> For the complete documentation index, see [llms.txt](https://valuex.gitbook.io/valuex-whitepaper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://valuex.gitbook.io/valuex-whitepaper/value-x-whitepaper/8.-aetherflow.md). # 8. AetherFlow (Wallet, Payment and Asset Management App) AetherFlow is designed to handle wallet creation and signing inside the app and to integrate carbon reduction record management with payment functions.
### 8.1 Email-Based Wallet and Key Management AetherFlow Wallet ("AetherFlow") is a digital asset wallet developed and operated by VLX Etherflow Technologies INC (registration number 155790232), an entity established under the laws of the Republic of Panama. AetherFlow provides storage, transfer, payment and asset management functions for VLX. The specific features supported and the regions where it is available may vary depending on applicable laws and regulations and the policies of partner businesses. AetherFlow Wallet is designed so that users do not have to store a seed phrase themselves. A wallet is created inside the app with email verification alone, and there is no need to install a wallet extension or a separate wallet app. Assets belong to a blockchain address, and moving them requires a valid signature from that address. Logging in to the app and approving a transaction are therefore separate steps. Key management uses embedded wallet technology from an external wallet infrastructure provider. This technology offers two methods: one splits the key into shares so that several participants produce a signature together, and the other encrypts the key and uses it only inside an isolated secure execution environment. (The method to be applied in AetherFlow Wallet's production environment and its configuration will be disclosed once finalized, and the recovery options and backup policy will be disclosed in the app and on official channels once finalized.) Transaction fees on Value X Chain are paid in VLX from the user's wallet. Gas sponsorship, in which the app pays gas fees on the user's behalf, and account abstraction, which presupposes smart contract accounts, are not part of the structure currently in place. ### 8.2 Asset Portfolio Dashboard A single screen shows asset balances across 7 networks: Value X Chain plus 6 external networks (Ethereum, Avalanche, Arbitrum, Base, Polygon and BNB Chain). Balances can also be viewed network by network or combined. Different tokens that share the same symbol are told apart by network and contract address and shown separately. Beyond this, the Carbon Point balance (not included in the first release) will be added when point accrual opens in Phase 2. The available card balance and the amounts burned and sponsored as a result of the user's own activity (impact summary) will be added as each of those features opens (see Sections 8.3 and 10.5). ### 8.3 VLX Card Payment Integration VLX Card is an offline payment method designed to deduct the payment amount from the available balance in the app. The card program and issuer (provider), the regions where it is offered and eligibility requirements, the product type, fees and the method of protecting balances will be finalized after a provider is selected, and will be communicated separately on the card application screen and in the Terms of Use. The card issuing and payment APIs have not yet been integrated, and no dedicated contract has been deployed, so card payments are not yet available. VLX Card payments are not included in the first release and will launch after a partner has been selected and integrated. The launch date will be disclosed separately. Merchant payments are designed to be processed as follows. The actual steps may vary with the structure of the card program selected, and the confirmed details will be disclosed before the service launches. 1. The payment request passes the card partner's authorization process. 2. The amount is deducted from the available balance in the app. 3. If a structure that handles top-ups, deposits and settlement on-chain is adopted, the settlement record is kept on Value X Chain. Whether on-chain settlement is adopted depends on the final structure of the card program. 