Hey everyone,
I've launched live today new BTC anchor https://btc.papayame.com
There is also testnet version on https://tbtc.papayame.com if you want to play with it. Let me know if you have any feedback.

UPDATE 25.07
Added LTC anchor https://ltc.papayame.com, works exactly the same way as BTC version.
There is also testnet version on https://tltc.papayame.com, which I couldn't properly test, because couldn't find working faucets

Main reason why I had to build that:

I needed support for federation/memo when you deposit BTC to make it usable for wallets/systems, which have single account for all users. naobtc.com doesn't provide that functionality at the moment.

Less important features include:

  • batching withdrawal transactions together within 1 min (hopefully one day we have many transactions and that can save everyone some mining fees)
  • Support for incoming and outgoing BitGo instant transactions (if we have enough balance - transaction will be sent as instant), so participating parties, like exchanges may recognize it immediately.

Here's how the process looks like:

  1. Get Bitcoin address for deposit using form on the website

get bitcoin address
or GET/POST request to https://btc.papayame.com/deposit?account_id=GCKYSFFNJXYU43RQWNR7QZS23AUBURR7QTF2TOXXKFEU4OC5MN7CCYDV&memo_type=text&memo=umbrel

  1. Send BTC to provided address

send btc

  1. Watch your BTC landed to your Stellar address

receive btc in stellar

  1. Send BTC back to Bitcoin address

send back to btc address
transaction in stellar

  1. Watch it coming in

receive btc

Please, send me your feedback and ask me anything if you need help integrating it into a wallet or any other service. Cheers!

11 days later

So the deposit worked as expected, very quick.
However, been waiting for the withdrawal for about 10minutes. Can this be because you batch payouts?
Also the btc address I used for withrawal is not the same as I used for the deposit. Is this an issue?
By the way this was on test net.
On a general note, I have been wondering how to streamline the process of moving other assets into the stellar network. IMO there seems to be a number of moving parts. Do you have any thoughts on this?

no, batch payouts only slow it down by 1 min.
It's actually an issue with BitGo test environment. For some reason some transactions just never go through, even though there is enough fee. @sacarlson had the same issue and his transactions from June still show up stuck in BitGo
bitgo screenshot

DIfferent address is not an issue.
I'm checking with support. On production environment I haven't noticed anything similar, works as expected.

I'm in the process of making few more anchors, using the same/similar code. To make it simple in my wallet I do this request to /deposit endpoint for the user, so they just generate Bitcoin address and receive BTC to their Stellar account. Sending is the same, you just put address, and wallet does the rest behind the scenes.

However for ethereum it becomes more complicated, you actually need to prove address ownership first or use smart contract. Would be nice to have some ethereum wallet implementing that for their users.

Hey umbrel okay was just following the instructions on the site, didnt mention anything about a memo, or maybe I missed it. Either way it will be good to have the steps clearly outlined on the site. Hand-holding might be required for newbies to stellar.
Will keep on testing and let you know if I find any other thing. Interested to see what you do with ethereum

      kratos_ng Hey, actually it should be handled by a wallet, but I guess if you send transaction manually - then yeah, you need to understand that when you call /federation?q=1BitcoinAddress*btc.papayame.com, it gives you back account, memo_type and memo, which you include into transaction.

          Hey umbrel I think I found out why I couldn't get the memo for your test setup.
          The URL of the federation server in your stellar.toml doesn't resolve
          I tried https://test-btc.papayame.com/federation?type=name&q=2N3yMUdNwmh6UAkcVVoYBYDSo86FH1xHm9G*tbtc.papayame.com

          and didn't get a response.
          However this gave me a response: https://tbtc.papayame.com/federation?type=name&q=2N3yMUdNwmh6UAkcVVoYBYDSo86FH1xHm9G*tbtc.papayame.com

          I think the federation server url in the stellar.toml should be https://tbtc.papayame.com/federation

          The production stellar.toml seems fine.

              umbrel changed the title to New BTC,LTC anchors: btc.papayame.com & ltc.papayame.com are now live .

              Cool are you going to make an ethereum one?

                jed I'm currently testing the one with erc20 tokens, still a bit unstable on withdrawal side. It doesn't include ethereum itself right now, but it will be easy to add it too.

                  17 days later
                  2 years later