Stablecoin Conversion

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.

Endpoint Details

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

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

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
}

Parameters

Parameter	Type	Required	Description
sourceWalletId	string	Yes	The ID of your source wallet
destinationWalletId	string	Yes	The ID of your destination wallet
sourceNetwork	string	Yes	Source blockchain network
destinationNetwork	string	Yes	Destination blockchain network
sourceCurrency	string	Yes	Source stablecoin currency
destinationCurrency	string	Yes	Destination stablecoin currency
amount	number	Yes	Amount to convert

Supported Networks

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

Supported Stablecoins

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

Conversion Types

Same Currency, Different Network
Different Currency, Same Network
Different Currency, Different Network

Convert USDC from Ethereum to USDC on Solana

Fastest conversion type
Minimal fees
No currency exchange rate risk

Response

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"
}

Response Fields

Field	Type	Description
id	string	Unique conversion identifier
state	string	Conversion state (processing, completed, failed)
conversion_type	string	Type of conversion being performed
source	object	Source wallet and transaction details
destination	object	Destination wallet and estimated amounts
exchange_rate	object	Current exchange rate information
fees	object	Breakdown of all fees
estimated_completion	string	Estimated completion timestamp
transaction_hashes	object	Blockchain transaction hashes (when available)

Conversion Process

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

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

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

Conversion States

State	Description	Next Action
processing	Conversion is being executed	Monitor for completion
completed	Conversion successful	Check destination wallet
failed	Conversion failed	Check failure reason, retry
refunded	Failed conversion, funds returned to source	Funds back in source wallet

Fee Structure

Network Fees

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

Conversion Fees

Same currency conversions: 0.1% - 0.3%
Cross-currency conversions: 0.3% - 0.8%
Based on liquidity: Lower fees for high-liquidity pairs

Developer Fees

Standard rate: 0.8% of conversion amount
Calculated on source amount: Before other fees
Transparent pricing: No hidden fees

Exchange Rates

Real-Time Rates
Rate Protection
Rate Components

Exchange rates are fetched in real-time from multiple sources:

Major cryptocurrency exchanges
DeFi liquidity pools
Aggregated pricing feeds
Updated every 30 seconds

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
  }'

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

const response = await fetch('https://api.devdraft.ai/api/v0/transfers/stablecoin-conversion', {
  method: 'POST',
  headers: {
    'Content-Type': 'application/json',
    'x-client-key': 'your_client_key_here',
    'x-client-secret': 'your_client_secret_here'
  },
  body: JSON.stringify(conversionData)
});

if (!response.ok) {
  throw new Error(`HTTP error! status: ${response.status}`);
}

const conversion = await response.json();

// Monitor conversion progress
console.log('Conversion ID:', conversion.id);
console.log('Status:', conversion.state);
console.log('Estimated completion:', conversion.estimated_completion);
console.log('Total fees:', conversion.fees.total_fees);

import requests
import json

url = "https://api.devdraft.ai/api/v0/transfers/stablecoin-conversion"
headers = {
    'Content-Type': 'application/json',
    'x-client-key': 'your_client_key_here',
    'x-client-secret': 'your_client_secret_here'
}

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

response = requests.post(url, headers=headers, data=json.dumps(data))

if response.status_code == 201:
    conversion = response.json()
    
    print(f"Conversion ID: {conversion['id']}")
    print(f"Status: {conversion['state']}")
    print(f"Estimated completion: {conversion['estimated_completion']}")
    print(f"Total fees: {conversion['fees']['total_fees']}")
else:
    print(f"Error: {response.status_code}")
    print(response.text)

<?php
$data = [
    'sourceWalletId' => '550e8400-e29b-41d4-a716-446655440000',
    'destinationWalletId' => '660f9500-f30c-52e5-b827-557766551111',
    'sourceNetwork' => 'ethereum',
    'destinationNetwork' => 'solana',
    'sourceCurrency' => 'usdc',
    'destinationCurrency' => 'usdc',
    'amount' => 1000.50
];

