Creating a Wallet

Those who signed up for the Octet console can build a transaction system. To build your system using APIs, it's necessary to first generate a wallet for transactions. This can be done by accessing the console with the owner account and clicking the [Generate a New Wallet] button on the home screen. Following steps to complete the wallet generation process are explained under. Note that only the owner account can generate a wallet, so ensure you are accessing the console with the correct account.

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Setting Up the Wallet Structure

Set up the wallet structure—platform, wallet type, NFT availability—depending on the service you want to operate. Once the wallet is generated, the structure cannot be changed.

1. Choosing the Platform

Choose a platform to generate a wallet. You may check the platforms supported by Octet on the [Supported Platforms] page.

2. Choosing the Wallet Type

Choose the wallet type. Octet supports three types of wallets, and each has the following features.

(1) Custodial Wallet

To build centralized services such as exchanges or wallets, you must use a custodial wallet. For a custodial wallet, assets deposited in child addresses are gathered at the main address. The gathered assets are stored in the main address, and you may withdraw them from that address only.

(2) Semi-custodial Wallet

To respond to the travel rule or to be compatible with decentralized services such as DeFi or P2E, it is recommended to use semi-custodial wallets. Assets deposited in semi-custodial wallets are not gathered at the main address. Assets are deposited in the child address and withdrawn from there. However, you may use the main address to deposit and withdraw assets as well.

(3) Vault Wallets

Vault wallets are for those who want to safely keep the asset without withdrawal. The client manages all keys for vault wallets. Therefore, Octet’s Withdrawal API cannot withdraw the asset, but you must create the transaction yourself and process the withdrawal.

3. Choose Whether to Enable NFT

If you choose a platform that supports NFT, you may choose whether to enable NFT or not (however, the NFT feature requires an additional contract).

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Setting Up Keys

Choose the key management method of the main address. Once the wallet is generated, the key management method cannot be changed. Octet supports two types of key management method, and each has following features.

1. Joint Management

Octet and the respective client each manage one of the two multi-sig keys generated by dividing a private key. It is recommended to use joint management if you want strong security against outside threats. However, you must keep the multi-sig key safe and prevent any leakage.

(1) Generating Keys

Generate a main address and multi-sig keys with the key-generating program. The program does not gather any information, and the generated information is only stored in the device that ran the program.

1. Download the key-generating program and the RSA public key.
2. Launch the program and generate keys by following the steps.
3. Download the key card file. The generated information can only be checked on the key card.
4. Check the generated main address and multi-sig keys. The multi-sig keys are encrypted by the RSA public key."

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️ Keep the key card secure.

Key cards contains important information to access the client’s assets. They must be stored safely and not be leaked outside. It is recommended to either print the key card or save it in a secure USB and store it in a safe.

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Lost key cards cannot be recovered.

It's important to note that Octet does not retain any of the client's key information. Therefore, if the key card is lost, it cannot be recovered, and it is crucial to handle it with great care and attention to prevent any potential security issues.

(2) Register Keys

Register a main address and a multi-sig key for withdrawal from Octet.

1. Enter Address on the key card into the main address field.
2. Enter RSA Encrypted Octet Key on the key card to the Octet Key field.

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Enter the encrypted Octet key.

Once the wallet is generated, the Octet key cannot be changed. When the Octet key is invalid, an error will occur when authorizing the withdrawal and halt it. Make sure that you entered the encrypted Octet key correctly.

2. Consignment

Octet generates and securely manages a single private key on your behalf, relieving you of the responsibility of managing the key yourself. This is especially recommended when constructing a high-level security system may not be feasible. Upon selection of consignment, the main address and the private key are automatically generated.

3. Vault Wallet (Xpub)

The client manages all keys for vault wallets. Therefore, the xpub and derivation path to generate the address should be entered. For that, the derivation path is reserved up to number five.

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Wallet Information Confirmation

Make sure the information about the wallet to be generated is correct. Once the wallet is generated, the information cannot be changed. Enter the name of the wallet and OTP authentication code, and then click the [Create Wallet] button to generate a wallet.