ERC-20 token thresholds raised

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Steve Sokolowski
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Location: State College, PA

ERC-20 token thresholds raised

Post by Steve Sokolowski » Wed Jan 06, 2021 9:22 pm

Recently, ETH fees have skyrocketed, so we've had to raise the minimum and free payout thresholds for most ERC-20 tokens. The new free thresholds range from $500 to $1,500. The minimum thresholds have been raised to between $25 and $50. One transaction for ERC-20 tokens is averaging now between $10-$15.

If gas costs decline, we'll reduce the thresholds as quickly as possible.
edmundtan
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Joined: Thu Dec 31, 2020 3:28 am

Re: ERC-20 token thresholds raised

Post by edmundtan » Thu Jan 07, 2021 12:15 am

why max threshold value for ETH is same as free threholds value?
edmundtan
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Re: ERC-20 token thresholds raised

Post by edmundtan » Thu Jan 07, 2021 12:31 am

bug?

Thresholds

Any amount below the free threshold incurs a fee
Min Threshold
0.03000000 ETH
$36.19
Free Threshold
0.16581441 ETH
$200.00
Max Threshold
0.16581441 ETH
$200.00
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Steve Sokolowski
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Location: State College, PA

Re: ERC-20 token thresholds raised

Post by Steve Sokolowski » Thu Jan 07, 2021 7:02 am

edmundtan wrote:
Thu Jan 07, 2021 12:15 am
why max threshold value for ETH is same as free threholds value?
The free threshold is so high that we can't accept liability for any more than we absolutely need to.

Our #1 security strategy, before everything else, is to make sure that we have as little money as possible for hackers to steal. In the past, allowing a higher max threshold wasn't much of a security risk, but now we are starting to have to keep large balances on hand. We made those two equal to try to keep down the amount of money we need to have in reserve.
edmundtan
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Re: ERC-20 token thresholds raised

Post by edmundtan » Thu Jan 07, 2021 7:08 am

please at least set the max 0.01 higher than free threshold.
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Steve Sokolowski
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Re: ERC-20 token thresholds raised

Post by Steve Sokolowski » Thu Jan 07, 2021 2:40 pm

edmundtan wrote:
Thu Jan 07, 2021 7:08 am
please at least set the max 0.01 higher than free threshold.
What's the specific reason for this suggestion? That's not much higher.
edmundtan
Posts: 5
Joined: Thu Dec 31, 2020 3:28 am

Re: ERC-20 token thresholds raised

Post by edmundtan » Thu Jan 07, 2021 10:52 pm

There is no free payout when free threshold = max threshold.


Thresholds

Any amount below the free threshold incurs a fee
Min Threshold
0.03000000 ETH
$34.34
Free Threshold
0.17473749 ETH
$200.00
Max Threshold
0.17473749 ETH
$200.00
Fee Estimate
0.00174720 ETH
$2.00
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Steve Sokolowski
Posts: 4174
Joined: Wed Aug 27, 2014 3:27 pm
Location: State College, PA

Re: ERC-20 token thresholds raised

Post by Steve Sokolowski » Fri Jan 08, 2021 7:14 am

edmundtan wrote:
Thu Jan 07, 2021 10:52 pm
There is no free payout when free threshold = max threshold.


Thresholds

Any amount below the free threshold incurs a fee
Min Threshold
0.03000000 ETH
$34.34
Free Threshold
0.17473749 ETH
$200.00
Max Threshold
0.17473749 ETH
$200.00
Fee Estimate
0.00174720 ETH
$2.00
I'll submit a ticket to Vance to investigate this issue and will post here when I know more.
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