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Stellar Quests Level 1: Guide

Quests L1

Level 1, in the Stellar Quests, was all about Payment Operations. These operations were: Create Account, Payment, Change Trust, Manage Offers, and Path Payments. We are guided through each of these in this order, and each step takes us further into the Stellar galaxy. Let's briefly overview each payment operation.

Create Account

This operation allows one to instantiate an account on the Stellar network. We can either instantiate the account with a starting amount of 0 or more. The base reserve for an account to exist is 1 Lumen ($XLM).

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This operation allows one to send the native asset Lumen ($XLM), or a custom asset directly to a destination account on the Stellar network. The amount sent must be greater than 0, and cannot cause the account to go below its reserve minimum.

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Change Trust

This operation allows one to establish a trustline with the issuer account, of a custom asset, on the Stellar network. One can set a limit on the amount their willing to trust. Calling this operation again, after getting rid of the entire balance of the custom asset, with the amount their willing to trust at 0 will remove the trustline entirely.

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Manage Offers

This operation allows one to make an exchange between two assets on the Stellar network's native decentralized exchange. There are three operations under this belt: Manage Buy Offer, Manage Sell Offer, and Passive Buy Offer. All offers require that you sell one asset for another, but are different based on functionality or intention. In both Manage Buy and Sell Offers, we are putting up X amount of an asset for X amount of another asset; this operation executes immediately. Passive Buy Offer is unique in that it doesn't execute immediately on existing offers in the DEX (decentralized exchange); instead, it waits for new buy or sell offers. Side note, Passive Offers may be used to create a stable balance (zero spread) between two equal assets, and thus are common with stable coins.

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Payment Paths

This operation allows one to send X amount of an asset (A) and have it arrive to the destination as X amount another asset (B) by hopping through 1-n offers on Stellar network's DEX (decentralized exchange). There are two operations under this belt: Path Payment Strict Send, and Path Payment Strict Receive. Strict Send will guarantee that the sender doesn't send any less or more of a chosen amount of asset A; the receiver may suffer some losses due to exchange rates. Strict Receive will guarantee that the receiver doesn't receive any less or more of a chosen amount of asset B; the sender may have to send more due to exchange rates.

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I plan on writing corresponding blog posts with relevant code examples. For now, I'm simply learning the basics of the Stellar blockchain and utilizing the Stellar Laboratory in order to interact with the test net. If you wish to learn about the Stellar blockchain, and earn while doing it, then please visit:

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