TelePay is a payments gateway, it works like a wallet, but it is not 100% a wallet, but more: our main work is to handle incoming payments, on which we charge 0 fees. We even manage internal transfers of tokens of any kind, without charging fees too.
Since our launch, we've been following closely the blockchain fees associated with every withdrawal performed on the platform. For the Hive and HBD tokens (recently listed), the blockchain transfers cost us zero in the concept of blockchain fees. But, the TON blockchain charges fees to our liquidity pool when we need to send money from our platform, back to your personal wallet in the blockchain (a.k.a. withdrawal).
TON withdrawals with an
amount > 0.2, costs us fees that we can cover with the processing fee. If we allow less than 0.2 TON for withdrawals, the
processing fee (our fee) would not cover the
blockchain fee, resulting on us losing money.
One of our core principles is transparency. As you can see, our wallets are public, like the TON wallet and Hive wallet. If you check on the first withdrawals from our TON wallet, you can see that many of them have a blockchain fee higher than the amount being transferred. Let's see some examples:
That's a negative balance of -0,003290279 TON. In just a few words: TelePay losing money. Here you can see a screenshot of our admin panel, where we list some of those withdrawals producing losses for us.
If you're a developer, you need to implement this logic on your app. For that, we released this new endpoint for you to consult the API, fetching the minimum amount for a given asset. The endpoint is called
getWithdrawMinimum, and you can read the documentation here.
Possible use case: If you have users in your apps to which you need to send payouts, there could be a minimum withdrawal amount. Or, you have the option to transfer the funds internally to their TelePay account, which is free.
This article is brought to you by TelePay, a cryptocurrencies payments gateway, to help you handle payments in your business, in an easy, fast, and secure way. Sign up, add your merchants and get your personal guarded wallet with us.
Join our other channels to stay updated with the latest news:
Telegram EN 🇺🇸: https://t.me/TelePayCash
Telegram ES 🇪🇸: https://t.me/TelePayCash_es
Telegram RU 🇷🇺: https://t.me/TelePayCash_ru