Reduce existential deposit
Existential deposit is currently 0.01 DOT (old). It will be 1 DOT (now). Many people will be confused why their transaction failed due to existential deposit. People cannot send <1 DOT to new account, account with exactly 1 DOT won't be able to make transaction. Currently the tx fee for a transfer is 0.000149 DOT (old) or 0.0149 DOT (new), so I will suggest to make new existential deposit to be 0.05 DOT (new). The primary reason of having existential deposit is to prevent dust account and with whatever DOT price, I wouldn't consider 1 DOT (new) is a dust value.
Comments (4)
Comments (4)
Excuse me I don’t know who you are I am new to this and just set this account up last night so I am having to learn a a lot it was a mistake and I am filing a report on you!
This depends a lot on the price of DOT but I agree even at a much lower price 1 DOT can't be considered dust. What are the other reasons for having an existential deposit?
Excuse me I don’t know who you are I am new to this and just set this account up last night so I am having to learn a a lot it was a mistake and I am filing a report on you!
This depends a lot on the price of DOT but I agree even at a much lower price 1 DOT can't be considered dust. What are the other reasons for having an existential deposit?