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Version: Next
SEP-31SEP-38

Retrieve Rates

GET 
/rate

Transactions that involve two non-equivalent on & off-chain assets (such as USDC on Stellar and fiat EUR) must use exchange rates that are communicated to the client application requesting the transaction. When clients make requests to the Platform for these exchange rates, the Platform sends this request to the anchor to fetch it.

Rates can be indicative or firm. The anchor must provide an ID and expiration if the client requests a firm rate.

Anchors can provide discounted rates specific client applications. The Platform includes the client_id parameter for this reason.

Either sell_amount or buy_amount will be included in requests as parameters, but never both. In the same way, either sell_delivery_method and buy_delivery_method may be included in requests, but never both, since either sell_asset or buy_asset is a Stellar asset.

Upon receiving the response, the Anchor Platform will validate the amount and price of the response.

If the validation fails, the Platform will respond to the client application's request with a HTTP status code of 502 Bad Gateway.

The sell_amount, buy_amount, price, and fee are validated as follows:

  • if rate.fee exists,
    • rate.fee.asset must have a positive value of significant_decimals defined in the asset configuration.
    • rate.fee.total must equal to the sum of rate.fee.details.amount.
    • if the rate.fee.asset == rate.sell_asset, sell_amount ~= price * buy_amount + fee must hold true.
    • if the rate.fee.asset == rate.buy_asset, sell_amount ~= price * (buy_amount + fee) must hold true.
  • if rate.fee does not exist, sell_amount ~= price * buy_amount must hold true.

The ~= is defined as equality within rounding error. The rounding error is defined as 10^(-significant_decimals)

Request​

Responses​

Success.

Last updated on by Elliot Voris