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New Netted Withdrawal Endpoints

December 16th, 2022

Release Date

Friday, December 16, 2022

Release Type

Actionable – Updates required for platforms that have enabled withdrawals and want to use the new feature.

Summary

Zero Hash now supports additional configurations related to handling network fees for withdrawals. The new model allows platforms to generate a network fee quote and execute it upon approval from the end user. Network fees are quoted and debited based on the requested withdrawal asset, making it easier for end users to understand charges. Network fees are also netted from the requested withdrawal amount, ensuring that end users do not owe more than they request to withdraw.

How It Works

  • Platforms need to be configured by Zero Hash for the service.
  • Platforms generate a withdrawal quote using GET /withdrawals/locked_network_fee, which returns details about the withdrawal and a withdrawal_quote_id.
  • Withdrawal_quote_ids are valid for 30 seconds.
  • After the Participant accepts the quote, the Platform executes the quote by passing the withdrawal_quote_id using POST /withdrawals/execute.
  • Zero Hash performs ledgering actions, including generating a pending withdrawal and creating a confirmed withdrawal message.

Action Required

Platforms interested in using the feature need to reach out to Zero Hash Customer Service team or Platform Solutions team for additional configurations. This will impact how Platforms execute withdrawals and will require using the aforementioned endpoints to facilitate all withdrawals.

Endpoints Impacted

NEW - GET /withdrawals/locked_network_fee

Accepted Parameters:

  • "participant_code" (Required)
  • "account_group" (Optional)
  • “account_label" (Optional)
  • "amount" (Required)
  • "max_amount" (Optional)
  • "asset" (Required)
  • "withdrawal_account_id" (Required if withdrawal_address is not provided)
  • "withdrawal_address" (Required if withdrawal_account_id is not provided)
  • "destination_tag" (Required for tag-based assets)

Example Request

GET /withdrawals/locked_network_fee?participant_code=CUST01&account_group=PLAT01&account_label=general&amount=0.02&asset=BTC&withdrawal_address=mohjSavDdQYHRYXcS3uS6ttaHP8amyvX78

Example Response

{
 'account_group': 'PLAT01',
 ‘request_id’: 'ac3se065c-a35d-xc3f-s802-2cefaabed6123’',
 'account_label': 'general',
 'amount': '0.02',
 'amount_notional': '339.39',
 'asset': 'BTC',
 'destination_tag': '',
 'max_amount': False,
 'net_withdrawal_notional': '339.34',
 'net_withdrawal_quantity': '0.01999718',
 'network_fee': '0.00000282',
 'network_fee_notional': '0.05',
 'participant_code': 'CUST01',
 'withdrawal_account_id': '',
 'withdrawal_address': 'mohjSavDdQYHRYXcS3uS6ttaHP8amyvX78',
 'withdrawal_quote_id': '53b9065c-185d-4c9f-ba90-2cefaabed6e1'
}