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The giver buys 100tiktok coin for 100usd. The receiver gets 100tiktok coins from the giver. For google/apple to get there 30% cut, the 100tiktok coin can't convert back to 100usd.

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I think their system works like this:

You buy two coins for $0.02 and they give one diamond or $0.01 to the recipient. This looks like a 50% cut but after App Store fees and taxes it's more like 25%.

Still bad but not 70% as implied in the article.

> BBC staff in London sent TikTok gifts worth $106 from another account. At the end of the livestream, the balance of the Syrian test account was $33.

So you think this is because of quantization at the level of cents in the unit of account?

> while the company takes up to 70% of the proceeds, a BBC investigation found.

I’m thinking it’s not possible for TikTok to take 70% of the proceeds if there’s App Store fees and sales taxes / VAT involved.

But please show me the math if I’m wrong.

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