useUpdatePlatformFees

Hook for updating the platform fees on a smart contract.

import { useUpdatePlatformFees } from "@thirdweb-dev/react";

Usage

Provide your contract as the argument.

import { useUpdatePlatformFees, useContract, Web3Button } from "@thirdweb-dev/react";

// Your smart contract address
const contractAddress = "{{contract_address}}";

function App() {
  const { contract } = useContract(contractAddress);
  const { mutateAsync: updatePlatformFees, isLoading, error } = useUpdatePlatformFees(contract);

  if (error) {
    console.error("failed to update platform fees", error);
  }

  return (
    <Web3Button
      contractAddress={contractAddress}
      action={() =>
        updatePlatformFees({
          platform_fee_basis_points: 1, // Must be a number between 0 and 100
          fee_recipient: "{{wallet_address}}", // Use useAddress hook to get current wallet address
        })
      }
    >
      Update Fees
    </Web3Button>
  );
}

Configuration

platform_fee_basis_points

This is the fee, in basis points, that will be charged for each transaction made on the platform.

The basis point is equal to 1/100th of a percent. Therefore, a fee of 1 basis point is equal to 0.01%.

For example, a fee of 1 basis point would be equal to 0.01%, and a fee of 10 basis points would be equal to 0.1%.

The value must be a number between 0 and 100.

fee_recipient

The wallet address that will be receiving the collected fees.

You can use the useAddress hook to get this value.

import {
  useUpdatePlatformFees,
  useContract,
  Web3Button,
  useAddress,
} from "@thirdweb-dev/react";

// Your smart contract address
const contractAddress = "{{contract_address}}";

function App() {
  const address = useAddress();
  const { contract } = useContract(contractAddress);
  const { mutateAsync: updatePlatformFees, isLoading, error } = useUpdatePlatformFees(contract);

  if (error) {
    console.error("failed to update platform fees", error);
  }

  return (
    <Web3Button
      contractAddress={contractAddress}
      action={() =>
        updatePlatformFees({
          platform_fee_basis_points: 1, // Must be a number between 0 and 100
          fee_recipient: address, // Use useAddress hook to get current wallet address
        })
      }
    >
      Update Fees
    </Web3Button>
  );
}