Recurrent transfer documentation

Recurrent transfers can be a little tricky to understand, they do not in fact work like a series of transfer operations. So I thought I would write a doc to explain all of the details.

art by dall-e

The recurrent transfer operation

The recurrent transfer operation takes a lot of parameters, here's an example in javascript:

Transfers assets, such as HIVE or HBD, from one account to another.

hive.broadcast.recurrentTransfer(wif, from, to, amount, memo, recurrence, executions, extensions, function(err, result) {
  console.log(err, result);
});

Parameter	Description	Datatype	Notes
wif	Active private key for the from account	string
from	Account name to take asset from	string	No leading @ symbol
to	Account name to place asset into	string	No leading @ symbol
amount	Amount of of asset to transfer	string	"X.XXX ASSET" must have 3 decimal places. e.g. "5.150 HBD"
recurrence	How often will the payment be triggered	integer	e.g. 48 - unit: hours
executions	The times the recurrent payment will be executed	integer	e.g. 10 - one tranfer per recurrence
extensions	Unused at the moment	array	you should just input [] here
function()	Your callback	function

Some additional details:

• The first recurrent transfer will be executed immediately, so the from account must have at least the amount in its account.
• executions needs to be at least 2, otherwise there is no point in creating a recurrent transfer as it will expire instantly
• The recurrence has to be at least 24, aka 24 hours
• The maximum time a recurrent transfer can exists is 730 days (2 years), so if your recurrence is every 6 months, the max executions you'll be able to set will be 4
• You cannot recurrent transfer Hive power
• The max memo size is 2048 (same for regular transfer memos)
• You cannot execute recurrent transfers to yourself. If you really want to you could setup a recurrent transfer to another account that has a recurrent transfer set back to you: Bob -> Alice -> Bob

Validating that a recurrent transfer has been executed

Two virtual operations have been added to track recurrent transfer execution:

fill_recurrent_transfer

It's a virtual operation that indicates that a recurrent transfer has been executed correctly.

Field	Type	Description
from	string	The user that initiated the transfer (source of amount).
to	string	The user that is the target of the transfer (receiver of amount).
amount	string	The amount of HIVE or HBD transferred in the current iteration.
memo	string	A memo attached to the transfer.
remaining_executions	uint16	The number of remaining pending transfers.

You can see a live example in this block: https://hiveblocks.com/b/55391310

failed_recurrent_transfer

It can happen that a recurrent transfer fails if the from account does not have enough tokens to transfer when the recurrent transfer reaches it's due date.

When this happens, the blockchain pushes a failed_recurrent_transfer:

Field	Type	Description
from	string	The user that initiated the transfer (source of amount that has not enough balance to cover it).
to	string	The user that is the target of the transfer (would be receiver of amount, but no transfer actually happened).
amount	string	The amount of HIVE or HBD that was scheduled for transfer in the current iteration but failed.
memo	string	A memo attached to the transfer.
consecutive_failures	string	The number of failed iterations.
remaining_executions	uint16	The number of remaining pending transfers.
deleted	bool	true if the whole recurrent transfer was discontinued due to too many consecutive failures.

Some details:

if there are too many consecutive_failures, the blockchain will delete the recurrent transfer. At that point the deleted flag will be set to true to indicate of the deletion. Right now the threshold is set to 10 consecutive failed payments.

In case of failure, the recurrent transfer will not be retried. This means that if your recurrent transfer is set to execute weekly, the next time the recurrent transfer would execute is in a week.

Recurrent transfers in practice:

Here's a few examples to help you get started:

javascript

const hive = require('@hiveio/hive-js');
async function recurrent_transfer(wif, from, to, amount, memo, recurrence, executions) {
    return new Promise(resolve => {
        hive.broadcast.recurrentTransfer(wif, from, to, amount, memo, recurrence, executions, [], function (err, result) {
            console.log(err, result);
            return resolve("=")
        });
    })
}

// Send 2 HBD from bob to initminer every week for a month
await recurrent_transfer("5KS4VfGeaWLVG76P4QcBUiJD...", "bob", "initminer", "2.000 HBD", "this is a memo", 7, 4)

The best way to track the execution of recurrent transfers is to get the account history and filter on the two virtual operations:

    const { ChainTypes, makeBitMaskFilter } = require('@hiveio/hive-js/lib/auth/serializer')
    const op = ChainTypes.operations

    const walletOperationsBitmask = makeBitMaskFilter([
      //  op.recurrent_transfer,
        op.fill_recurrent_transfer,
        op.failed_recurrent_transfer,
    ])


    hive.api.getAccountHistory("bob", 200, 200, ...walletOperationsBitmask,  function(err, result) {
        console.log(err, result);
    });

Output is an array with all the operations:

