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wip fix links fix 2 links trim and add topics Add checklist, rename sc subtopics Fix internal links Add DEX/AMM Add graphics reorg files reorg/rename Fix blurb Remove old JA files edits per review review changes rename output file name of index files to match the folder name Update output file and parent filenames add reusable links snippet fix broken links Update Ja file Move path.md to same location in i18n folder Revert naming for nft-collections page Rename to match files in En and Ja update links to reflect updated file name Rename nft-auctions under Ja folder and update links throughout Rename nftoken-authorized-minting and update links throughout Fix links Rename the nft-fixed-supply Ja file to match the reorg in English and update links Move nft-reserve-requirements file in Ja and update links Fix some more broken links Fix more broken links by renaming html files back Stablecoin reorg: fix various issues Remove nfts_by_issuer method (unreleased) page Remove redundant parent: attrs from config file Fix syntax highlighting of Authorizing Another Minter js Fix config/frontmatter errors
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html, parent, blurb, labels
| html | parent | blurb | labels | |
|---|---|---|---|---|
| stablecoin-precautions.html | stablecoins.html | Precautions to consider when transferring stablecoin funds in and out of the XRPL. |
|
Stablecoin Precautions
Processing payments to and from the XRP Ledger naturally comes with some risks, so an issuer should be sure to take care in implementing these processes. As a stablecoin issuer, you should consider the following precautions:
- Protect yourself against reversible deposits. XRP Ledger payments are irreversible, but many digital payments are not. Scammers can abuse this to take their fiat money back by canceling a deposit after receiving tokens in the XRP Ledger.
- When sending into the XRP Ledger, always specify your issuing address as the issuer of the token. Otherwise, you might accidentally use paths that deliver the same currency issued by other addresses.
- Before sending a payment into the XRP Ledger, double check the cost of the payment. A payment from your operational address to a customer should not cost more than the destination amount plus any transfer fee you have set.
- Before processing a payment out of the XRP Ledger, make sure you know the customer's identity. This makes it harder for anonymous attackers to scam you. Most anti-money-laundering regulations require this anyway. This is especially important because the users sending money from the XRP Ledger could be different than the ones that initially received the money in the XRP Ledger.
- Follow the guidelines for reliable transaction submission when sending XRP Ledger transactions.
- Robustly monitor for incoming payments, and read the correct amount. Don't mistakenly credit someone the full amount if they only sent a partial payment. See Robustly monitoring for payments.
- Track your obligations and balances within the XRP Ledger, and compare with the assets in your collateral account. If they do not match up, stop processing withdrawals and deposits until you resolve the discrepancy.
- Avoid ambiguous situations. We recommend the following:
- Enable the
Disallow XRPflag for the issuing address and all operational addresses, so customers do not accidentally send you XRP. (Private exchanges should not set this flag, since they trade XRP normally.) - Enable the
RequireDestflag for the issuing address and all operational addresses, so customers do not accidentally send a payment without the destination tag to indicate who should be credited. - Enable the
RequireAuthflag on all operational addresses so they cannot issue tokens by accident.
- Enable the
- Monitor for suspicious or abusive behavior. For example, a user could repeatedly send funds into and out of the XRP Ledger, as a denial of service attack that effectively empties an operational address's balance. Suspend customers whose addresses are involved in suspicious behavior by not processing their XRP Ledger payments.