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Clarify transfer fee precision

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mDuo13
2018-04-04 16:27:48 -07:00
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content/concept-transfer-fees.md
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@@ -29,13 +29,13 @@ In this scenario, Salazar (the sender) holds EUR issued by ACME, and wants to de
# Technical Details
The transfer fee is represented by a setting on the [issuing address][]. The transfer fee has a maximum precision of 9 digits, and cannot be less than 0% or more than 100%. The TransferRate setting applies to all currencies issued by the same account. If you want to have different transfer fee percentages for different currencies, use different [issuing addresses][issuing address] for each currency.
The transfer fee is represented by a setting on the [issuing address][]. The transfer fee cannot be less than 0% or more than 100% and is rounded down to the nearest 0.0000001%. The TransferRate setting applies to all currencies issued by the same account. If you want to have different transfer fee percentages for different currencies, use different [issuing addresses][issuing address] for each currency.
**Note:** The [fix1201 amendment](concept-amendments.html), introduced in `rippled` v0.80.0 and enabled on 2017-11-14, lowered the maximum transfer fee to 100% from an effective limit of approximately 329% (based on the maximum size of a 32-bit integer). The ledger may still contain accounts with a transfer fee setting higher than 100% (a `TransferRate` of `2000000000`). Any transfer fees already set continue to operate at their stated rate.
## RippleAPI
In RippleAPI, the transfer fee is specified in the `transferRate` field, as a decimal which represents the amount you must send for the recipient to get 1 unit of the same currency. A `transferRate` of `1.005` is equivalent to a transfer fee of 0.5%. By default, the `transferRate` is set to no fee. The value of `transferRate` cannot be less than `1.0` or more than `2.0`. The value `null` is a special case for no fee, equivalent to `1000000000`.
In RippleAPI, the transfer fee is specified in the `transferRate` field, as a decimal which represents the amount you must send for the recipient to get 1 unit of the same currency. A `transferRate` of `1.005` is equivalent to a transfer fee of 0.5%. By default, the `transferRate` is set to no fee. The value of `transferRate` cannot be less than `1.0` or more than `2.0`. The transfer rate is rounded to 10 significant digits including the ones digit. The value `null` is a special case for no fee, equivalent to `1.0`.
A financial institution can send a [Settings transaction](reference-rippleapi.html#settings) from its [issuing address][] to change the `transferRate` for its issuances.
@@ -43,7 +43,7 @@ You can check an account's `transferRate` with the [getSettings method](referenc
## rippled
In `rippled`'s JSON-RPC and WebSocket APIs, the transfer fee is specified in the `TransferRate` field, as an integer which represents the amount you must send for the recipient to get 1 billion units of the same currency. A `TransferRate` of `1005000000` is equivalent to a transfer fee of 0.5%. By default, the `TransferRate` is set to no fee. The value of `TransferRate` cannot be set to less than `1000000000` or more than `2000000000` (a "100%" fee). The value `0` is special case for no fee, equivalent to `1000000000`.
In `rippled`'s JSON-RPC and WebSocket APIs, the transfer fee is specified in the `TransferRate` field, as an integer which represents the amount you must send for the recipient to get 1 billion units of the same currency. A `TransferRate` of `1005000000` is equivalent to a transfer fee of 0.5%. By default, the `TransferRate` is set to no fee. The value of `TransferRate` cannot be set to less than `1000000000` ("0%" fee) or more than `2000000000` (a "100%" fee). The value `0` is special case for no fee, equivalent to `1000000000`.
A financial institution can submit an [AccountSet transaction](reference-transaction-format.html#accountset) from its [issuing address][] to change the `TransferRate` for its issuances.