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Crypto Rewards Powered by Zero Hash Liquidity Services

Background

Using the light-weight and singular API endpointPOST /rewards; Zero Hash connected fin-tech platforms can offer crypto rewards products. 

The end-result of this endpoint being called and executed is the customer receives a crypto balance of the specified amount.

Use Cases

  • Credit/Debit card rewards
  • Round-ups

How it Works

High Level

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Detailed Flow

1. If your organization is interested in using this feature, please get in touch with a Zero Hash representative to enable the rewards product.

2. Platforms will need to pre-fund the float account. Although the only responsibility of the platform is to send funds to Zero Hash, here are the technical details of the float account in case the platform wishes to query the balances via GET /accounts:

Field Value
Participant Zero Hash Liquidity Services (00SCXM)
Asset USD
Account Type available
Account Group [Platform Code]
Account Label rewards

 

Executing a Rewards call is technically a purchase event. If the float account balance is insufficient when compared to the purchase amount, Zero Hash will reject the call and return an error.

3. POST /rewards

You can use quantity or total. All other fields are required.

Using quantity- "I want to give my customer, CUST01, .002 BTC"

{

"participant_code":"CUST01",
"underlying_currency":"BTC",
"quoted_currency":"USD",
"quantity":".002"
}

Using total- "I want to give my customer, CUST01, $60 worth of BTC"

{

"participant_code":"CUST01",
"underlying_currency":"BTC",
"quoted_currency":"USD",
"total":"60"
}

 

4. These transactions will settle instantly. The platform can then query GET /accounts and view the balance for CUST01. In this example, the Platform (PLAT01), is making the call:

{
"asset": "BTC",
"account_owner": "CUST01",
"account_type": "available",
"account_group": "PLAT01",
"account_label": "general",
"balance": ".002",
"account_id": "14a147e8-6d71-42a2-832c-4d45d4b50d55",
"last_update": 1616428235111
},