Deposits
A deposit is a transaction made by the user to a shift, in order to receive the equivalent amount in the coin chosen by user.
Minimum and Maximum Deposit Range
The Minimum Deposit Range has a default value of 3 USD and is being determined after incorporating the network fees. The Maximum Deposit Range is always set by SideShift.ai and varies from coin to coin.
For more detailed information to help if the amount sent is outside the deposit range, please check out:
Determining the Minimum Deposit Range
Here's how we can calculate the Minimum Deposit Range assuming the network fee is 20 USD:
Minimum Deposit = (1 / 0.2) * network fee
Minimum Deposit = (1 / 0.2) * 20
Minimum Deposit = 100
In this scenario, we compare the calculated value of 100 USD to the default minimum deposit, assuming a default minimum deposit of 3 USD, to determine the Minimum Deposit Range. The Minimum Deposit Range is the higher of these two values, which in this case is 100 USD.
Deposit status
| Status | Name | Remarks |
|---|---|---|
waiting | Waiting for deposit | No deposit detected for the shift |
pending | Detected | SideShift.ai's has detected the deposit and is waiting for 1 block confirmation for majority of the coins and 2 confirmations for Litecoin, Dash, Doge. The rate is locked-in |
processing | Confirmed | The deposit has been confirmed in the blockchain and is being processed by SideShift.ai |
review | Under human review | The deposit cannot be automatically processed. After human review it can be settled or refunded. |
settling | Settlement in progress | SideShift.ai has created the transaction which settles the deposit and it's waiting for 1 confirmation. |
settled | Settlement completed | Settlement transaction has received 1 block confirmation |
refund | Queued for refund | User is required to enter a refund address on https://sideshift.ai/orders/SHIFT_ID or via the /refund-address endpoint, unless pre-defined in one of the /shifts endpoints. |
refunding | Refund in progress | Refund transaction created, waiting for 1 confirmation into the blockchain. |
refunded | Refund completed | Refund transaction has received 1 block confirmation. |
expired | Shift expired | The created shift has reached the end of its validity period without receiving any deposits. |
multiple | Multiple deposits detected | Use the deposits array in the endpoint response for data about each deposit |
Handling Multiple Deposits
Fixed Shifts
Only the first valid deposit is settled. Any additional deposits that are received after the first deposit are refunded to the user.
Variable Shifts
The shift can receive and process multiple deposits individually. Deposits are not merged; each one is handled based on its own specific conditions and the prevailing market rates at the time of processing.
It is not desirable for users to make multiple deposits to the same shift, and integrators should avoid encouraging this behavior.
Deposits within EVM networks
For supported EVM networks, SideShift.ai uses a deposit address, which is a smart contract for tokens, for each created shift. When a balance is detected on this contract, the system performs a sweep operation. This operation sends the funds from the deposit address to SideShift.ai's main address. The sweeper transaction is then detected as a "deposit".
Occassionally, this sweeper transaction doesn't get broadcasted to the network and leads to another attempt to sweep the funds from the deposit address. In this case, another deposit will be created with pending status that will be processed, while the first deposit will remain in pending status.
Deposit Issues
Sometimes deposits will not be automatically processed for various reasons as summarized in the table below. The issue field will have a value when status is review or refund. If status is multiple and one of the deposits are in review or refund status, this deposit object will have an issue field.
| Issue | Remarks | Resolution |
|---|---|---|
amount over max | User sent over the maximum amount. | Processed or refund after human review |
amount under min | User sent below the minimum amount. | Processed or refund after human review |
refund required | The shift will be refunded after a refund address is provided | Refund after an address is provided |
incorrect amount | User sent the incorrect amount for a fixed rate shift. | Processed or refund after human review |
order expired | The shift has already expired when SideShift.ai detected the deposit | Processed or refund after human review |
max 1 deposit | Fixed rate shifts can have maximum one deposit | Refund after an address is provided |
too many deposits | More than 5 deposits have been made to a variable rate shift | Refund after an address is provided |
review | Shift is under human review and will be processed or refunded | Processed or refund after human review |
coin unavailable | Either the deposit or settle method is currently not available for shifts. | Refund after human review |
rate drift | The rate changed too much between the time the quote was created and the deposit was detected. | Processed or refund after human review |
duplicate | The deposit is a duplicate of another deposit. | Refund after human review |
low effective rate | The effective rate is too low as the network fees would consume too high % of the shift value | Refund after an address is provided |
Deposit Rejection Rules
Below Minimum Rejection
Applies to: Variable rate shifts
Rule: Deposits below the minimum amount might be settled if the coin for settlement has low network fees. If the network fees are high (e.g., BTC), the deposit will remain rejected.
Incorrect Amount Rejection
Applies to: Fixed rate shifts
Rule: Deposits with an incorrect amount will be auto-refunded if the coin for refund has low network fees and the refund address has been set. Otherwise, the refund address will be requested. If the network fees are high, the deposit will remain rejected for review. Incorrect amount deposits with a slightly different value might be settled.