Storage Providers

Storage providers play a vital role in the seamless custody of valuable assets. These entities, often established mid and large-sized companies, possess extensive knowledge and expertise in the intricate workings of storage operations. To uniquely identify each storage provider, Roji assigns a distinctive storage provider ID. This ID serves as a reference point for linking each ROJIAB721Multi contract to one or more storage providers.

It's important to note that storage providers may or may not be the same entities as sellers. While some providers may offer both storage and selling services, others may specialize solely in the safekeeping of assets. Regardless of their exact nature, storage providers are the linchpin when it comes to redeeming specific assets.

When a user requests the redemption of a particular asset, be it through the Roji website or a widget embedded on a third-party site, the necessary information is collected and relayed to the storage provider. To ensure a prompt response, the storage provider is promptly notified of the availability of the asset for redemption. This notification can take the form of an email or a Webhook, depending on the configuration.

As an implementer, it is crucial to prioritize fast and accurate redemption processes. Timeliness in handling redemptions is paramount to foster customer trust and satisfaction. By ensuring that all redemptions are dealt with promptly and efficiently, you can contribute to a positive user experience and maintain a high level of customer confidence.

Finalizing Redemption

After the redemption process is finalized by the Storage Provider (meaning the asset has been securely transferred from their custody), it is imperative for the provider to invoke the finalizeRedemption function on the corresponding contract used for the asset. This function requires the tokenId of the asset as a parameter. By executing this function, a series of crucial security checks are carried out internally, ensuring the integrity of the process. Once these checks are successfully completed, the NFT is permanently removed from circulation - it is 'burned'.