The Stablecoin Conversion endpoint enables you to convert between different stablecoins across various blockchain networks. This endpoint handles cross-chain conversions, currency exchanges, and network transfers seamlessly through Devdraft’s unified infrastructure.

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Endpoint Details

  • Method: POST
  • URL: /api/v0/transfers/stablecoin-conversion
  • Content-Type: application/json

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Authentication

This endpoint requires API key authentication using both:
  • x-client-key: Your application’s client key
  • x-client-secret: Your application’s client secret

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Request Body

{
  "sourceWalletId": "550e8400-e29b-41d4-a716-446655440000",
  "destinationWalletId": "660f9500-f30c-52e5-b827-557766551111",
  "sourceNetwork": "ethereum",
  "destinationNetwork": "solana",
  "sourceCurrency": "usdc",
  "destinationCurrency": "usdc",
  "amount": 1000.50
}

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Parameters

ParameterTypeRequiredDescription
sourceWalletIdstringYesThe ID of your source wallet
destinationWalletIdstringYesThe ID of your destination wallet
sourceNetworkstringYesSource blockchain network
destinationNetworkstringYesDestination blockchain network
sourceCurrencystringYesSource stablecoin currency
destinationCurrencystringYesDestination stablecoin currency
amountnumberYesAmount to convert

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Supported Networks

  • Ethereum (ethereum)
  • Solana (solana)
  • Base (base)
  • Polygon (polygon)
  • Arbitrum (arbitrum)
  • Optimism (optimism)
  • Avalanche C-Chain (avalanche_c_chain)

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Supported Stablecoins

  • USDC (usdc) - Available on all networks
  • EURC (eurc) - Available on Ethereum, Solana
  • USDT (usdt) - Available on Ethereum, Polygon, Avalanche

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Conversion Types

Convert USDC from Ethereum to USDC on Solana
  • Fastest conversion type
  • Minimal fees
  • No currency exchange rate risk

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Response

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Success Response (201 Created)

{
  "id": "tc_1234567890abcdef",
  "state": "processing",
  "conversion_type": "cross_chain_conversion",
  "source": {
    "wallet_id": "550e8400-e29b-41d4-a716-446655440000",
    "network": "ethereum",
    "currency": "usdc",
    "amount": "1000.50",
    "address": "0x742d35Cc6Ff82a8C2D8D1Da9da17c7eDfD5bE0a3"
  },
  "destination": {
    "wallet_id": "660f9500-f30c-52e5-b827-557766551111",
    "network": "solana",
    "currency": "usdc",
    "estimated_amount": "998.75",
    "address": "7xKXKRoBrJgCXVb2KhxZZzPHxYMJ4DpHWGQ8RvxS6JEq"
  },
  "exchange_rate": {
    "rate": "1.0000",
    "source_currency": "usdc",
    "destination_currency": "usdc",
    "rate_expires_at": "2024-01-20T10:35:00Z"
  },
  "fees": {
    "network_fee_source": "2.50",
    "network_fee_destination": "0.01",
    "conversion_fee": "0.8",
    "developer_fee": "8.00",
    "total_fees": "11.31"
  },
  "estimated_completion": "2024-01-20T10:33:00Z",
  "transaction_hashes": {
    "source_tx": null,
    "destination_tx": null
  },
  "created_at": "2024-01-20T10:30:00Z",
  "updated_at": "2024-01-20T10:30:00Z"
}

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Response Fields

FieldTypeDescription
idstringUnique conversion identifier
statestringConversion state (processing, completed, failed)
conversion_typestringType of conversion being performed
sourceobjectSource wallet and transaction details
destinationobjectDestination wallet and estimated amounts
exchange_rateobjectCurrent exchange rate information
feesobjectBreakdown of all fees
estimated_completionstringEstimated completion timestamp
transaction_hashesobjectBlockchain transaction hashes (when available)

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Conversion Process

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1. Rate Quote and Validation

