Redeeming Stablecoins

ERC20 aTerra tokens (e.g. aUST) can be redeemed to ERC20 stablecoins using the below endpoints:

Endpoint	Method	Description
init_redeem_stable	POST	Initiates the redemption of ERC20 aTerra
finish_redeem_stable	POST	Claims redeemed ERC20 stablecoins
redeem_stable_status	GET	Gets status of an ongoing stablecoin redemption request

Initiate stablecoin redemption

POST https://eth-api.anchorprotocol.com/api/v1/init_redeem_stable

POST /api/v1/init_redeem_stable allows you to fabricate an unsigned Ethereum Tx payload that initiates a stablecoin redemption request. The client can sign and broadcast the resulting Tx payload with their Ethereum account key, or use a custodian API that supports the signing of a raw Tx payload. Note that only one init_redeem_stable operation can take place at the same time; even if you successfully broadcast the resulting Tx to the network, the EthAnchor Account contract will block any subsequent operations until an ongoing stablecoin redemption is finished with finish_redeem_stable.

Headers

Name	Type	Description
Authentication	string	Anchor client key.

Request Body

Name	Type	Description
underlying_denom	string	Underlying stablecoin denomination of aTerra to redeem from Anchor. Example: "uusd"
a_terra_amount	string	(uint256) amount of aTerra to redeem from Anchor in 18 decimals. If empty, redeems all aTerra holdings.

200 init_redeem_stable unsigned Tx hash.

{
    "success": true,
    "tx_hash": "0x......",
    "action": "anchor/init_redeem_stable",
    "underlying_denom": "uusd", 
    "a_terra_amount": "500000000"
}

401 You are not authorized to call this endpoint; client not registered.

{
    "success": false,
    "error": "unauthorized; client not registered"
}

Finish stablecoin redemption

POST https://eth-api.anchorprotocol.com/api/v1/finish_redeem_stable

POST /api/v1/finish_redeem_stable allows you to finish a previously requested redeem_stable operation. This endpoint returns an unsigned Ethereum transaction payload. You can sign this transaction yourself and send to the network, or broadcast using any custodian API that supports signing a raw Tx payload.

Headers

Name	Type	Description
Authentication	string	Anchor client key.

200 finsish_redeem_stable unsigned Tx hash.

{
    "success": true,
    "tx_hash": "0x......",
    "action": "anchor/finish_redeem_stable"
}

401 You are not authorized to call this endpoint; client not registered.

{
    "success": false,
    "error": "unauthorized; client not registered"
}

Check stablecoin redemption status

GET https://eth-api.anchorprotocol.com/api/v1/redeem_stable_status

GET /api/v1/redeem_stable_status allows you to check the status of an ongoing redeem_stable operation. You may want to periodically check the progress of your redeem_stable request, since an operation may take up to minutes to finish due to congestion on either side of the networks. Note that status being "finished" does NOT mean you have run a full cycle of redeem_stable operation; you still need to send another transaction from POST /api/v1/finish_redeem_stable to finalize your operation.This endpoint responds with HTTP 204 when there is no ongoing operation.

Headers

Name	Type	Description
Authentication	string	Anchor client access key.

200 Current status of ongoing redeem_stable operation.

{
    // Phase
    // 0 - (Ethereum) wrapper contract has received aTerra tokens (e.g. aUST) and 
    //     dispatched through Shuttle
    // 1 - (Terra) terra-side client account has received aTerra tokens
    //     triggering RedeemStable soon
    // 2 - (Terra) RedeemStable action is processed and stablecoins (e.g. UST) have
    //     been received
    // 3 - (Terra) stablecoins are sent to the ether-side wrapper contract
    //     through Shuttle
    // 4 - (Ethereum) contract has received stablecoins; operation finished
    "phase": 0,

    // LastUpdated
    // Unix timestamp at which the last update to this response has been made
    "last_updated": 1608662606,

    // Status
    // Operation status
    // pending   - operation in flight
    // failed    - operation failed; last known tx has been recorded
    // finished  - operation finished; you can call /finish_redeem_stable
    "status": "pending",

    // UnderlyingDenom
    // Underlying denomination of aTerra tokens to be redeemed
    "underlying_denom": "uusd", 

    // aTerraAmount
    // amount of aTerra tokens to be redeemed
    "a_terra_amount": :20000000:,

    // TxHash
    // List of known tx hashes and the corresponding network name
    "tx_hash": [
        {
            "network": "ethereum",
            "tx_hash": "0x...."
        },
        {
            "network": "terra",
            "tx_hash": "00ABCD..."
        },
        ...
    ]
}

204 No ongoing redeem_stable operation.

{
    "status": "idle"
}