$curl = curl_init();

curl_setopt_array($curl, [
    CURLOPT_URL => 'https://api.devdraft.ai/api/v0/transfers/stablecoin-conversion',
    CURLOPT_RETURNTRANSFER => true,
    CURLOPT_POST => true,
    CURLOPT_POSTFIELDS => json_encode($data),
    CURLOPT_HTTPHEADER => [
        'Content-Type: application/json',
        'x-client-key: your_client_key_here',
        'x-client-secret: your_client_secret_here'
    ],
]);

$response = curl_exec($curl);
$httpCode = curl_getinfo($curl, CURLINFO_HTTP_CODE);
curl_close($curl);

if ($httpCode === 201) {
    $conversion = json_decode($response, true);
    
    echo "Conversion ID: {$conversion['id']}\n";
    echo "Status: {$conversion['state']}\n";
    echo "Estimated completion: {$conversion['estimated_completion']}\n";
    echo "Total fees: {$conversion['fees']['total_fees']}\n";
} else {
    echo "Error: $httpCode\n";
    echo $response;
}
?>

Error Responses

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

{
  "statusCode": 404,
  "message": "Source wallet not found with ID: 550e8400-e29b-41d4-a716-446655440000",
  "error": "Not Found"
}

{
  "statusCode": 422,
  "message": "EURC is not supported on Arbitrum network",
  "error": "Unprocessable Entity"
}

Advanced Features

Batch Conversions

Convert multiple amounts in a single request
Optimize fees across multiple conversions
Atomic execution for related conversions

Scheduled Conversions

Set future execution times
Dollar-cost averaging strategies
Automated recurring conversions

Rate Alerts

Set target exchange rates
Automatic execution when rates hit
SMS and email notifications

Liquidity Management

Automatic rebalancing between networks
Optimize for lowest fees
Smart routing through best liquidity pools

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

Best Practices

Monitor Network Conditions

Check gas prices and network congestion before conversions

Consider Timing

Execute conversions during low-traffic periods for better rates

Use Rate Protection

Lock in favorable rates for time-sensitive conversions

Batch When Possible

Combine multiple conversions to reduce overall fees

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

Home

Payment Intents

Webhooks

Wallets

Transfers

Endpoint Details

Authentication

Request Body

Parameters

Supported Networks

Supported Stablecoins

Conversion Types

Response

Success Response (201 Created)

Response Fields

Conversion Process

1. Rate Quote and Validation

2. Cross-Chain Execution

3. Completion and Settlement

Conversion States

Fee Structure

Exchange Rates

Example Requests

Error Responses

Advanced Features

Use Cases

Portfolio Rebalancing

Arbitrage Opportunities

Gas Optimization

Multi-Currency Treasury

Cross-Border Payments

DeFi Strategy Execution

Best Practices

​Endpoint Details

​Authentication

​Request Body

​Parameters

​Supported Networks

​Supported Stablecoins

​Conversion Types

​Response

​Success Response (201 Created)

​Response Fields

​Conversion Process

​1. Rate Quote and Validation

​2. Cross-Chain Execution

​3. Completion and Settlement

​Conversion States

​Fee Structure

​Exchange Rates

​Example Requests

​Error Responses

​Advanced Features

​Use Cases

Portfolio Rebalancing

Arbitrage Opportunities

Gas Optimization

Multi-Currency Treasury

Cross-Border Payments

DeFi Strategy Execution

​Best Practices

​Related Endpoints

Endpoint Details

Authentication

Request Body

Parameters

Supported Networks

Supported Stablecoins

Conversion Types

Response

Success Response (201 Created)

Response Fields

Conversion Process

1. Rate Quote and Validation

2. Cross-Chain Execution

3. Completion and Settlement

Conversion States

Fee Structure

Exchange Rates

Example Requests

Error Responses

Advanced Features

Use Cases

Best Practices

Related Endpoints