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 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 on BSV is $0.01.
Your maximum ERC20 deposit (receive)
$100,000
This amount is displayed by the users wallet:
Consider the actual STAS redemption of 100 USDXS tokens ($100):
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 on BSV is $0.01.
Consider the actual STAS issuance of 609.89 USDXS tokens ($609.89). This occurs as three BSV transactions:
creates a P2PKH output (output #0) containing 60,989 satoshis (0.00060989 BSV) that is locked to (the USDXS token issuance address)
spends output #0 in (1) and the same number of satoshis are locked as output #0 with a STAS locking script (this is the )
spends output #0 in (2) and the same number of satoshis are locked as output #0 with a STAS locking script (this is the )
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.
Notice the +$48.56 credit! This is free money to use to trade on :
Redemption occurs as two BSV transactions:
(initiated and signed by the user's Fiorin wallet) creates an output containing 10,000 satoshis (0.0001 BSV) that is locked to the
Once the transaction in (1) has one BSV block confirmation, the takes the output created in (1) and spends it to (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 account on as a credit of $48.56!
Withdrawal across Fiorin's bridge consumes approximately 2x the gas of a regular ERC20 token transfer on Ethereum
