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.
Supporting two languages (English and the fiat currency country language) allows users to have a seamless experience while navigating through screens, and supports international institutions (like wallets) that need to test the product before starting new integrations.
You can support multiple languages in your webapp by using the
Accept-Language parameter from the http request headers to localize the content and allowing users to change that in a simple way (e.g. a flag icon on the top bar). If a specific wallet doesn’t send the header parameter, we recommend showing the user a language selection screen in the beginning of the deposit and withdraw processes. Once a user chooses a language, you can store their selection so you only need to ask them once. In addition to localizing text, make sure to check number formatting, dates, etc.
Having a group of beta testers is a great way to check if there are any edge cases that need polishing, and to confirm that the system is working well with a variety of user inputs. You can beta test using a soft launch stage before you start putting effort into marketing and distribution. Documenting the testing process with screenshots and videos is very helpful for future security audits, and gives new partners and potential users clarity and confidence in the product.
Once your asset is available for in - app deposit and withdrawal, its order book will start to fill up with user buy and sell orders. To make sure these orders have liquidity — in other words, to make sure people can actually buy and sell your asset if and when they want to—it’s essential to have a healthy market with a small spread and a deep set of orders on both sides.
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 Anchor user interactions are done through a Wallet (or Exchange), so it’s vital for Anchors to be connected to Wallets that have a good market penetration in the region where the business is most focused. Connecting to Wallets is a simple process, since both ends of that integration are already compliant with SEPs.
Stellar.org maintains a list of wallets, many of which currently support SEP-24 Sending them a message with more information on an asset and an issuer account is a great way to start getting some real users to the Anchor.
Last updated May. 27, 2022