Why do I get Sender's Account Does Not Exist when I send ERC20 Token from a new account with tokens?

Question

I create my wallet like this

const wallet = ethers.Wallet.createRandom()

I use metamask to send RIF tokens to the public address. I confirm the new balance of the account and it is accurate, the ERC20 transaction worked.

When I try to send some of the RIF token from that wallet, like this:

const connectedWallet = await wallet.connect(provider)
const contract = new ethers.Contract(
      process.env.CONTRACT_ADDRESS,
      rifContractAbi,
      onlineWallet,
    )

await contract.transfer(to, tokens)

I get the following error:

error: Error: processing response error (body="{\"jsonrpc\":\"2.0\",\"id\":246,\"error\":{\"code\":-32010,\"message\":\"the sender account doesn't exist\"}}\n", error={"code":-32010}, requestBody="{\"method\":\"eth_sendRawTransaction\",\"params\":[\"0xf8a8808403e252e08290999419f64674d8a5b4e652319f5e239efd3bc969a1fe80b844a9059cbb00000000000000000000000010d158b42bfbf39641896ad8b8fd9cf7078d2f4e0000000000000000000000000000000000000000000000000de0b483f7abe82062a0175a2b6e35c1ff301ff45341bf5a63a3895a63404c78b6644cd2f8dee5b9a030a010fbbd608476a555bccd9f3ccf67ceac46183f1be4a82b14a46bbb78ba312fc9\"],\"id\":246,\"jsonrpc\":\"2.0\"}", requestMethod="POST", url="https://public-node.testnet.rsk.co", code=SERVER_ERROR, version=web/5.7.0) 

As soon as I sent some RBTC to that account the transaction works.

Answer 1

Explanation

In order to successfully transfer ERC20 tokens, the EOA performing the transaction will need to satisfy 3 conditions:

1. Sufficient token balance --> this is what you are transferring
2. Sufficient RBTC balance --> to pay for gas fees
3. Submit a valid transaction --> transfers are only effected upon being added to a block, and that block being added to the consensus chain

---

Reproduce the problem

// assuming that values for `CONTRACT_ADDRESS` and `CONTRACT_ABI` are set

const wallet = ethers.Wallet.createRandom();
const fungibleToken = new ethers.Contract(
      CONTRACT_ADDRESS,
      CONTRACT_ABI,
      wallet,
    );

If you do the above, and then immediately execute the following:

// assuming that values for `toAddress` and `transferAmount` are set

await fungibleToken.transfer(toAddress, transferAmount);

... you have yet to satisfy conditions (1) and (2) above. Therefore (3) will also be rejected as a result.

---

Solution

To check if you have satisfied condition (1):

const tokenCount = await fungibleToken.balanceOf(wallet.getAddress());
console.log('sufficient token balance:', tokenCount > transferAmount);

If this value is insufficient, and you're on RSK Testnet, can visit faucet.rifos.org to obtain some tRIF tokens.

To check if you have satisfied condition (2):

// assuming value of `ERC20_TRANSFER_GAS_ESTIMATE` is set

const rbtcBalance = await wallet.getBalance();
console.log('sufficient token balance:', rbtcBalance > ERC20_TRANSFER_GAS_ESTIMATE);

Set the value of ERC20_TRANSFER_GAS_ESTIMATE by using a gas estimation method, or even hard-coding its value to a safe overestimate (eg 1e6 )

If this value is insufficient, and you're on RSK Testnet, can visit faucet.rsk.co to obtain some tRBTC cryptocurrency.

After satisfying the above, and you subsequently execute the following once more:

// assuming that values for `toAddress` and `transferAmount` are set

await fungibleToken.transfer(toAddress, transferAmount);

... the transfer should succeed.