To support exchange operations (i.e. the management of an exchange’s internal assets and customer deposits/withdrawals), exchange accounts are provided to exchange operators.
An exchange that has been approved by the BPC is provided with a parent account (created by Oneiro) that is officially identified on the blockchain as an exchange account via an account attribute system variable (set by Oneiro). Exchanges can then create arbitrary trees of child accounts derived from their parent account. The parent and all child accounts accounts are exempt from SIB when sending ndau, ignore incoming recourse periods, and earn EAI (if delegated) at a flat rate of 2%.
The following guide is written for exchange managers and is designed to help onboard new exchanges more quickly. It reviews how to create and use exchange addresses (progenitor addresses and child accounts).