Deposit Vault
The Deposit Vault enables sending tokens to anyone—even if they haven't signed up yet. Funds are securely held on-chain until the recipient verifies their identity.
Supported Chains
The Deposit Vault is available on Solana and Base only.
How It Works
- Send: You send tokens to a social handle, phone number, or email
- Hold: Tokens are locked in a secure on-chain vault
- Notify: The recipient is notified
- Claim: They sign up, verify their identity, and receive the tokens
Why Use the Vault?
- No address needed: Send using @handles, phone numbers, or emails
- Recipients don't need Drop yet: Funds wait until they sign up
- Non-custodial: Tokens are held on-chain, not by Drop
- Cancellable: Sender can cancel before claim
On-Chain Implementation
The vault uses native smart contracts on each chain:
- Solana: Native Solana program, SPL Token compatible
- Base: Solidity smart contract, ERC-20 compatible
Both implementations store:
- Sender's wallet address
- Recipient's identifier (hashed for privacy)
- Token and amount
- Timestamps and status
Vault Lifecycle
Pending
After you send:
- Tokens are locked in the vault
- You can view status in Activity
- You can cancel and get tokens back (before claim)
Claimed
When the recipient signs up and verifies their identity:
- Tokens transfer to their wallet automatically
Expiration and Reclaim
| Timeframe | Who Can Act | Action |
|---|---|---|
| After 325 days | Sender | Able to cancel the deposit and reclaim funds |
| After 365 days | Drop | Able to recover unclaimed escrow funds |
| After 365 days of inactivity | Drop | Able to reclaim an inactive username |
| Days 325–365 | Both | Sender can cancel; Drop can recover if unclaimed |
INFO
Only applies to smart contract escrow vault. Claimed funds of Drop users are self-custodial, secured by passkeys and cannot be taken or lost in any form.
Identity Verification
Recipients must verify they own the handle, phone number, or email you sent to:
- Social handles: Connect their X, Telegram, or Discord account
- Phone: Verify via SMS code
- Email: Verify via email link
Only the verified owner can claim the tokens. Identifiers are hashed on-chain so only the true owner can prove ownership.
Security
- On-chain custody: Smart contracts hold the funds, not Drop
- Identity-bound: Only the verified recipient can claim
- Privacy: Recipient identifiers are hashed
- Audited: Contracts are professionally audited
- Non-custodial: Drop cannot access or move deposited funds
- Verified tokens only: Only verified tokens can be deposited (prevents malicious token attacks)
Fees
All Deposit Vault transactions are fee-sponsored by Drop:
- Deposits: Network fees are covered by Drop
- Claims: Network fees are covered by Drop
- Reclaims: Network fees are covered by Drop
- No platform fee: There is no additional platform fee
ERC-20 Token Approval
On Base, depositing ERC-20 tokens requires an approval transaction first. This is a standard EVM requirement. The approval transaction fee is also sponsored.
Token Restrictions
Only verified tokens can be deposited to the vault:
- Solana: Jupiter verified tokens
- Base: ChangeNow verified tokens
This prevents malicious token attacks (fee-on-transfer, rebasing tokens, etc.).
Use Cases
| Feature | Description |
|---|---|
| Send | Send to handles, phone, or email |
| Giveaway | Distribute to many recipients |
| Tip Jar | Accept tips from anyone |
| Payment Request | Receive from non-users |