1.2 About the SyFu Wallet
Note: This page is a usage guide. For important matters (reviews, restrictions, collateral, penalties, etc.), please refer to the Terms of Service. If there is any discrepancy, the Terms of Service will take precedence.
Overview
The SyFu Wallet uses MPC (Multi-Party Computation) technology, so users do not need to manually manage private keys in the traditional way.
In the SyFu app, user wallets are operated as two separate wallets:
SyFu Wallet (Standard Wallet)
Spending Wallet (Spending Wallet)
Both are non-custodial and are operated based on user authentication (multiple factors, including passkeys).
How the MPC Wallet Works (Simple Explanation)
With the SyFu Wallet, key material is distributed and managed. You can use the wallet by passing two or more authentication factors.
Authentication Methods (Examples)
Email verification (your SyFu account email)
Phone number verification or an authenticator app
Passkey authentication (Face ID / fingerprint, etc.)
Wallet Structure and Roles
A pair of wallets is issued per user, consisting of the following two types:
SyFu Wallet (Standard Wallet)
The base wallet for external transfers and custody
Holding NFTs/tokens, sending/receiving to external wallets
Spending Wallet (Spending Wallet)
The wallet used inside SyFu services
In-app usage/spending, marketplace purchases, etc.
The Spending Wallet Is “Where You Use SyFu”
The Spending Wallet is designed to make in-service usage (including games and the marketplace) smooth.
Most in-service actions (usage/spending, marketplace purchases, etc.) are executed from the Spending Wallet
Therefore, when using SyFu services, the intended flow is SyFu Wallet (Standard) → Spending before use
Basic Flow (Important)
Use inside the app
SyFu Wallet (Standard) → Spending → Use
Move back to SyFu Wallet (Withdrawal)
Spending → SyFu Wallet (Standard)
Note: “Moving between Standard ⇄ Spending” and “Sending to an external wallet” are different actions. To send to an external wallet, perform a normal transfer from the SyFu Wallet (Standard).
EVT Balance Display (Two-Layer: On-chain / Credits)
In the Spending Wallet, EVT is shown as a combined total (the breakdown is always displayed).
EVT (On-chain): EVT that exists on the blockchain (on-chain balance).
EVT Credits (In-app): EVT credits shown as already granted/reflected in the app. After you submit a withdrawal request, they will be paid out as on-chain EVT.
Priority Order: Usage vs. Withdrawal
Usage (spending inside SyFu services): EVT Credits (In-app) are used first.
Withdrawal (Withdraw EVT): Your request is made using both On-chain / Credits, and as a rule, On-chain is applied first.
About EVT Withdrawal (Withdraw EVT)
Withdraw EVT means moving EVT from the Spending Wallet to the SyFu Wallet (Standard).
For withdrawal rules (fee / minimum amount / waiting time), please refer to: https://docs.syfu.io/quick-start/syfu-wallet/fees
Scope of Withdrawal Rules (Important)
Withdrawal rules for fees / minimum withdrawal amount / waiting time (Trust Rank) apply equally to both:
EVT (On-chain)
EVT Credits (In-app)
Important
EVT withdrawals from the Spending Wallet may be placed under review / on hold for anti-fraud and security reasons.
EVT Credits (In-app) may be adjusted or canceled (balance/payout) due to reviews, etc. (see Terms of Service for details).
Risks and Notes
If you lose your authentication methods (email/SMS/passkey, etc.), you may be unable to restore or operate your wallet.
Transfers may not be reversible if you enter the wrong destination address (always double-check before confirming).
Beware of phishing links and fake support. We will never ask for your private key or seed phrase.
About KYC (Identity Verification)
KYC is not required for normal usage, but we may request identity verification in the following cases:
SyFu Card-related usage
KYC may be legally required for card issuance and/or usage
Fraud / risk detection
Withdrawals or NFT transfers may be restricted and unlocked after verification
Summary
The SyFu app provides two wallets: SyFu Wallet (Standard) and Spending Wallet
For in-service usage: Standard → Spending → Use
In Spending, EVT is displayed as a combined total with a constant breakdown (On-chain / Credits)
EVT withdrawal is moving EVT Spending → Standard
Withdrawal rules apply equally to On-chain / Credits
Both wallets are non-custodial
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