we are happy to announce the addition of Tezos ( XTZ ) to CoinKit. Tezos has been enabled for all integrated platforms:
For Tezos we have developed a special on-/off-chain solution. Tezos has a condition where new addresses need to get burned first, this initial burn of an address costs 0.257 XTZ.
We implemented it that way that if a user doesn’t have a burned address, we will handle this specific tip/transaction off-chain, if the address is burned already, the tip/transaction will be handled on-chain.
This is to prevent users to have to pay the burn-fee when they are tipping a user which doesn’t have a burned address. When you are depositing to CoinKit, your address automatically gets burned.
Same goes for withdraws, if a user withdraws to a burned address, the „fee“ is just the on-chain tx-fee. If the users withdraws to a non-burned address, the network demands the tx-fee + burn-fee.
Min Tip Amount: 0.01 XTZ
Monetized Min Amount: 0.01 XTZ
Gift Code Min Amount: 0.1 XTZ
Default Fee: 0.002 XTZ
Default Fee to non Burned: 0.257 XTZ
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