would be good to also have trading fees be sponsored so people could buy in USD market for example and fee would be the same as in waves but taken in USD and they wouldnt need a waves balance to trade, smae with bitcoin, trade fees could be taken from bitcoin instead of always having to carry waves balance
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it’s on the list of my proposals as well (support of sponsored assets with Exchange type transactions), the only problem is that as cryptoasset prices are very volatile then paying fee in btc or eth might not be very convenient for the buyer or even for the issuer of sponsored asset. let’s say if asset has a pretty high price with high volatility then there won’t be much support for direct paying of exchange transactions if it’s not profitable for the issuer of sponsored fee with specific asset. But as soon as initiation and cancellation/rate change procedure could be describide in smart account, then I don’t see any problems here - basically smart contract on smart account could change required amount of fee in asset by the market prices (on dex or even many more exchanges at the same time).
So with release of full smart contracts and upgrade of sponsored fees such functionality could be embedded onto the platform.
2 Likes
Now that this feature will be activated within the next few hours. Is there any update regarding its mechanism & limitation? Is it possible for other wallet (non-issuer) to provide sponsored transaction for a specific asset?
Nvm, finally I found out on TestNET, only the asset issuer can support this.
Triplay token development team is waiting for this superb funcionality, to let our asset gain a new level of acceptance by our clients. Great idea!
it already is enabled
Great news. Thank you!.
When it will be availabe on mobile app wallet. I need this.
A little bit later. Not in the first release new Mobiles apps.
Hopely soonest. The issue is, we want to introduce to our community. And we focus on mobile app as a simple thing. And as we know, mostly people using smartphone.
But the problem, we must send them waves coin to simulate transaction. Such as tx arn rx each others.
If sponsor fee token active on mobile. So we dont need send them waves to their wallet.
Just keep waves to cover miner fee inside account token created.
And it will be more easy to use to get more common people involving and knowing waves platform.
Two thing is important to increase user.
For example:
I create a token
Than, i want to invite user in my community to introduce wave platform.
When i inteoduce waves platform the user is lazy. When we talk that you need waves in your mobile wallet to cover transaction fee.
Because in their mind. They dont want to much step, as they must register to exchanger to buy waves.
Therefore, if in mobile wallet available my token to cover transaction. It is more easy to us to grab user for using waves wallet dex.
I just activate sponsor fee feature in my token. Than easy to start my project introducing waves platform to people who dont know the waves platform.
Those above step is still a good benefit for waves project as will be more transaction increase.
Conclusion
-
Available token fee ( sponsor fee token ) in mob wallet. Atm only using wave 0.001
-
Available searchable token on mob dex add market ( without entering asset id ). Just make similar on pc version. As long as that token is not treat as spam.
Atm only verify token there. And in fact it was not so helpful to get more people to buy these token.
If those two feature above available on mob wallet.
I believe, we can see that download app increase exponential. As more people will use it.
More community come in…
More transaction daily happen
And more demand of waves
Finally the new user will buy waves
And more decentral
And of course all of us hv known
More demand more liquid and a good price of waves.
More holder…
Thanks
We are proudly to announce that sponsorship of transactions with Triplay token is active from today!
This facility is part of the development of our Triplay wallet … the next coming up launch from triplay.io
Thanks to Waves’ blockchain developers!
Hello,
I don’t understand all of this system. I create a token and i make it sponsored.
I paid one Wave for creating the token and one Wave for sponsoring?
Who pays the fee of 0.001 when one of my tokens is used as a gas?
Thanks
You get the token and pay fee (0.001 waves) to miner from your (issuer’s) account.
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Thanks for your simple but complete explanation
I don’t understand. Some day is gonna be possible to pay with sponsored fees to use the DEX? I’m looking for a solution to the problem that my user need to buy some waves to pay for the fees on the DEX to buy my token. How can I pay the fee of the DEX for the user?
1 Like
This’s a great idea.
Do you mean that user needs to exchange one custom asset for another one?
I think the idea is to pay the DEX fee with a sponsored token.
If I can say mine, the sponsored transaction should also be active in dex.
Surely the already active resource and maybe even activate in dex brings good health to the ecosystem.
Personally for my businness at the moment it is not profitable, then if a user chooses to enter the crypto world it is also partly his responsibility to inquire.
If instead we talk that we need even really lazy users to increase the user in the ecosystem, at the moment know that these users really lazy when they learn the use of the dex could be the ruin.
What am I saying? A lazy veramete user could also bring a token to devalue a lot for an immediate profit.
My thought is that we need to invest in the education of present, new and future users.
BTC and a few others had to dig their way hard, we are fortunate to have the road almost ready.
Each ecosystem wants to dig its remaining part of the road.
In my opinion, the documentation is scarce, and to really attract even the most common users, the idea of creating a “pack, video lessons and future updates” should be taken into consideration. This pack should also be translated into all the necessary languages where the ecosystem wants to trade.
This is only my thinking.