Existential Deposit
Most Substrate-based chains, including Polkadot, use an existential deposit (ED) to prevent small accounts from bloating the chain state.
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Most Substrate-based chains, including Polkadot, use an existential deposit (ED) to prevent small accounts from bloating the chain state.
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In Polkadot, we have something called Existential Deposit (ED). When you generate an account (address), you only generate a key that lets you access it. The account does not exist yet on-chain. For that, it needs the existential deposit of 1 DOT.
If you fall below the existential deposit limit, your account will be reaped. That means your account will be wiped from the blockchain's state to conserve space, along with any funds in that address. You do not lose access to the reaped address - as long as you have your private key or recovery phrase, you can still use the address - but it needs a top-up of another existential deposit to be able to interact with the chain.
It is important to note that transaction fees do not lead to an account being deleted. This is because the fees are deducted from the account before any other transaction logic. If an account has a balance that is equal to the required minimum deposit, it cannot create a valid transaction. To complete a transaction, additional funds must be added to cover the transaction fees.
Polkadot: 1 DOT (currently 1,5)
Polkadot Asset Hub: 0.01 DOT (currently 0.5)
Kusama: 0.000333 KSM
Kusama Asset Hub: 0.000003333 KSM
If you send a transfer with a value below the ED to a new account, it will fail.
If you are getting royalties from the collection, you need to have this existential deposit in the account that is receiving these royalties. If you remove the existing deposit, you will not be able to receive royalties and they may be lost.
In order to receive royalties, always keep your existential deposit in your wallet on the correct chain!
Always be aware of how much of your funds you teleport so you don't lose your funds and get yourself under the ED.