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devnullprod

XRP Standard Question: Gateway Trading / Issuing Address(es)

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Good day, I have a quick question with regard to gateway addresses (I apologize if it has been asked before). According to the ripple documentation:

https://ripple.com/build/gateway-guide/#liquidity-and-currency-exchange

Quote

However, a gateway may still want to provide liquidity to XRP or other popular currencies at a baseline rate, especially when the gateway is new to the exchange. If you do provide liquidity, use a different address for trading than your issuing address.

 

My question is: Does the rippled software have any technical limitation prohibiting an issuing address from one that can creating offers / etc? And if so is this restriction enforced at the transaction level? (eg do not accept offers from this address as it is an issuer or do not allow address to become an issuer as it has outstanding offers).

 

I ask because I am developing some XRP analysis software myself (http://wipple.devnull.network/) and currently am tracking new gateway issuances (and those that are redeemed) by monitoring gateways payment transactions in non-xrp currencies. If rippled allows gateway issuing addresses to perform other activities outside of this (or if it does not verify this at the transaction level incase of bad actors who modify the code) then the issuances / remittance statistics collected could be skewed.

 

Appreciate any info

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43 minutes ago, riptidel said:

Does the rippled software have any technical limitation prohibiting an issuing address from one that can creating offers / etc? And if so is this restriction enforced at the transaction level?

Nope. It's the opsec recommendation from Ripple to the gateway operators. 

I like the service you are building. 

The issued value can be accessed by api v2. 

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8 hours ago, Graine said:

Nope. It's the opsec recommendation from Ripple to the gateway operators. 

I like the service you are building. 

The issued value can be accessed by api v2. 

Cool, that's what I figured. I'm using the v2 api for a few things (it's defintely convenient) but prefer to rely on querying my own rippled instance for data when possible. Afterall ripple labs have states that their rippled instance + v2 api are made public in "good spirit" though should not be queried heavily (afterall the xrp ecosystem is p2p so it's best to use that!)

Thanks for the response. I figure the only way to distinguish between new issuances and regular trading activities for gateways that _don't_ conform to the opsec (eg use the same address for both) would be to monitor their transaction stream, then check there balances on activity for changes in non-xrp amounts. If any issued by the address are different, one can conclude that those are new issuances / remmitances (correct me if I am mistaken or if there is an easier way).

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6 minutes ago, riptidel said:

I figure the only way to distinguish between new issuances and regular trading activities

...is tracking the outstanding balance on the IOU of the issuing wallet. The amount grows -> more issued, the amount declines -> more redemption. You have to multiply the amount by -1, seeing how those are negative numbers, or inverse the comparison logic. 

You can get the values from the wallet_details call per each validated ledger, or parse the transaction stream and update the db accordingly. But the latter is waaaay harder. 

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