[
  [
    6,
    {
      "trx_id": "0000000000000000000000000000000000000000",
      "block": 75,
      "trx_in_block": 4294967295,
      "op_in_trx": 2,
      "virtual_op": true,
      "timestamp": "2023-01-04T19:02:06",
      "op": [
        "fill_recurrent_transfer",
        {
          "from": "initminer",
          "to": "bob",
          "amount": "1.100 TBD",
          "memo": "this is a memo",
          "remaining_executions": 0
        }
      ]
    }
  ],
  [
    7,
    {
      "trx_id": "0000000000000000000000000000000000000000",
      "block": 75,
      "trx_in_block": 4294967295,
      "op_in_trx": 2,
      "virtual_op": true,
      "timestamp": "2023-01-04T19:02:06",
      "op": [
        "failed_recurrent_transfer",
        {
          "from": "bob",
          "to": "alice",
          "amount": "2.000 TBD",
          "memo": "this is a memo",
          "consecutive_failures": 10,
          "remaining_executions": 1,
          "deleted": true
        }
      ]
    }
  ]
]

cli_wallet

Create a 1 HBD transfer from alice to bob every 24 hours for 5 days:

recurrent_transfer alice bob "1.000 HBD" "This is a memo" 24 5 true true

get the ops in the account history to track completion:

get_account_history bob 20 20

example output:

#        BLOCK #    TRX ID                                             OPERATION            DETAILS                                           
---------------------------------------------------------------------------------------------------
1        11         2ad56e183d3498dcdf2ec3a187a8ed9b7499a4e3           account_created      {"new_account_name":"bob","creator":"initminer","initial_vesting_shares":"0.000000 VESTS","initial_delegation":"0.000000 VESTS"}
2        36         f843d208a773b5abb8bc9370caf228ad94868d4d           recurrent_transfer   {"from":"initminer","to":"bob","amount":"1.100 HBD","memo":"this is a memo","recurrence":1,"executions":200,"extensions":[]}
3        36         0000000000000000000000000000000000000000           fill_recurrent_transfer {"from":"initminer","to":"bob","amount":"1.100 HBD","memo":"this is a memo","remaining_executions":199}
4        46         36322b5d787f77a40ac6037b20f3d0118b6284e8           recurrent_transfer   {"from":"initminer","to":"bob","amount":"1.100 HBD","memo":"this is a memo","recurrence":1,"executions":2,"extensions":[]}
5        55         0000000000000000000000000000000000000000           fill_recurrent_transfer {"from":"initminer","to":"bob","amount":"1.100 HBD","memo":"this is a memo","remaining_executions":1}
6        75         0000000000000000000000000000000000000000           fill_recurrent_transfer {"from":"initminer","to":"bob","amount":"1.100 HBD","memo":"this is a memo","remaining_executions":0}
7        76         18d281ec590f09e31a719eaa6fdd1a1f95d0d76e           transfer_to_vesting  {"from":"initminer","to":"bob","amount":"5000.000 TESTS"}
8        76         18d281ec590f09e31a719eaa6fdd1a1f95d0d76e           transfer_to_vesting_completed {"from_account":"initminer","to_account":"bob","hive_vested":"5000.000 TESTS","vesting_shares_received":"129.595700 VESTS"}
9        78         0159c7ebb95385accf979afddc3eba15b17d770a           recurrent_transfer   {"from":"bob","to":"initminer","amount":"2.000 HBD","memo":"this is a memo","recurrence":1,"executions":10,"extensions":[]}
10       78         0000000000000000000000000000000000000000           fill_recurrent_transfer {"from":"bob","to":"initminer","amount":"2.000 HBD","memo":"this is a memo","remaining_executions":9}
11       97         0000000000000000000000000000000000000000           failed_recurrent_transfer {"from":"bob","to":"initminer","amount":"2.000 HBD","memo":"this is a memo","consecutive_failures":1,"remaining_executions":8,"deleted":false}
12       117        0000000000000000000000000000000000000000           failed_recurrent_transfer {"from":"bob","to":"initminer","amount":"2.000 HBD","memo":"this is a memo","consecutive_failures":2,"remaining_executions":7,"deleted":false}
13       137        0000000000000000000000000000000000000000           failed_recurrent_transfer {"from":"bob","to":"initminer","amount":"2.000 HBD","memo":"this is a memo","consecutive_failures":3,"remaining_executions":6,"deleted":false}
14       157        0000000000000000000000000000000000000000           failed_recurrent_transfer {"from":"bob","to":"initminer","amount":"2.000 HBD","memo":"this is a memo","consecutive_failures":4,"remaining_executions":5,"deleted":false}
15       177        0000000000000000000000000000000000000000           failed_recurrent_transfer {"from":"bob","to":"initminer","amount":"2.000 HBD","memo":"this is a memo","consecutive_failures":5,"remaining_executions":4,"deleted":false}
16       197        0000000000000000000000000000000000000000           failed_recurrent_transfer {"from":"bob","to":"initminer","amount":"2.000 HBD","memo":"this is a memo","consecutive_failures":6,"remaining_executions":3,"deleted":false}
17       217        0000000000000000000000000000000000000000           failed_recurrent_transfer {"from":"bob","to":"initminer","amount":"2.000 HBD","memo":"this is a memo","consecutive_failures":7,"remaining_executions":2,"deleted":false}
18       237        0000000000000000000000000000000000000000           failed_recurrent_transfer {"from":"bob","to":"initminer","amount":"2.000 HBD","memo":"this is a memo","consecutive_failures":8,"remaining_executions":1,"deleted":false}
19       257        0000000000000000000000000000000000000000           failed_recurrent_transfer {"from":"bob","to":"initminer","amount":"2.000 HBD","memo":"this is a memo","consecutive_failures":9,"remaining_executions":0,"deleted":false}