XFTAssetSwaps_V5

XFT acts as the liquidity provider and escrow manager, enabling instant redemptions for illiquid CLO shares.

XFTAssetSwaps_V4 0xfbae4ba53a2FcCD599047d4B2Ff77647e0eb308C XFTAssetSwaps_V5 0x05EC1faCe695f78a5A9530c612345603f926EAa7 USDXT 0xC1BF9854E43b84f3abec5f5d1C72F0a6f602034b OCTIX 0x42bAcAaE1D28b3310a4415cb1684491A2fdcC65E

COUNTERPARTIES

XFT 0x2f572059DbC598C8acfeA4AF06FE4f7669D1b3b1 Octagon 0x82fcEd3D9D0CC5e770C00a3763354B76AF140546 Investor 0xE4e26f8B4C69E554a113880cF40D21ca70d51e0a

INSTANT REDEMPTION

1 Investor requests redemption from OCTAGON 2 OCTAGON notifies XFT 3 XFT initiates escrow mint via swap.connect(admin).initiateEscrowMint()4 Investor deposits OCTIX and gets USDXT 5 XFT releases escrow as OCTAGON pays USD

INSTANT SUBSCRIPTION

1 Investor requests subscription from OCTAGON 2 OCTAGON notifies XFT 3 XFT calls initiateEscrowMint(id, investor, USDXT, OCTIX, amount, timelock) 4 Investor calls depositEscrow(id) → locks USDXT + mints OCTIX 5 XFT calls releaseEscrow(id, amount) → sends USDXT to OCTAGON

Why instant redemption? Liquidity management.

Why instant subscription? Programmable 24/7/365 investing at NAV.

Why standard? Permissionless atomic P2P swaps.

CORE FUNCTIONALITY

Hash Time Locked Contracts (HTLC)
Salts
Standard vs. Escrow

Hash Time Locked Contracts (HTLC) The protocol combines cryptographic hash locks with time-based expiration to enable trustless atomic swaps. Each swap requires a secret preimage generating a cryptographic hash, ensuring exchanges execute atomically or not at all. Time locks provide automatic refunds if swaps remain incomplete.

Salt-based ID Generation The contract generates unique swap identifiers using salt parameters combined with sender addresses and blockchain data. Zero salt values trigger automatic collision-resistant generation. Non-zero salts enable predictable coordination while maintaining sender-specific uniqueness.

Standard & Escrow. XFTAssetSwaps_V5 offers two types of swaps. Standard for P2P trustless exchange with hashlock reveal. Escrow for admin-controlled instant minting

SWAP TYPES

1) STANDARD

No admin involvement: Parties swap tokens directly using cryptographic proofs. Permissionless.

1 Initiator locks tokens with hashlock (secret preimage) 2 Participant locks counterpart tokens 3 Either party reveals preimage to unlock both sides 4 Time-locked refunds if not completed

2) ESCROW

Admin-controlled operations enabling instant token minting against locked collateral deposits. Users deposit escrow tokens and receive minted tokens immediately upon confirmation. Administrators progressively release escrowed collateral to designated recipients as external payment confirmations arrive, supporting partial release mechanisms and emergency refund capabilities.

SEQUENCES

STANDARD SWAP 1 Alice calls initiateSwap(id,Bob,assetA,assetB,amtA,amtB,hl,tl) 2 Bob calls participateSwap(id) 3 either calls claimSwap(id,preimage) → assets swapped 4 after tl either calls refundSwap(id) → deposits returned

Alice: 100 USDX → Contract
Bob: 100 USDXT → Contract
Alice reveals preimage → gets 100 USDXT
Bob uses preimage → gets 100 USDX

ESCROW 1 Admin calls initiateEscrowMint(id,User,escrowToken,mintToken,amt,tl) 2 User calls depositEscrow(id) → escrowToken locked + mintToken minted 3 Admin calls releaseEscrow(id,partialAmt) → escrowToken → recipient 4 Admin calls releaseEscrow(id,remainingAmt) → final release

User: 100 FOBXX → Contract
Contract: 100 USDXT → User (instant)
Admin: releases 50 FOBXX → Fund (payment 1)
Admin: releases 50 FOBXX → Fund (payment 2)

FUNCTIONS

PUBLIC AND EXTERNAL FUNCTIONS
initiateSwap(salt, participant, assetA, assetB, amtA, amtB, hashlock, timelock): Creates P2P atomic swap
participateSwap(id): Participant deposits their asset
claimSwap(id, preimage): Reveals secret to claim both assets atomically
refundSwap(id): Returns assets after timelock expiry
initiateEscrowMint(salt, user, escrowToken, mintToken, amount, timelock, recipient): Admin creates escrow with instant mint
setEscrowRecipient(id, recipient): Admin updates release target
depositEscrow(id): User deposits collateral, gets instant tokens
releaseEscrow(id, amount): Admin releases collateral to recipient progressively
refundEscrow(id): Admin refunds escrow to user
batchReleaseEscrow(ids, amounts): Admin releases multiple escrows efficiently
getSwap(id): Returns complete swap details
getBasic(id): Returns core swap info
getStatus(id): Returns swap status and progress
isIdUsed(id): Checks ID collision
previewId(salt): Previews ID before creation

PRIVATE AND INTERNAL FUNCTIONS
generateId(salt): Creates unique ID from salt or auto-generates
_releaseEscrowInternal(id, amount): Internal batch release helper

EVENTS
SwapInitiated(swapId, swapType, initiator, participant): Swap creation
SwapCompleted(swapId): Successful completion
SwapRefunded(swapId): Refund execution
TokensLocked(swapId, token, user, amount): Asset lockup
TokensMinted(swapId, token, to, amount): Token creation
TokensReleased(swapId, token, to, amount): Asset release
EscrowProgress(swapId, released, remaining): Progressive release tracking
RecipientChanged(swapId, oldRecipient, newRecipient): Recipient updates

ROLES
DEFAULT_ADMIN_ROLE: Grant/revoke roles
ADMIN_ROLE: Execute escrow operations, manage flows

CONTRACT ABI

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