Smart Transfers FAQ

What are Smart Transfers?

Smart Transfers are real-time, automated payment processes that utilize smart contract technology to handle on-chain transfers, including payrolls, pay-per-use models, micropayments, and more.

How do I set up a Smart Transfer?

To set up a Smart Transfer, follow these steps:

1. Navigate to the Smart Transfers page and click on “Create.”

2. Configure your Smart Transfer by setting the cliff release amount, vesting transfer release frequency, and stream options.

3. Select recipients manually or by importing a .csv file.

4. Confirm and send your smart transfer.

What is a Cliff Release Amount?

The Cliff Release Amount is a specified percentage of the total amount to be released upon the first payment. It allows for an initial lump sum to be distributed at the beginning of the transfer schedule.

What does Frequency mean?

The Vesting Transfer Release Frequency determines how often the amounts are released. You can set this to various intervals, such as every second, minute, day, week, month, bi-monthly, quarterly, or yearly.

Can I cancel a Smart Transfer once it has started?

Yes, you can choose to create a smart transfer stream that is either cancellable or immutable. If a stream is cancelled:

• Before the start time: The entire deposit amount is returned in full.

• During the streaming process: The Smart Contract calculates the amount that has been streamed and returns the unstreamed portion.

How do I add recipients to a Smart Transfer?

You can add recipients by manually selecting them or by importing a .csv file containing the recipient details.

Are there any fees associated with Smart Transfers?

Yes. Currently there is a fee of 0.2%. Please check the the interface as well for the fee when you are performing the smart transfer.

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