Set a transaction policy

What are transaction policies?

Transaction policies are rules that you set that dictate exactly how, when, and where your funds move. For example, you can set the following:

• Address whitelists: specify addresses that may receive transactions from each Waymont Vault.

• Daily limits/transaction limits: set maximum limits for daily transactions or types of transfers, etc.

• IP address restrictions: permit transactions only if initiated from certain IP addresses.

• Time of day restrictions: limit the times of day during which transactions can be made.

• And much more, limited only by your imagination.

Transaction policies have a preset time-lock to change, and any new transaction policy or security update must be approved via your biometrics.

How to set policies

To set a transaction policy, enter into a vault’s setting page and set limits like whitelists, daily limits, IP-address restrictions, etc.

By default, each vault is enabled with address whitelists and daily limits. You can easily add custom policies by contacting concierge.

Address whitelists

Select which addresses your Waymont Vault can interact with. The Waymont Policy Guardian will reject anything outside of the addresses specified.

Daily limits

Set a US-dollar denominated amount for how much your Vault may transact in a 24 hour period. This token amount is calculated by fetching the pricing pricing data from the Zerion API. Currently, daily limits do not account for DeFi positions.

Once the daily limit is reached, the Waymont Policy Guardian rejects all additional transactions.

Making any update to your transaction policies requires biometric approval in addition to a 48-hour waiting period to take effect.

Custom policies

Waymont Concierge is also readily available to help you add other policies like (ie. IP address restrictions) to meet your needs.

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How do token approvals count towards transaction policy limits?

Token approvals count towards your transaction limits in the following way:

Let’s say you have set a daily limit of 50 USD.

• If you have approved 10 USDC for spender A and 15 USDC for spender B

• Then, you have spent 25 USD of your limit, i.e. you have 25 USD spending limit remaining.

• The remaining daily limit will always be 25 USD until the spender has spent the initial allowance.

Are daily limits enforced on DeFi positions?

Currently, daily limits only works for native and ERC-20 tokens, ie. an Uniswap-V3 LP position is an ERC-721 token, transferring / withdrawing the LP does not count towards your daily limits. However, you may still enforce transaction policies like: whitelists, IP address restrictions, and more on DeFi positions.