ERC20s Based on Ethereum and Other London Fork EVMs
3 min
If you are not familiar with EIP1559, you can read about it at the link below:
Basic Details
Basic Details
- Total Amount: The total funds in the Cashbox. This amount is transferred immediately from the Cold Vault to the new Cashbox upon creating it. Additional amounts CANNOT be added to the Cashbox in the future.
- Initially allocated Amount: The amount of ETH sent to the cashbox for fees. More ETH can be sent to the Cashbox from the Cold Vault or any other wallet, at any time. Leftovers from this amount can be sent to the Cold Vault (after the Cashbox is closed) by clicking the “Collect” button.
- Number of parts in Cashbox: For details, see Cashbox Parts. For ERC20, the number of parts determines the increments of ERC20 that can be sent. The fees, paid in ETH, are calculated separately.
- Max Priority Fee Lower Limit in Gwei and Max Priority Fee Upper Limit in Gwei: This will determine the possible transaction Priority Fee for transactions sent from the Cashbox. For example, if you choose a range between 10 and 20, you will be able to send transaction fees of 10, 11, 13, 15, 17 and 20. Choose a range which is wide enough to allow you to send transactions even if the fees change substantially in the future. The Max Fee will be determent by the MPC Max Fee configured in the system preferences.
- Max Priority Fee for Creating the Cashbox in Gwei: This is the fee used to transfer the Total Amount and Initially allocated Ethereum Amount to the Cashbox. The Max Fee is determined by the Cold Max Fee configured in the system preferences. The system pushes a notification to the mobile and desktop applications with a recommended fee as soon as you open the Cashbox creation window on the Cold Vault. This notification only works if the Cold Vault is plugged into the proxy via the yellow network cable.
To create this cashbox, two transactions will be created, one to transfer the total amount of ERC20 and one to transfer the initially allocated Ethereum amount.
Advanced Details
Check the Advanced box in the upper right to access advanced Cashbox details.
Advanced Cashbox details
Advanced Cashbox options include all the basic details, plus the following:
- Total Amount: In advanced mode, this is the total amount of funds the Cashbox can send to the destinations over its lifetime. This is not necessarily the amount transferred to the Cashbox upon creation; funds can be added later.
- Initially allocated Amount: The amount of ERC20 to transfer immediately from the Cold Vault to the new Cashbox upon creating it. This can be less then the total amount; funds can be added later. Importantly, while the Cashbox can receive ANY amount of funds over the course of its existence, it can only send up to the total amount configured earlier. Any funds in excess of that total amount are unable to be sent to the destinations.
- Initially Allocated Ethereum Amount (for fees): Amount of Ethereum initially sent to the Cashbox for fees. This amount is transferred immediately from the Cold Vault to the new Cashbox upon creating it. This is just the initial amount; funds can be added later. Leftovers from this amount can be collected from the Cold Vault, after the Cashbox is closed, by clicking the “Collect” button.
- Max Fee per Transaction in Gwei: The maximum fee that can be paid for a transaction when using the Cashbox.
- Max Fee for Creating the Cashbox in Gwei: The maximum fee that can be paid for transferring the Initially allocated Amount and Initially allocated Ethereum Amount to the Cashbox.
- Gas limit: The Gas limit to use in any transaction sending from the Cashbox to the outside. Configuring a value above 21,000 is only relevant if you plan to send funds to smart contracts.
To create this cashbox, two transactions will be created, one to transfer the total amount of ERC20 and one to transfer the initially allocated Ethereum amount.
Next steps
- To send money from a Cashbox to a preconfigured destination, see Sending Cashbox Transactions (Mobile) and Sending Cashbox Transactions (Desktop).
- To close a Cashbox, see Closing a Cashbox.