4. The share of payment fees that accrues to the protocol in VLX follows the distribution rules in Sections 10.4 and 10.5. ![Figure 8. VLX Card payment processing flow (design draft) and fee attribution](https://4111024654-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fw7YoFCbsDz1NbkOTHoHH%2Fuploads%2Fk97JGQLllYVZ5EVYK4vW%2FChatGPT%20%EC%9D%B4%EB%AF%B8%EC%A7%80%202026%EB%85%84%209%EC%9B%94%2028%EC%9D%BC%20%EC%98%A4%ED%9B%84%2003_32_50-2.png?alt=media\&token=b62b4dbe-fef8-4a65-b08d-1ea4d7160ce8) ### 8.4 In-App Swap and Bridge Swaps and bridges are executed in the app, with no redirect to an external site. There are two exchange routes, and the source of liquidity and the counterparty differ by route. External network integration route. Exchanges and transfers between external networks use the quotes and execution process of an external integration provider. When an amount is entered, a quote is fetched automatically and the expected amount to be received is shown in advance. If the input conditions change, the previous request is canceled and only the result for the latest conditions is applied. Quotes are valid for a limited time, so they are refreshed before they expire, and their validity is checked again immediately before execution. Directly operated route. Exchanges between Value X Chain and external chains are paid out from inventory that the operating entity (see Section 8.6) has deposited in advance. This route is implemented to support exchanges between a native asset and an ERC-20, or between two ERC-20s. The exchange is executed after the contract checks a quote in which the chain, pool, user, recipient, asset, amount and expiry are bundled together and signed. Expired quotes and quotes that have already been used are rejected. The processing steps for the bridge route are set out in Section 4.4. Notice on swaps and liquidity. On the directly operated route, the operating entity supplies the inventory used for exchanges and determines the source of the reference price. This route is not the typical decentralized exchange model in which prices form automatically from the ratio of deposited assets. On this route, the user's counterparty is the operating entity that supplied the inventory. Accordingly, since the operating entity manages the inventory and the reference price, the quantity available for payout and the price applied may differ from prices in external markets. By contrast, liquidity on the external network integration route is third-party liquidity connected by an external provider, and neither the operating entity nor its related parties are counterparties on that route. Current status. Contract deployment and service connection for the directly operated route are complete. Trading has not yet been opened, because the creation of trading pools, the supply of liquidity in both directions, the configuration of per-route limits and finality conditions, and round-trip verification with real funds are still outstanding (the opening date will be disclosed on official channels). The VLX ecosystem may be integrated with third-party platforms that are operated independently under separate agreements, and responsibility for the services of those platforms lies with their respective operators (see Section 14.10). ### 8.5 Activity-Based Referrals The VLX referral program pays no reward for a sign-up alone. A reward is paid when a valid transaction takes place. * A reward is calculated only when the referred user makes a valid transaction, such as a payment or a swap. * Rewards are settled in installments, in step with the referred user's continued activity. * The account cluster detection described in Section 7.4 also applies to referrals. * Rewards are funded from fee allocations, and the Ecosystem & Carbon Rewards distribution pool is distributed after a 12-month deferral from TGE (see Sections 10.2, 10.5 and 10.7). ### 8.6 Regulatory Compliance and License Separation ![](https://4111024654-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fw7YoFCbsDz1NbkOTHoHH%2Fuploads%2F724I8x34rMXFki3g4NrI%2FChatGPT%20%EC%9D%B4%EB%AF%B8%EC%A7%80%202026%EB%85%84%209%EC%9B%94%2028%EC%9D%BC%20%EC%98%A4%ED%9B%84%2003_32_52-4.png?alt=media\&token=8d689645-9b10-4981-ad4a-e59209dfc519) About the partners in the table. The table above shows the principle of separating roles and responsibilities by function. The partners that will handle card issuing and brand licensing, merchant acquiring and fiat settlement, and Know Your Customer (KYC) and anti-money laundering (AML) checks have not yet been selected, and the table does not mean that a contract has been signed with any particular card network or issuer. Once the partners are confirmed, they will be disclosed together with the scope of their responsibilities. The division of work among partners shown above concerns the card payment function, and the KYC procedures that the Distributor carries out at the VLX distribution stage follow Section 14.6. VLX does not hold fiat currency in custody and performs software functions only. Because the applicable rules may differ by jurisdiction and function, the operating entity decides how services are provided based on legal advice, and the features available may change with the regulatory environment. In addition, AetherFlow is a non-custodial wallet, and users manage their own private keys and recovery phrases. The operator does not store users' private keys or recovery phrases and cannot recover them itself if they are lost. ***