Keys or team members with Create Transactions permission to initiate transactions.
If you select all API Keys or all members, any newly added API Key or member with Create Transactions permission will automatically be included in the list of initiators for the policy.
Choose transaction asset
A transaction policy can be applied to one or more assets across a single or multiple networks.
If you select a single asset, the following limiting options are available:
Value (USD): The value of each transaction, converted into USD based on the asset.
Amount: The quantity of the asset in each transaction.
If multiple assets are selected, the limiting option will be limited to Value (USD) only.
Please note that the chosen limiting option will affect the subsequent configuration of limiting conditions.
Set up limiting conditions
For a single transaction and cumulative transactions within a period, you can define different limit ranges based on transaction value or asset amount. Up to 10 non-overlapping ranges can be configured, whether for a single transaction or cumulative ones. This flexibility allows a single policy to address diverse needs across an entire business line.
You can set corresponding actions based on different limiting conditions. Currently, two actions are supported:
Approved by: Select pre-configured approval nodes to create an approval workflow for transactions that trigger the limiting conditions.
Block: Transactions that trigger the limiting conditions will be directly blocked.
Transaction policies are crucial for your financial risk control. Therefore, we employ the strictest matching mechanism to ensure the security of your funds. A transaction will only be considered successfully matched if it meets all the limiting conditions.
Select approval node
For different limiting conditions, you can select different approval nodes to create an approval workflow, with a maximum of 3 approval nodes.
If the approval members in the selected nodes overlap with the transaction initiators of the policy, and the node’s approval threshold is set to 1, there is a possibility of "self-initiated, self-approved" actions. To ensure the robustness of the approval process, please select the approval nodes based on your specific business scenarios.
Approval nodes are a critical safeguard in transaction policies. Please select approval nodes carefully to avoid frequent changes or choosing nodes that do not align with your actual approval processes.
Policy sorting
Transaction policies are a critical component in protecting assets. Each team can create multiple transaction policies and set their priority by adjusting the order of these policies.
Once a high-priority policy is triggered, other policies ranked lower will no longer be triggered.
Edit policies
The Policy Engine treats all transaction policies as an interconnected whole. As a result, the policy approval process applies to all transaction policies collectively.
You can add or edit transaction policies in the Web Console. Once the changes are finalized, click "Submit for approval" to submit all policies together for review under decision-making mode.
Review and approve policies
Once policies are submitted for approval, team admins will receive an approval task via the Safeheron App and a notification in the Web Console.
In the Web Console, admins can review the details of the transaction policy updates. If they agree with the changes, they can use the Safeheron App to scan the QR code and approve policies.
To ensure a secure approval process, it is crucial to carefully review the policy change details in the Web Console before finalizing the approval through the App. This approach helps mitigate potential risks arising from an incomplete review of the overall transaction policy configuration.
Policy matching mechanism
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