I'm trying to send Quantstamp (QSP) to Binance offline, using MyEtherWallet. In mew's offline helper... when I paste in the signed transaction (into the online MEW, as received by offline version of mew) it keeps saying receiver is the QSP contract address - not the binance address (as supplied to me by Binance). The sender is correct (my mew wallet) - but not the receiver. Is that supposed to happen?


QSP is an ERC-20 token. Token transactions work a bit differently than regular Ether transactions. To transfer a token, you send a (0 Ether) transaction to the token contract, with data that specifies the value of tokens to send, and the address where you want to send the tokens to. If you take a look at a token transaction on Etherscan.io for example, you will see that the "To" address is the token contract.

A token transaction can look something like this:

  • Address: 0x99ea4db9ee77acd40b119bd1dc4e33e1c070b80d (QSP contract)
  • Value: 0 Ether
  • Data: 0xa9059cbb0000000000000000000000004bbeeb066ed09b7aed07bf39eee0460dfa2615200000000000000000000000000000000000000000000000000de0b6b3a7640000

The data consists of three parts:

  • The first 4 bytes (or 8 hexadecimal characters) specify the function of the contract to call. In this case 0xa9059cbb, which is the transfer(address,uint256) function. This is also called the function signature or selector.
  • The address where to send the tokens to. This is the next 32 bytes after the function signature, in this case 0x4bbeeb066ed09b7aed07bf39eee0460dfa261520 (removing the zeroes at the start).
  • The number of tokens to send. This is the last 32 bytes of the data, which is 0xde0b6b3a7640000 or 1000000000000000000 in this case. QSP has 18 decimals, so this is equla to 1 QSP.

You can read more about transaction data here, and more about how tokens work in the background here.

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  • Thanks for the info, very interesting. However... in case somebody else happens upon this question, I'll answer it this way (after crossing my fingers, I ran a test, sending just one token to "see what happens"): The answer is "yes," you'll see the token contract address, not the Binance address in the "receiver" field. (So, you'll have to make darn sure you input the Binance address in correctly when initially inputting it - because there doesn't seem to be a way to check it before putting the order through.) If I'm wrong about this, anybody, please correct me. – tvsmvp Aug 14 at 21:55

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