BSV stuck on FloatSV? Use OKBSV to Withdraw (& Deposit)

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OutputIntern

3 months ago by OutputIntern

Due to the attempted attacks on the BSV network, many exchanges have halted deposits and withdrawals. Some have started to come back online but others haven’t and these attacks may continue happening in the future.

When deposits and withdrawals were halted at OKEx, they were likewise halted on FloatSV too because FloatSV is a whitelabel partnership with OKEx.

In response to this, RelayX recently released a new trading pair called OKBSV which matches users who want to withdraw BSV from FloatSV with users who want to deposit BSV into FloatSV.

Note: this service should be possible for users of OKEx too but it seems internal transfers between OKEX and FloatSV are disabled too currently.

How to Withdraw BSV from FloatSV with 0/1 Confirmations

  1. Go to https://connect.relayx.com/ and login with your RelayX wallet.

  2. Select OKBSV. Toggle the direction so it is FloatSV => user@relayx.io

  1. Amount is the number of BSV you want to withdraw from FloatSV. 1 OKBSV should trade at 1 BSV.

  2. Enter the phone number that you use for FloatSV.

  3. Login to FloatSV, navigate to the withdrawal page and select Internal as your withdrawal method.

  1. Fill out the details like below. Key part is the instant@floatsv.com recipient address.

  1. Hit continue and navigate back to RelayX. It might take a few minutes for the withdrawal to complete. You’ll see this screen once it is completed:

  1. The last step is to list for sale your OKBSV on RelayX for actual BSV. RelayX will be market making so there should be enough liquidity for everyone who wishes to withdraw.

How to Deposit BSV into FloatSV

Deposits are a bit more of a manual process:

  1. On https://connect.relayx.com/, toggle the direction from user@relayx.io to FloatSV.

  2. Fill in the fields and then you will be directed to ‘Contact Us’ where you need to share the amount of OKBSV you wish to deposit.

  3. You’ll need to leave your email address amd wait for a reply from RelayX Support. They will send you instructions to send your OKBSV to a unique address.

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Notes:

RelayX have previously used the same OKBSV token when withdrawals were halted at OKEx in October 2020 for over a month. This allowed a natural market price to occur for BSV trapped on OKEx to happen as there were concerns the halting of withdrawals then was due to reasons related to law enforcement.