Redeem Status Diagram
When getting a transaction, it's status will be in one of these states:
Queued: processing has not begun. transactions usually don't stay in this state for long in production.
Pending: transaction is still processing. it hasn't failed any critical steps yet.
Failed: transaction is in a final failure state. there are no steps to roll back.
Success: transaction has completed all steps successfully.
Rollback: transaction has encountered a failure in one of its steps and must roll back changes.
Review: a transaction requires manual intervention. often this indicates failure, but occasionally this can happen for a transaction that will be successful.
The flow of statuses during a redemption:
1. SILA tokens are ready to be converted back into USD through the process of initiating an ACH credit transaction to a linked bank account. The ACH process has yet to begin.
2. While the token burn is pending, it has not failed any critical steps, and the process is still in progress. SILA tokens will either be successfully burned and USD will soon be credited back into a linked bank account, or the tokens will fail to burn, resulting in a failed redemption.
3. The transaction to credit back the USD is pending. It has not failed any critical steps and the process is still in progress.
4. The USD credit return can either be successful through standard or same-day ACH processing, or it could fail. If the credit is successful, USD is credited back to the linked bank account. If the credit failed, USD fails to be sent back to the linked bank account and a rollback of the changes is then initiated. If the rollback is a success, the digital wallet will receive the SILA tokens that were originally intended to be redeemed. If the rollback fails, a manual review will begin. Once reviewed, there are two possible outcomes: the rollback will be deemed successful, resulting in the SILA tokens being sent back to the handle's blockchain address, or the USD credit return will be successful.
5. If for some reason the transaction must be returned, all changes will be rolled back. This rollback will either be successful, returning the SILA tokens back into the digital wallet, or it will fail and be manually reviewed. Once reviewed, there are two possible outcomes: the rollback will be deemed successful, resulting in the SILA tokens being sent back to the handle's blockchain address, or the USD credit return will be successful.
Updated over 2 years ago