https://www.icyphoenix.com/viewtopic.php?f=26&t=3966&p=26946#p26946
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Mighty Gorgon
Sun 30 Mar, 2008 15:42

Re: Watermarks With Gif's And Png's
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I have decided to not apply watermark to GIFs because there is the risk that animated GIFs lose their animation.

For PNG it should depend on the PNG format (is your watermark 8bit PNG with alpha channel?), but I'll do some checks...


