[Steemiex] A new Gateway that's bridging Steem into RCL

[ripplerm]

 

[Update (15-Dec-2017)] The gateway had discontinued its operation.

 

• RCL Issuing Address: rKYyUDK7N4Wd685xjfMeXM9G8xEe5ciVkC
• RCL Operating Address: r3dpA9FBczceWTWh4FRquuSvEVaQyU3GNg
• Steem Account: steemiex
• Currencies: STM, SBD.

 

Steemiex is the first gateway on Ripple-network that's fully operating with M-of-N multi-sig accounts.

All deposits and withdrawals are fully-automated, co-managed by five signer-nodes (on 3-of-5 multi-signature setting) deployed at five different location across US, Europe, and Asia.

==============================================================================

How to Deposit from Steem-blockchain into RCL

1. Make sure you had set sufficient trustlimit to Steemiex issuer: 

    rKYyUDK7N4Wd685xjfMeXM9G8xEe5ciVkC

 

2. Login to your Steem wallet, transfer some STEEM or SBD to @steemiex, attaching your ripple account in memo.

a destination-tag could be specified following the ripple account, separated with a comma or space, 

(e.g. r3DuKhPk9mCnYyMn449TitkDskPpNT7rWY 12345)

 

Deposits will be processed once the block containing it become irreversible (typically took about one-minute).

 

Minimum Deposit Amount

1.000 SBD or 1.000 STEEM.  Any amount smaller that these will be completely ignored by Steemiex gateway.

 

Bounced Deposit

In the cases where a deposit failed, the same amount (less fee) will be bounced back immediately to the original Steem account. 

Possible causes of failure: 

• invalid ripple account or destination-tag in memo field
• absence of trustline, or insufficient trust-limit on RCL

 

==============================================================================

How to Withdraw from RCL to Steem-blockchain

Any withdrawal of STM or SBD must be sent to the operating account (hotwallet):

  r3dpA9FBczceWTWh4FRquuSvEVaQyU3GNg

* Do NOT send any STM or SBD to Steemiex's issuing address!

 

There are two methods of specifying a Steem account as withdrawal destination:

• stating your Steem account in transaction memo,
• stating your Steem account-Id in destination-tag.

If both memo and destination-tag present in a transaction, destination-tag will overwrite.

 

Withdrawal with Steem-Account in Memo

The following steps assume you're using ripplerm-wallet:

1. Switch the Wallet account to your own address, and set the associated secret-key.
2. Go to Payment tab.
3. Fill the form:
   • Recipient: r3dpA9FBczceWTWh4FRquuSvEVaQyU3GNg
   • Destination Tag: (just leave it blank)
   • Memo: a Steem account that you like to withdraw to.
   • Amount: the amount and currency to be withdrawn.
4. Select a payment option, click Submit.

 

Withdrawal with Steem-Account-Id in Destination-tag

First, check your Steem account ID at https://steemd.com [/@your-account-name].
The account-id could be found on the upper-left corner on your account page:

 

For those who are using Gatehub Wallet:

1. Login to your wallet.
2. Go to Wallet tab, and Send Payment.
3. Fill the form:
   • Send to: r3dpA9FBczceWTWh4FRquuSvEVaQyU3GNg
   • click Add DT, enter your Steem Account-id into Destination Tag field.
   • Amount: the amount and currency you would like to withdraw.
4. Select a pay option, then click Next step.

 

For users of xrp-chat Desktop Wallet:

1. Login to your wallet.
2. Select Send tab.
3. Fill the form:
   • Recipient: r3dpA9FBczceWTWh4FRquuSvEVaQyU3GNg
   • click show destination tag, enter your Steem Account-id in the box.
   • Amount: amount you would like to withdraw.
   • Currency: enter STM for STEEM, or SBD for Steem-Backed-Dollar.
4. Select a send option, then click Confirm.

 

Minimum Withdrawal Amount

1.000 SBD or 1.000 STEEM. Any amount smaller that these will be ignored completely by Steemiex gateway.

Bounce Withdrawal

If an invalid destination-tag or Steem account was provided, the withdrawal amount (less fee) will be bounced back to the original ripple account immediately.

 

==========================================================================

Fee

As an anti-spam measure, a minimal fee of 0.010-STEEM or 0.010-SBD will be charged on each deposit and withdrawal.

 

 

Edited December 16, 2017 by ripplerm

[ripplerm]

Trading STM or SBD on Ripple-network

To trade STM or SBD, you must add the trade-pair (market) into your wallet apps.

For users of Gatehub wallet, you can add STM or SBD by following this guide:
[Steemiex Guide] Adding New Currency-Pair (Market) in Gatehub-wallet

For those using ripplerm-wallet, a general trading guide is available at:
[Ripple-Wallet Guide] Trading / Exchange

Edited June 9, 2017 by ripplerm

[tulo]

Questions :

• What are STM and SBD?
• How deposit/withdrawal are automated if 3 accounts need to sign?
• Who is/are the owner(s) of the 5 accounts?

[ripplerm]

7 minutes ago, tulo said:

Questions :

• What are STM and SBD?
• How deposit/withdrawal are automated if 3 accounts need to sign?
• Who is/are the owner(s) of the 5 accounts?

What are STM and SBD?

these are IOU symbols representing STEEM and STEEM-backed-dollar. They are tokens on Steem blockchain.

For more info, visit: steem.io or steemit.com

 

How deposit/withdrawal are automated if 3 accounts need to sign?

All signers will be constantly monitoring both RCL and Steem blockchain, and publish their signature on RCL network (via txn memo).

technical detail: https://github.com/ripplerm/steemiex-node/blob/master/docs/workflow.md

 

Who is/are the owner(s) of the 5 accounts?

Currently all the five validators are owned and operated by me. 

Anybody who likes to join the validator list are welcomed. I truely wish that the gateway could become decentralized in future, co-managed by different parties from different background/regions. (RCL support up to 8-signers for multi-sig)

The codes of my validator-node is open-source: https://github.com/ripplerm/steemiex-node

[gforce]

@ripplerm this is great steem users will soon stop converting to btc and change to xrp so much faster.