When you submit a conversion request:
  • System validates wallet ownership and balances
  • Retrieves current exchange rates (if needed)
  • Calculates all fees and estimated amounts
  • Reserves funds from source wallet

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2. Cross-Chain Execution

For cross-chain conversions:
  • Initiates withdrawal from source network
  • Routes through Devdraft’s liquidity pools
  • Executes currency conversion (if needed)
  • Deposits to destination network

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3. Completion and Settlement

Once conversion completes:
  • Funds appear in destination wallet
  • Transaction hashes are recorded
  • Conversion receipt is generated
  • State is updated to completed

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Conversion States

StateDescriptionNext Action
processingConversion is being executedMonitor for completion
completedConversion successfulCheck destination wallet
failedConversion failedCheck failure reason, retry
refundedFailed conversion, funds returned to sourceFunds back in source wallet

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Fee Structure

  • Source network fee: Gas/transaction fee on source blockchain
  • Destination network fee: Gas/transaction fee on destination blockchain
  • Variable by network: Ethereum fees higher than Solana
  • Same currency conversions: 0.1% - 0.3%
  • Cross-currency conversions: 0.3% - 0.8%
  • Based on liquidity: Lower fees for high-liquidity pairs
  • Standard rate: 0.8% of conversion amount
  • Calculated on source amount: Before other fees
  • Transparent pricing: No hidden fees

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Exchange Rates

Exchange rates are fetched in real-time from multiple sources:
  • Major cryptocurrency exchanges
  • DeFi liquidity pools
  • Aggregated pricing feeds
  • Updated every 30 seconds

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Example Requests

curl -X POST "https://api.devdraft.ai/api/v0/transfers/stablecoin-conversion" \
  -H "Content-Type: application/json" \
  -H "x-client-key: your_client_key_here" \
  -H "x-client-secret: your_client_secret_here" \
  -d '{
    "sourceWalletId": "550e8400-e29b-41d4-a716-446655440000",
    "destinationWalletId": "660f9500-f30c-52e5-b827-557766551111",
    "sourceNetwork": "ethereum",
    "destinationNetwork": "solana",
    "sourceCurrency": "usdc",
    "destinationCurrency": "usdc",
    "amount": 1000.50
  }'

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Error Responses

{
  "statusCode": 400,
  "message": "Insufficient balance in source wallet",
  "error": "Bad Request"
}

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Advanced Features

  • Convert multiple amounts in a single request
  • Optimize fees across multiple conversions
  • Atomic execution for related conversions
  • Set future execution times
  • Dollar-cost averaging strategies
  • Automated recurring conversions
  • Set target exchange rates
  • Automatic execution when rates hit
  • SMS and email notifications
  • Automatic rebalancing between networks
  • Optimize for lowest fees
  • Smart routing through best liquidity pools

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Use Cases

Portfolio Rebalancing

Automatically rebalance stablecoin holdings across networks

Arbitrage Opportunities

Take advantage of price differences between networks

Gas Optimization

Move funds to networks with lower transaction fees

Multi-Currency Treasury

Manage treasury across different stablecoins and networks

Cross-Border Payments

Convert currencies for international transactions

DeFi Strategy Execution

Position funds across networks for DeFi opportunities

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Best Practices

1

Monitor Network Conditions

Check gas prices and network congestion before conversions
2

Consider Timing

Execute conversions during low-traffic periods for better rates
3

Use Rate Protection

Lock in favorable rates for time-sensitive conversions
4

Batch When Possible

Combine multiple conversions to reduce overall fees
5

Monitor Completion

Use webhooks to track conversion progress automatically
  • GET /api/v0/wallets - List your Devdraft wallets
  • GET /api/v0/transfers/{id} - Check conversion status
  • GET /api/v0/exchange-rates - Get current exchange rates
  • POST /api/v0/transfers/direct-wallet - Create wallet-to-wallet transfer