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Convert Withdraw Network Fee Inclusivity

September 20th, 2023

Release date

  • Sep 21, 2023

Release Type

  • Information - Optional action from platforms.

Summary

General

Platforms using the Convert Withdraw product can now specify whether or not the network fee notional amount is included in the total notional amount or excluded. Examples:

  • Fee inclusive: A platform requests a quote by notional for an amount of 100 USD and the breakdown is (assuming a $2 network fee):
    • asset_cost_notional: $98
    • network_fee_notional: $2
    • total_notional: $100
  • Fee exclusive: A platform requests a quote by notional for an amount of 100 USD and the breakdown is (assuming a $2 network fee):
    • asset_cost_notional: $100
    • network_fee_notional: $2
    • total_notional: $102

Action required

There is a new optional Boolean query parameter called fee_inclusive that Platforms can use on the GET /convert_withdraw/rfq endpoint. A value of true means that the network fee is inclusive. A value of false or omitting this query parameter implies a fee exclusive-type call.

Endpoints impacted

  • GET /convert_withdraw/rfq