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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
  • Promotional rewards

How it Works

High Level

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Detailed Flow

1. If interested in using this feature, please get in touch with a Zero Hash representative so that necessary configurations can be made.

2. Platforms will need to pre-fund the float account. Technical details of the float account are as follows:

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 compared to the desired 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. The 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
},