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Enforcing Minimums on the /convert_withdraw Endpoint

September 12th, 2022

API Updates

We are introducing minimum order quantities on our GET /convert_withdraw/rfq endpoint. The quote will be rejected if the minimum quantity is not met. For requests where the total notional* is specified, the resulting quantity must be above the Zero Hash defined withdrawal minimum threshold. The /convert_withdraw/rfq endpoint will observe the following minimums:

Assets and Minimums

  • BTC, BCH, LTC

    • Minimum: 0.00000547 or network fee quantity
    • Asset quantity must be greater than the network fee quantity

  • Non-UTXO assets (i.e. ETH, MATIC, USDC)

    • Precision Minimum: N/A

  • Solana (SOL)

    • Minimum: 0.00089088
    • Transfers must be greater than the rent-exempt minimum of 0.00089088 SOL

Resulting Quantity Explanation:

There are 2 scenarios:

  1. The platform specifies a total on the GET /convert_withdraw/rfq endpoint. For example, "give me $1 worth of BTC". We will take in that dollar amount, convert it to the asset quantity, i.e., 0.00032162 BTC, and decide if that is above or below the minimums.
  2. The platform specifies a quantity on the GET /convert/withdraw/rfq endpoint. For example, "give me 0.00032162 worth of BTC". There is no need to transpose anything, and we will take that quantity, compare it to our minimums, and act accordingly.

For the /convert_withdraw endpoint, Zero Hash enforces a minimum quantity that is greater than the network fee quantity. This ensures the transfer will not be rejected by the blockchain since there are additional factors that determine UTXO minimums which are calculated based on the number of inputs, outputs, and the type of address.

Solana (SOL) Note:
SOL wallets require a "rent-exempt minimum" of 0.00089088 SOL. Transactions to wallets with a balance below this amount will be pending on the network until the wallet has an amount greater than this deposited. However, there is not a withdrawal minimum. Zero Hash enforces this restriction as a withdrawal minimum by assuming destination wallets do not have balances to avoid this indefinite pending state. More info on the rent exemption can be found here.

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