Deposit & Withdrawal Limits
Limits are imposed to protect against large deposits which may result from illegal activity (for example a hack where attackers need to quickly move a large amount of funds). By default, new users are limited in the amount they can deposit and withdraw. Established users or businesses with inherent KYC can access higher limits through tiered limits.
Deposits
- 1.A single deposit cannot exceed 10,000 BOB.
- 2.A single address cannot deposit more than 10,000 BOB during a single 24 hour period.
- 3.All deposits from all addresses (see tiers below for more info) cannot exceed 300,000 BOB during a single 24 hour period.
- 4.The overall size of a pool cannot exceed 1,000,000 BOB.
Withdrawals
- 1.All withdrawals from all addresses cannot exceed 100,000 BOB during a single 24 hour period.
Transfers
- 1.Transfers amongst users in the pool are unlimited. The minimum transfer amount is $0.05 BOB. All transfers incur a $0.10 BOB fee.
The $10,000 default deposit limit is an established reporting standard relevant to travel, banking, and other industries.
Up to 255 limits can be set for established users and users meeting sufficient off-chain KYC requirements. These limits are configurable based on user and project needs (for projects with high payrolls for example).
Tiers increase deposit limits for individual accounts, but do not impact the overall pool size.
-> Tier 0 (default tier) allows the following:
- A single deposit cannot exceed 10,000 BOB.
- A single address cannot deposit more than 10,000 BOB during a single 24 hour period.
-> Tier 1 increases the deposit limits for an individual account:
- 1.A single deposit cannot exceed 100,000 BOB.
- 2.A single address cannot deposit more than 100,000 BOB during a single 24 hour period.
-> Both tiers adhere to the following limits:
- All deposits from all addresses cannot exceed 300,000 BOB during a single 24 hour period.
- The overall size of a pool cannot exceed 1,000,000 BOB.
This means that if someone in Tier 1 deposits 300,000 BOB, no additional deposits can be made (Tier 0 or Tier 1 participants) during that same 24 hour period. This is because the all deposits from all addresses criteria of 300,000 BOB has been met.
Deposits can resume the following day.
Last modified 4mo ago