We have fiat tether tokens that we issued, each token is backed up by an equivalent amount on our bank account, currently we are able to switch between one tether into another using our own exchange for example, You can send USD(T) and get an equivalent amount in UGX(T), so calculate the exchange rate and send an equivalent to the recipient wallet, what I would like to happen is to be able to do this using the SDEX where by you can send buy orders and sell orders and do the conversion automatically. The problem I have been having is that with SDEX you have to set the buy price or sell price yet I would have wanted to get the current market price(Forex) eg the current price of USD->UGX not by the orders set. I tried looking at Kelp but seems too complicated, Any suggestions?
1 Answer
happy to answer any questions you have around Kelp (developer of Kelp here). Have you taken a look at the Kelp walkthroughs such as how to make markets for stablecoins?
