What is the correct way to implement a system with one master account that contains sub-accounts associated with individual users? Is it correct to use a Memo for every transaction that then associates funds with a specific user ID (the sub-account)?
The Reddit XLM tip-bot is an example of this account structure. To deposit funds to the tip-bot, you send lumens to the tip-bot's public address with your username as the Memo of the transaction. After depositing, you can then send lumens to any other users within the Stellar subreddit.