FIAT Gateways Project Status Update

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Minotaur

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ATM INTEGRATION STATUS

MVP (current)





The current status of the Dash Lamassu integration can be considered a Minimum Viable Product or MVP. All of the functionality is there, and it is in use on at least one production machine. There are a few relatively minor bugs, and install scripts/instructions to write, but otherwise, it is ready for more deployments.

There are some known issues with this architecture. These are not easy to solve, as they go outside of the code and scope of Lamassu.

  1. As there are no known Dash wallet services available via API (ala Coinapult, bitgo), a Dash node must currently be run for each machine.

  2. As there are no good USD/DASH markets available (at least not on Poloniex, our first exchange plugin), operators are expected to have a supply of USDT (Tether).
While each of these can be overcome by a technically and financially capable machine operator, it is significantly more difficult than running a Bitcoin-only machine, which does not involve node operation, or finding a supply of a third party token.


Dedicated Dash Services





To address the issues indicated with the MVP architecture, a next generation of Dash services and components are being built as part of the access ramps project. After the services are complete, and the js client is ready, Lamassu plugins will need to be developed for each.

De Shared Wallet
The first to be completed is De Shared Wallet aka desw. Along with the desw-dash plugin, this service will make hot wallet, send and receive functionality available via API.

De Broker
The second component, still under construction, is De Broker. The MVP version of this service will provide guaranteed price conversions between BTC, DASH, and USD. The USD will be accessed via the Crypto Capital payment network.

Development efforts are currently focused on this and adapting the current implementation to the ongoing changes Lamassu is making right now to their structure described in the next section.

Lamassu Next Generation




Finally, we have Lamassu's upcoming changes of an unknown timeline. They haven't given us any special information, aside from that contained in the general schema above. Their next generation of software will not require the operator to host their own server component (lamassu-server), and we will have their cooperation in implementing Dash support via plugins or some appropriate code integration.

The Lamassu team has been working independently on a compatible implementation for ETH. We're in communication with the Lamassu team over this, but they are still actively working on this so there are some details still to be defined. Knowing it is a work in progress, already it seems they have chosen to go in a different direction for two key aspects: database structure and configuration method.

Without going into too much detail, the data structures differ superficially but in a way that would make upgrades and migrations tricky. This means all of the current plugins should be updated before use by third parties. We have made this a priority and are adapting the existing MVP Dash implementation to be compatible with the future changes in the database structure and avoid potential issues with operational Dash ATM machines once they are deployed.

We will publish install instructions for the MVP ATM integration once the new Lamassu database structure changes are completed which should happen in the next few days. A second release will follow soon after when the Dash dedicated services are ready. Please be mindful that Lamassu changing the database structure is outside of our control but is necessary to take into account before we encourage people to run the current implementation, if not there would be database issues when they make the changes.

Also, Lamassu is introducing a new command line configuration system which looks much friendlier than the admin panel which we had modified for Dash. They had barely updated the panel since 2014, so a new configuration system was overdue... Theoretically, either should be able to work with the same configuration data tables for the short term.


MARKET RAMPS


The next visible project scheduled for completion is DeShifty widget, which will connect to desw(hot wallet) and de-broker(broker) to provide an improved Shapeshift-like conversion experience including USD conversion. You can follow the project on github. (https://github.com/deginner/DeShifty)


The backend tools described in the dedicated Dash services section are also a critical part of this service:


De Shared Wallet
The first to be completed is De Shared Wallet aka desw. Along with the desw-dash plugin, this service will make hot wallet, send and receive functionality available via API.


De Broker
The second component, still under construction, is De Broker. The MVP version of this service will provide guaranteed price conversions between BTC, DASH, and USD. The USD will be accessed via the Crypto Capital payment network.

As you can see the different back-end tools being developed will come together to support different front end public facing services like ATMs, instant exchange widgets, etc.

Other necessary pieces are advancing at a good pace. Most significantly, Dash market making has been automated for the following exchanges: Poloniex, Exmo, Btc-e. In test market makers are contributing 5-10% of the global daily volume of trade on DASH/BTC and DASH/USD pairs, this is expected to increase as more services are moved into production. This is the market access and clearing ability that brokers, ATM operators and other Dash business users will require.

The DeShifty mini app has been redone with Dash branding, and is ready to plugin to the broker back-end. Some pre-requisite javascript clients and libraries are nearing completion, with only some polish and unit testing remaining for the DeShifty client to be ready.

While the exchange clients are good enough for basic trading, they aren't complete enough for the broker project to proceed, yet. It is expected that the exchange clients will be ready in one week, and the broker ready to plug in to DeShifty 3-5 days later. Of course, that will be a beta version, for advanced users.

It is worth mentioning that Node40 has volunteered to be one of the first public facing services testing FIAT access via the broker.

We will try to keep the community updated as we make progress, please let us know if there are any questions and thank you for the ongoing support you guys provide to the team.

@isysd
 

Ryan Taylor

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I think this makes it very clear the value we are getting here for the long term. The redirecting of funds from public awareness was a good call from the developers and community (who voted for the change). It is often tempting to fund the items with immediate payoff to the detriment of longer-term strategy. PA is definitely more short-term and immediate benefits, but these fiat access investments will provide ongoing benefit for the next several years and are essential service infrastructure for the network. I'm glad to see the wise decision-making... and the rapid progress!
 

isysd

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Dec 23, 2015
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Thanks for digesting and writing this update, @Minotaur! It is an accurate picture of where we are, and where we're going in terms of systems.

On a business front, I'd like to add that we've convinced two reputable exchanges to integrate Dash through our platform. I don't have their permission to discuss in public, but work is beginning behind the scenes. Additionally, we've had great success automating access to the existing Dash exchange infrastructure. The most significant work is done in the poorly named bitcoin_exchanges package. This is currently under active development, so watch for additional exchange and feature support in coming days.
 

jpr

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May 11, 2014
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Thanks for digesting and writing this update, @Minotaur! It is an accurate picture of where we are, and where we're going in terms of systems.

On a business front, I'd like to add that we've convinced two reputable exchanges to integrate Dash through our platform. I don't have their permission to discuss in public, but work is beginning behind the scenes. Additionally, we've had great success automating access to the existing Dash exchange infrastructure. The most significant work is done in the poorly named bitcoin_exchanges package. This is currently under active development, so watch for additional exchange and feature support in coming days.
You cannot say what exchanges they are but I bet you can tell us what they are not :D
Come on bud just tell us Huobi is NOT one of them :)
 
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kot

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I will do my best to contact Ira and Daniel and submit a status update after my return from vacation (next week).
 

Minotaur

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Any luck?
Hi Oaxaca, we recorded a video update on different topics including this. Amanda published it today.

And yes we all met today to review status of the project as we do every Wednesday. Robert was on vacation for a few weeks but he is finally back with us and based on the meeting today we are working on a new written report that should come out soon when it is ready, I think by next week.
 
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