Hi Stellar developers,
We've recently seen an increased demand for a standardized API specification to facilitate off-chain liquidity in Anchor flows. We'd love to hear your thoughts about this.
Currently, our deposit/withdraw (sep6/24) and cross-border payments (sep31) standards assume that off-chain assets being deposited/withdrawn are the same as those pegged on-chain. For example, when you withdraw BRLT (by nTokens) using nTokens, you get BRL in your bank account.
However, there's nothing stopping an anchor from converting currencies during deposits and withdrawals, as long as they can provide the FX. For example, nTokens could also, theoretically, offer a withdrawal from USDC (by Circle) directly to BRL in a bank account in Brazil.
The missing part of this puzzle is that nTokens doesn't have an interoperable way to provide quotes for their users and, presumably, users will not initiate a withdrawal without knowing how much they're going to get in the end.
What would this standard API be good for? Some anchors are able to provide FX and prefer to skip asset issuance due to operational and/or regulatory complexity.
Before we start suggesting SEP changes/additions we'd love to hear what the developer ecosystem thinks.
1. Is this a good idea?
2. If so, are there any existing RFQ (request-for-quote) standards we should build on or emulate?
3. Any other comments you might have.