I have been hiring people in this space for a number of years and I have never seen this level of professionalism. It really feels like you are working with a team that can get the job done.
A transfer fee is an optional percentage charge token issuers set on their issued tokens. When users transfer these tokens between non-issuer accounts, the sender is debited an extra percentage and the difference is burned.
The maximum transfer fee is 100% (TransferRate of 2000000000), reduced from approximately 329% by the fix1201 amendment in November 2017. The minimum is 0%.
Transfer fees do not apply when sending tokens directly to or from the issuing account. They only activate when tokens move between two non-issuer accounts.
NFT transfer fees on XRPL work differently from fungible token transfer fees. For standard tokens the fee is burned, while NFT fees may be configured as royalties.
XRPL token issuers configure transfer fees via the TransferRate field in an AccountSet transaction. If ACME Bank issues EUR stablecoins with a 1% transfer fee, a sender wanting the recipient to receive 2 EUR.ACME must send 2.02 EUR.ACME. The extra 0.02 is burned.
Transfer fees are separate from the base XRP network transaction cost. Every transaction pays the 10-drop minimum fee regardless of transfer fee configuration. Transfer fees apply on top of this for token movements between non-issuer accounts.
I have been hiring people in this space for a number of years and I have never seen this level of professionalism. It really feels like you are working with a team that can get the job done.
I have been hiring people in this space for a number of years and I have never seen this level of professionalism. It really feels like you are working with a team that can get the job done.
