The article describing assets (https://www.stellar.org/developers/guides/concepts/assets.html) is pretty clear and well written. However it doesn't cover a few very import questions.
- How to issue an virtual asset? What REST API methods should be used?
- How to specify the amount of circulating asset? How to change overall circulating amount in the future (provide some additional asset inflation)?
- Which account is responsible for holding the trustline reserve for freely transferable assets?
I'll try to provide some basic example to explain the concerns.
Imagine that I want to create an asset backed by some real value (for example, 1 OIL = 1 barrel of oil futures). How can I limit the overall amount of virtual OIL coins to match available real oil supply? Can I set the asset divisibility (for example, I want to trade only the whole oil barrels, no the 0.000001 of barrel)?
When someone purchases 1 OIL on my best-oil-for-everyone.com website the trustline between the issuing account and the client account is established. As far as I understand from the docs, the issuing account need to hold 10 XLM to maintain this trustline while the client holds purchased 1 OIL (for a lifetime in case if client won't sell it back to me).
Let's imagine that my client sends 0.001 OIL to 1000 other accounts. Therefore each destination account establishes trustline with the issuing account (anchor), so the anchor needs to hold 1000x10 = 10 000 XLM reserve to maintain trustlines, otherwise transactions will be blocked.
Am I right about the trustline mechanics? And what if someone will decide to split virtual 1 OIL between 1000000 accounts?
I am building app on the NEM platform but Stellar looks far more attractive in terms of fees and transaction confirmation speed. I'd like to move to Stellar, but I need to clarify all the caveats first.
Thanks in advance.