Once the testnet and mainnet servers are deployed, KYC collection conforms to regulations, banking rails are integrated, and the whole system is audited, it’s time to prepare for launch.
It is critical for an anchored asset to have liquid trading markets with XLM and ideally partner SA assets. Without a deep orderbook, its impossible to facilitate path payments at rates competivtive with equivalent off-chain fiat assets.
The SDF maintains a trading bot called Kelp that supports many trading and market making strategies out of the box, all of which are described in Kelp’s Github Repo. You can use Kelp for free and start automating the order placement process in a matter of minutes.
Once the order placement is automatic, you should track the health of your token’s market with these two parameters:
- Bid/Ask Amounts: Both sides of the order book should have at least 25k USD
- Spread Size: The average price of the bids and asks should be within 4% of each other.
The 25k USD value is relative to a new anchor that is still developing its business. Once the volume of traded assets (and the total supply) grows, this value should be increased.
A website allows wallets and consumers to find information about your team and your business, get in contact with questions and feedback, and understand how your service works. Your issuing account should link to that website so there’s a clear connection between the Stellar asset and the URL. To do that, usee the
set options, and choose the URL as the home domain. You can find more information about how that process works in our guide to publishing asset information.
Here is a list of requirements to make sure users have a great experience navigating through your website:
Users should feel that they are in the company’s domain based on the branding of the webpage. The brand universe can include many aspects, such as: company logo or symbol, slogan, colors, fonts, icons, etc…
Users want to know who you are and what you do before they’ll trust your service or hold your asset. Your website should describe your business, clarify your mission, and outline your vision. Giving more information about your company’s executive team, or about your team in general, is a great way to increase users’ confidence, and conversions.
Describing how are you integrated with the Stellar Network (and with which wallets) is also a great way to show users that the system is reliable, and that it conforms to the best protocols and practices of the financial industry.
Finally, make sure to describe what your asset represents, how it’s backed (e.g. it’s 1:1 with a fiat reserve), how users can redeem it, and who can use it (anyone, just for retail, etc).
Your webpage is also where users will go to report problems and reach out with questions and feedback. Make sure you clearly describe the process for contacting you, and for reporting bugs, and have a plan in place to offer necessary support.Adding a FAQ section once is a great way to defray support tickets and get information to users faster.
You should also have a contact email so customers can get in touch, report inconsistencies, and open tickets. Once you get those tickets, you need to answer them in a reasonable amount of time.
All RAs must connect with SAs that have transaction volume to send. The SDF works with strategic partners to build and improve these relationships, and the ultimate goal is for there to be an entire ecosystem (or network) of SAs and RAs globally.
Stellar.org does not yet host any resources documenting existing SEP-31 anchors, but it is coming.
Last updated Jan. 07, 2021