Timvi - Gate
EN
Return
Gate
Gate stands for a buyback of Timvi (TMV) at the system rate and it offers two options:
  • Direct TVM to ETH conversion. In this case the counterparty is the service itself. Note that the amount of available Ether is limited.
  • Request of TMV to ETH conversion. A request is generated if the service itself cannot provide the required number of Ether.

The system posts the request to find a counterparty ready to convert their TVM to ETH to carry out the original request.

To perform the transaction, the second counterparty has to provide the amount of Ether calculated as the requested amount plus a 2% return insurance. This insurance may be used in transaction. If not used, the insurance amount is paid back to the Ether provider.

The service fee can be configured at the platform side in the range from 0% to 10%, by default it is set to 0.5%. It is charged on all transaction parties in the target currency received after the deal is confirmed.

Example:

Mike wants to convert his TMV into ETH, Gate is a good tool for it. If the requested amount is available in the system, he can simply perform the transaction immediately. Otherwise, he has to create a request and find a user willing to perform an opposite conversion and supply Ether.