Test of Keychain’s Recurring Transfer

There are tools developed here in Hive that I have yet to explore, one of them is Keychain’s Recurring Transfer. I’m aware of it but I never get to try it in any use case until today. I have entered an agreement that was made workable because of this Keychain feature. It’s a P2P HP Delegation agreement that requires me to make daily payment to my HP Delegator at a consistent occurrence. I’m not a Dev and I have no clue on how to create my own app to automate a daily transfer like this.

It’s a good thing Keychain has made it possible even without an escrow.

As I was doing the process of setting up the recurring transfer, I realized that my account will become the escrow so I need to maintain the fund in order for the transaction to go through.

For example, if you set up a 1 Hive daily transaction to occur for 30 times then your Hive balance should be at least 30 Hive so that the transaction will go through. It’s not a wonder why my first try doesn’t go through because I didn’t had enough Hive balance that will suffice the requirement of the transaction. At first I thought I can simply set 1000-time occurrences.

And then I figured that the issue is probably the lack of Hive balance in my wallet so I reduced the number of occurrences to match the amount of liquid Hive that I have in my wallet. The transaction went through and it’s the beginning of my P2P HP delegation venture 🚀.