Polaris FAQ | Fees, MPC Wallet, Limits & Security

Answers about fees, escrow signer, MPC wallet, limits and security during the beta phase.

Who pays for withdrawal and settlement fees?

Polaris currently pays withdrawal and settlement fees, any abuse will result in your Polaris account being suspended.

Who is the "escrow" signer?

During the beta phase, the "escrow" signer is owned by Polaris. As we scale up, it will be outsourced to a third-party company specialized in such activity.

Can Polaris steal my funds?

For Polaris to steal, your funds would require the escrow signer to be complicit in committing the crime. On top of that, such malicious activity would be easily traceable on-chain and prove Polaris guilty.

What if Polaris' private key gets compromised?

Polaris uses state-of-the-art MPC Wallet technology to interact with your Multi-Signature Wallet. Private keys are never exposed directly. Transactions are monitored automatically at all times, and any fraudulent activity would immediately pause all withdrawals on the platform.

Which balances are used for withdrawal checks?

For withdrawal checks, Polaris uses your Withdraw Limit as shown on the app. This value considers your unrealized profit and loss (PnL), margin requirement, and or funds committed to open orders. If you don't have any open positions or orders, you can withdraw the entirety of your assets.

Which balances are used for settlements?

Your Polaris Cash Balance is used. This value represents your actual crypto assets without considering margin or unrealized PnL.

Ethereum fees are too high, can you support this L1, that L2, zk rollups, …?

Lowering fees is our top priority. In the meantime, you only pay a one-time fee to create the Multi-Sig and gas fees for each deposit. The rest is free.

Please contact us if the associated costs of trading on Polaris are too high, as understanding your use case helps us improve in the right direction.