Issuer: Transfer Fees
Issuer: Transfer Fees

Issuer: Transfer Fees

Issuer: Transfer Fees

Intro

A sender should send a little more to cover the transfer fee set by the issuer.

Video

Topics covered

  • XRP To XRP transfers can never have a transfer fee, as it’s not issued by any issuer.
  • Range of transfer fee.
  • Implementing transfer fee.
  • Transfers of tokens to and from the issuer will not have a transfer fee.
  • Making payment transaction with SendMax to cover the transfer fee.
  • Changing the transfer rate.

Update

if (issuerDetail.account_data.TransferRate) {
    const Billion = 1000000000;
    const percentage = ((issuerDetail.account_data.TransferRate - Billion) / Billion) * 100;

    payload.SendMax = {
          currency: asset,
          value: String(Number(process.argv[5]) + (Number(process.argv[5]) * percentage) / 100),
          issuer: issuer,
    };
}

References

💡
Final tip: For a better UX, your client application must let the user know that they will be charged a percentage of fee by the issuer of the token for the transaction. Only execute the transaction if user agrees for it.
💠
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