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 for new addresses an allocation fee has to be paid. This initial burn of an address costs 0.06425 XTZ.
We implemented it that way that if a user doesn’t have an allocated address, we will handle this specific tip/transaction off-chain, if the address is allocated already, the tip/transaction will be handled on-chain.
This is to prevent users to have to pay the allocation-fee when they are tipping a user which doesn’t have an allocated address. When you are depositing to CoinKit, your address automatically gets allocated.
Same goes for withdraws, if a user withdraws to an allocated address, the „fee“ is just the on-chain tx-fee. If the users withdraws to a non-allocated address, the network demands the transaction + allocation-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 allocated: 0.06425 XTZ
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