Subscriptions
Last updated
Last updated
On Grateful, a giver can start a subscription from one profile to another, but only if they have permission from the giver's profile. The giver gets to choose which vault they want to subscribe to and at what rate.
The rate determines how much is transferred from one profile to another every second. The rate unit is measured in 1e-20 per second.
For example:
If I subscribe with a rate of
38580246913580, it means that in a month, the creator will end up receiving one complete asset. We figure this out by multiplying the rate by the approximate number of seconds in a month (2592000), which gives us roughly1e20.
In Grateful, the actual rate used for a subscription might be different from what the user provided. It depends on the chosen vault. If the vault generates rewards over time, the share-to-asset ratio may change. To calculate the subscription rate, it converts the asset rate into a share rate using a function called "convertToShares" from the ERC4626 standard.
When a subscription is created for the first time, an NFT is minted. This NFT represents the unique link between a giver profile and a creator profile. It keeps track of how long the subscription has been active and is shown as an SVG. If a subscription already exists, it only updates the information with the new subscription values.
Users must take into account that if a profile is transferred, the subscription NFTs associated to that profile won't. Each subscription is an unique NFT that must be transferred on their own (or batching transfers).
A giver can choose to end their subscription from one profile to another, but only if they have permission from the giver's profile. They can unsubscribe whenever they want.
