📦Emblem vault unlocking
Last updated
Last updated
Before you can unlock a vault and move your assets to another wallet or blockchain, you must:
Approve a single one-time transaction.
Have a native wallet that is ready to import your assets into.
Understand how private keys and mnemonic phrases operate.
Understand that once a vault is unlocked (and the private keys are displayed), the underlying NFT is burned and becomes non-transferrable.
Send some of the native cryptocurrency inside the vault to use as a transaction fee. (optional)
Unlocking is an Emblem Vault term used to reference the action of removing the contents from inside the vault and import them into a native blockchain wallet of the user's choice. Why would a user move their NFTs from a vault? The reasons vary, but often it is to store their assets in a self-custodial wallet for security, storage, or transactional purposes.
When a vault is unlocked, the vault (NFT) is burned and becomes owned by the null address 0x000000... Once the vault becomes non-transferrable, the mnemonic phrase and private keys are displayed to all deposit addresses (Emblem Open) or a single deposit address (Curated Collections). This prevents users with malicious intent from selling vaults while knowing the private keys and giving the ability to remove all contents from inside of the vault at anytime. After private keys are shown, users are free to import them into any native wallet of their choice that is supported by that blockchain.
After completing the single one-time approval, you will be presented with the option to Unlock Vault. Once this gas transaction has been fulfilled, that selection will be replaced with an option to Get Keys. You will also notice a green "CLAIMED" at the bottom of the vault, which means the NFT has been burned and is owned by the Null Address. You will not be eligible to sell this vault on OpenSea and it will only be accessible through Emblem.Finance.
After selecting Get Keys, a selection of private keys will be displayed for each blockchain. It will be up to the user to decide how they would like to import their assets to another wallet.
After completing the single one-time approval, you will be presented with the option to Unlock Vault. Once this gas transaction has been fulfilled, that selection will be replaced with an option to Get Keys. You will also notice a green "CLAIMED" at the bottom of the vault, which means the NFT has been burned and is owned by the Null Address. You will not be eligible to sell this vault on OpenSea and it will only be accessible through Emblem.Finance.
After selecting Get Keys, a single private keys and mnenomic phrase will be displayed for the blockchain specific to that Curated Collection. It will be up to the user to decide how they would like to import their assets to another wallet.
Reference: "https://docs.emblem.wiki/overview/vault-unlocking"
