Minimum deposits and API improvements

In April 2022, we introduced a minimum amount for withdrawals and explained that it was necessary in order to prevent loss of liquidity when processing withdrawals.

Today we are introducing minimum deposit amounts for some assets to shorten blockchain fees on incoming/outgoing transactions.

As for preventing losses to the platform, we have established this configuration for Toncoin:

• Minimum deposit: 0.5 TON.
• Minimum withdrawal: 0.5 TON.
• Withdrawal processing fee: 2.8%.

By doing this, we can cover the blockchain fee and save some revenue for TelePay. Our simulations threw these results, which are the best numbers we can offer now to the TON blockchain users.

Deposits for HIVE and HBD have no minimum amount. That's an advantage of Hive blockchain vs. TON blockchain, they don't have fees. But, we do charge a small fee on Hive/HBD withdrawals, that's your payment for our service. 🙂

⚙️ API changes

New documentation

The API is now accessible with Swagger and Redoc, following the OpenAPI specification. Now it's easier for devs to integrate it.

Improved: Endpoint POST /createInvoice [REFERENCE]

Specifying the type of payment that you'd like to receive is now possible. You can choose between on-chain, off-chain transactions, or bot.

• added input field on_chain_allowed, default true
• added input field off_chain_allowed, default true

Improved: Endpoint GET /getAsset [REFERENCE]

Now the endpoint serves more data related to each asset. These fields are added

• coingecko_id (string) The asset ID on CoinGecko, which we use as a provider to cache the price against USD. Just in case you need it.
• deposit_minimum (decimal) The minimum required amount for on-chain deposits.
• deposit_enabled (boolean) Deposits to this asset are enabled or not.
• withdrawal_minimum (decimal) The minimum required amount for on-chain withdrawals.
• withdrawal_enabled (boolean) Withdrawals from this asset are enabled or not.
• withdrawal_fee_percentage (decimal) The withdrawal (percentage) fee associated with this asset.
• withdrawal_fee_fixed (decimal) The withdrawal (fixed) fee associated with this asset.

Example request:

{
  "asset": "TON",
  "blockchain": "TON",
  "network": "mainnet"
}

Example response:

{
  "asset": "TON",
  "blockchain": "TON",
  "usd_price": "1.719999999999999973",
  "url": "https://ton.org",
  "networks": [
    "mainnet",
    "testnet"
  ],
  "coingecko_id": "the-open-network",
  "deposit_minimum": "0.500000000000000000",
  "deposit_enabled": true,
  "withdrawal_minimum": "0.500000000000000000",
  "withdrawal_enabled": true,
  "withdrawal_fee_percentage": "0.02800",
  "withdrawal_fee_fixed": "0.000000000000000000"
}

Deprecated: Endpoint GET /getWithdrawalMinimum [REFERENCE]

It will be kept functional, for compatibility purposes with the older versions, but we encourage you to use the GET /getAsset endpoint, where the withdrawal minimum (among other data) is served.

🧑‍💻 Devs, action from your side is required

We recommend updating your apps to ensure that:

• Your invoices comply with the minimum deposit amount for each asset, if defined.
• Check if deposits for an asset are enabled before creating new invoices.
• Handle the error=deposit.disabled error when creating an invoice.
• Handle the error=deposit.minimum error when creating an invoice.

That's it for now. Our team is a little bit quiet these days, but we are working hard to add more tokens and features. Stay tuned!