Introducing COINQVEST's Tier 1 Bitcoin and Litecoin SEP-6 Transfer Service on the Stellar Network

COINQVEST has been a long-standing Tier-1 validator, Horizon operator, contributor, and service provider on Stellar. Today we're excited to announce that we're doubling down on our involvement with the Stellar Network and our engagement with the Stellar ecosystem overall.

We're pleased to introduce the first enterprise grade Tier-1 SEP-6 transfer service for Bitcoin and Litecoin tokenization and detokenization on Stellar. While the service is geared towards commercial applications, fintechs, wallets, exchanges, and other types of businesses, it is open, permissionless, and available to everyone.

Getting Started

COINQVEST's SEP-6 transfer service enables you to tokenize (deposit) and detokenize (withdraw) Bitcoin and Litecoin on the Stellar Network. Access it programmatically or easily make deposits and withdrawals using our web interface in your browser.

COINQVEST's Assets

In the context of SEP-6, assets are digital (tokenized) representations of anything of value on the Stellar Network. They are typically backed by fiat or crypto- currencies. COINQVEST currently issues assets for Bitcoin and Litecoin and we're building more on Stellar's Soroban smart contracts platform.

Transparency

COINQVEST's SEP-6 transfer server is transparent and all transactions are auditable. We publish circulating supply, hot wallet addresses, cold wallet addresses, accounts, blockchain transaction ids, and balances so you can always have peace of mind about the whereabouts of the underlying assets. Custodial funds never leave our hot or cold wallets for any purpose other than SEP-6 transfers.

Developers

The COINQVEST SEP-6 transfer server lives at sep6.coinqvest.com, is documented here, and you can communicate with it by sending simple HTTP GET requests and reading responses. In order to interact with it, you need a REST client in your favorite programming language (we published one for PHP, NodeJS, and Ruby) or a tool like cURL or wget.

Trustlines

In order to trade, receive, or hold COINQVEST assets on the Stellar network you must first establish a trustline with the issuing account. We've explained and documented the process for your convenience.

Liquidity Pools

Healthy liquidity on the Stellar Decentralized Exchange is challenging, but vital to the success of COINQVEST as a platform and its assets within the wider Stellar ecosystem. A significant TVL (total value locked) on the COINQVEST liquidity pools is the backbone for providing payment processing services, currency exchange, and settlement of funds for our merchants and clients in particular and other participants on the Stellar Network in general.

We are providing liquidity within our abilities but hope for your participation and support. To help you get up and running we documented the process of participating in COINQVEST liquidity pools and provided links to additional resources.

Market Makers and Arbitrageurs

COINQVEST's assets are built into the COINQVEST payment processing platform and provide an organic way to drive traffic to liquidity pools and generate conversion fees and create arbitrage opportunities. If you are a market maker or arbitrageur we would love to work with you. Read our liquidity pool documentation or contact us to get started.

Service Level

When we say "enterprise grade," we mean it. COINQVEST's SEP-6 assets are built-in payment rails on the COINQVEST payment processing platform and we provide the same quality service level agreement for our SEP-6 transfer server as for all our services. Our merchants and clients need a product that just works and so do you.

If you are familiar with COINQVEST's platform or Tier-1 validator history on Stellar, then you might be aware of our track record of working meticulously to maintain flawless up-time, instant incidence response, and fast resolution times. SEP-6 transfer operations are redundant, monitored 24/7 by our NOC team, and equipped with a high-availability service level agreement (SLA) of 99.99%.

What's Next? Soroban and Smart Contracts

The Soroban smart contracts platform opens the door to more truly decentralized approaches of tokenizing and detokenizing assets on the Stellar Network. Imagine a world where you don't have to trust a third party anymore to provide safe and robust custody of underlying tokenized funds. Yes, COINQVEST gets the job done with SEP-6, but wouldn't it be better to only trust fully auditable and immutable code to bridge assets on and off the network? Bridging ETH and relevant ERC-20 assets on Ethereum is our next milestone.

Follow us on Keybase and Twitter to stay tuned.