💸Transactions
Detailed technical FAQs relating to Fiorin transactions
Last updated
Detailed technical FAQs relating to Fiorin transactions
Last updated
The minimum deposit (receive) of ERC20 USDC, USDT or DAI via the Ethereum bridge is $25.
Make sure you are aware of gas fees:
The minimum deposit (receive) of USDC, USDT or DAI using STAS on BSV is $0.01.
There are no maximum deposits.
The minimum withdrawal (send) of ERC20 USDC, USDT or DAI via the Ethereum bridge is $0.01.
Make sure you are aware of gas fees:
The minimum withdrawal (send) of USDC, USDT or DAI using STAS on BSV is $0.01.
Your maximum ERC20 deposit (receive)
$100,000
First transaction creates a P2PKH output (output #0) containing 60,989 satoshis (0.00060989 BSV) that is locked to this address (the USDXS token issuance address)
Second transaction spends output #0 in (1) and the same number of satoshis are locked as output #0 with a STAS locking script (this is the issuance STAS scripthash)
Third transaction spends output #0 in (2) and the same number of satoshis are locked as output #0 with a STAS locking script (this is the user's STAS scripthash)
This amount is displayed by the users wallet:
Consider the actual STAS redemption of 100 USDXS tokens ($100):
First transaction (initiated and signed by the user's Fiorin wallet) creates an output containing 10,000 satoshis (0.0001 BSV) that is locked to the redemption STAS scripthash
The maximum withdrawal (send) of ERC20 USDC, USDT or DAI via the Ethereum bridge is the lower of either:
The maximum withdrawal (send) of USDC, USDT or DAI using STAS on BSV is $0.01.
Consider the actual STAS issuance of 609.89 USDXS tokens ($609.89). This occurs as three BSV transactions:
Sending USDT, USDC or DAI from Fiorin to your external ERC20 withdrawal address occurs as two distinct processes, STAS token redemption and ERC20 token redemption.
Redemption occurs as two BSV transactions:
Once the transaction in (1) has one BSV block confirmation, the second transaction takes the output created in (1) and spends it to this address (the USDXS token redemption address)
The above actions trigger the Ethereum smart contract withdrawal of 75.72 USDT (100 USDT minus 24.28 USDT in gas fees) to the user's specified ERC20 address:
The gas fees paid of 24.28 USDT are doubled and reimbursed to the user's Bounty account on DXS as a credit of $48.56!
Withdrawal across Fiorin's bridge consumes approximately 2x the gas of a regular ERC20 token transfer on Ethereum
