Sponsored Transactions Misunderstanding and Feature request


#1

I just implemented sponsored tx feature and found the following results that I dont understand. 1. by default tx fees are charged in Waves, so you actually need to select the token you want to pay the fee with. 2. you can pay tx fees for moving any token including Waves with any sponsored token that is in your wallet (which makes no sense at all, since it means that the issuer of a token A, may be forced to pay force a tx of a token B or even Waves, if the sender chooses so. As a token issuer, I want to sponsor only txs of my token). Can you elaborate on the logic behind it, what is the economical or a business situation should be so I would want to pay for a transaction of the token B which is not mine? (I am an Waves ambassador and trying to understand how to explain this to customers) 3. Sponsored txs dont work on mobile in any form.

My suggestions: 1. Sponsor tx fee only for the token I issued, not for all the tokens. 2. Make default tx fees paid in the said token (option to select Waves as the tx fee) 3. Make it work on mobile. (when is this feature coming? In my particular case, people pay with my token face-to-face using mobile)


#2

The logic is that an issuer sends a sponsored token to someone to promote it, and who receives it begins to use this token to avoid paying fees.


#3

Thank you for your reply, but it doesnt address my question at all.


#4

Can someone from the development or product team clarify?


#5

Yes, because there could be more than one sponsored token in an user wallet, maybe 10 or 100, and the users who receive it (and not only you! :smile: ) should be free to choose between them, based on their convenience.

It’s right that Waves is the first option, in my opinion, but at the end users will use the cheapest token and not the first in order of position.

If you want to put it in the first position, probably you should create your custom wallet. Even if, I think it is not possible yet - maybe I wrong - to do what you need.


#6

Question again: It is not a hypothetical question, this is happening in real business.
The business (ThatChannel) created THAT token as a loyalty reward system and accepts THAT as payment for their services. I helped them and turned the sponsored transaction feature on. Now ThatChannel wants to sponsor transactions of THAT token ONLY. The business is asking, why they have to sponsor any transaction of any token on the Waves platform. (The user can choose to pay for any transaction with THAT).
What do I say? How is ThatChannel benefiting by paying for transactions of random tokens?
Can you help me understand and answer? Right now, I am confused.
More over, people on Waves media channels don’t understand even what I am asking. If the question is not clear, let me know, I will try to clarify.


#7

You just sponsor your token A, you don’t pay the tx of other sponsored tokens when users choose them instead of your Token A.

I’m not sure you know how sponsored transactions work. Here you can find more info:

Also look at this example:


#8

I need to help .my huge money or BTC block one bustard apps so I need help


#9

This is exactly what is happening. https://wavesexplorer.com/tx/6YkZyDqPEgeiBxDQzgT2PtgVk7y1Ndk1hDCRTT2MPX8n
Transaction of THAT tokens, fees paid in feetoken

The issuer of the feetoken paid for the transaction of THAT token.

I am asking again: what is the business logic for this? Why does the issuer of the feetoken have to pay for the transactions of THAT tokens?


#10

Trader A is sending “THAT” tokens to trader B. To pay tx fee he is using “feetoken” because probably it is the cheaper token he has between sponsored tokens he owns in his wallet: WAVES, THAT, freetoken and probably others.

Let’s suppose that “THAT” token value is 1 WAVES, while feetoken is 0.1 WAVES.
Why trader A should pay 1 THAT token worth 1 WAVES instead of paying 0.1 feetoken worth 0.1 WAVES? This is the logic.

The feetoken issuer in this way promotes his token, the same does the issuer of THAT token. But the user theorically will use before the token that is cheaper.

I say theorically because if I think that the cheaper one will increase in value, I will not use it and I will prefer to use a pricier one that I think it is just a spam token whose price is pumped and will collapse.

I can also spontaneously decide to use a pricier token for a transaction to support a project that I consider valid.


#11

Thanks for your effort. You are not answering my question though. I don’t really know how to rephrase it.


#12

Where can I find the Waves people who actually know the specifics?


#13

If you want to force a trader to use only your sponsored fee, well, you can’t.


#14

I guess what he wants is sponsored transaction by his own token only for transactions of his own token. Which should be possible somehow with the upcoming features.


#15

Thanks for rephrasing, you are the only one who understood the question. Do you why it is not possible to sponsor only my own tokens?


#16

I believed 4billonyears was totally right with this post.

I had assumed that sponsored transactions would only work for transactions of the asset used to sponsor transactions. I had thought that it was a bug that needed to be fixed so that receivers of tokens which can be used through sponsored transactions can’t use that token to pay for transactions of other assets.

However I put in a support ticket and the prompt answer from Waves support was that this is not a bug but rather the exact outcome intended.

So now I understand the purpose of sponsored transactions differently. I had assumed like 4billionyears that this feature was designed so that if you issue a token the users of that token don’t need any other asset to use that token. This feature does have that functionality BUT it has the added element of sponsoring any chosen transaction.

I will try and wrack my brain to understand the reason why this would be useful. I am guessing it’s some kind of further incentive for accumulating the fee paying token asset. Basically if you do this sponsorship then your token suddenly has a real value because it can actually be used to pay for transactions. That’s pretty cool. There should be another way though, or a restriction you can put on the sponsorship, if you just want it to be used as a way to cover your own token transactions.


#17

Another thing which I now think of that someone has probably asked before is: it would be useful if the Waves used in any transaction or trade fee etc would be shown in the “Transactions” tab.


#18

We asked about this issue also to create a option so that the sponsored token only is available to send that token only, so if you sponsored fees people can’t send waves or other tokens make it locked to that token only, as we might want to give our customers cheaper transactions but others will buy them up just to send transactions , whatever is the cheaper transaction people will use costing the project extra fees for people who are none users to the actual project,

so there should be more options on this selection


#19

Why don’t you just set your custom fee higher than the waves fee, example 0.002 waves worth your token and you only pay 0.001 Waves? all issues solved


#20

If one would like to give users a cheaper fee and not the whole system! Maybe they only want to charge them 0.0005 waves worth of the token ,that’s the only issue, it be cheaper to take the 1waves they charge you and send users a little waves or buy someone else’s sponsorship token and send users