Redeem atBTC Process Flow

The process flow of redeeming BTC works as follows:

Step 1: Burn atBTC

The atBTC user initiates the process by burning their atBTC tokens through the Atlas contract on EVM.

Step 2: Event Log Retrieval

The EVM Event Relayer retrieves new event logs from the burning transaction.

Step 3: Forward to Atlas

The unverified transactions are sent to the Atlas Smart Contract for processing.

Step 4: Validator Verification

Validators pick up the records to verify against the EVM atBTC contract, ensuring the burn transaction is valid and confirmed.

Step 5: Update Records

The Redeem BTC record validator count is updated on the Atlas Contract.

Step 6: Record Check

Atlas Contract checks for confirmed and verified Redeem BTC records.

Step 7: Payload Creation

CreateSendBTCSignedTxnsr0Formulate Payload for confirmed atBTC burned.

Step 8: NEAR MPC Integration

Send payload to NEAR MPC for transaction signing.

Step 9: Return Flow

Send signed payload back to server for processing.

Step 10: Final BTC Transfer

The Transaction Relayer sends the native BTC to the user's specified Bitcoin address.