Orchestration provides a seamless interface for converting between fiat and stablecoins, enabling businesses to integrate these transitions effortlessly into their platforms. This module supports flexible flows that abstract the complexities of provider-specific implementations.

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On-Ramp process

The On-Ramp process enables customers to convert fiat currency into stablecoins, which are then deposited into their designated wallets.
Overview:
  1. Customer request:
    • The client initiates an on-ramp request by specifying:
      • Customer details
      • Exchange rate
      • Desired stablecoin
      • The fiat amount to be converted
    • Lumx validates the request and prepares the necessary transaction details.
  2. Payment generation:
    • Lumx generates a payment instruction (e.g., Pix code or similar) and provides it to the customer for fiat payment.
    • A transaction is created with the status awaiting_payment.
  3. Payment confirmation:
    • Once the customer completes the payment, Lumx receives a confirmation (via webhook or provider notification).
    • The transaction status is updated to funds_received.
  4. Stablecoin delivery:
    • Lumx transfers the specific stablecoin to the customer’s designated wallet.
    • The transaction is finalized with the status success upon confirmation of the transfer on the blockchain.

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Off-Ramp process

The Off-Ramp process allows customers to convert stablecoins into fiat currency, which are then transferred to their associated bank accounts.
Overview:
  1. Customer request:
    • The client initiates an off-ramp request by providing:
      • Customer details
      • Exchange rate
      • Stablecoin to be off-ramped and its amount
      • Bank account or payment details for fiat transfer
    • Lumx validates the ownership of the destination account to ensure compliance.
  2. Transaction setup:
    • Lumx prepares a transaction for the stablecoin-to-fiat conversion, requiring customer authorization.
    • The transaction starts with the status awaiting_signature.
  3. Stablecoin transfer:
    • The customer authorizes and executes the transfer of the specified stablecoin to the Lumx or provider-designated wallet.
    • The transaction status is updated to pending or processing.
  4. Fiat transfer:
    • Lumx initiates a fiat transfer to the customer’s specified bank account.
    • Upon confirmation of the fiat transfer, the transaction status is updated to success.

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Transaction lifecycle for On/Off-Ramps

Both on-ramp and off-ramp processes share a common lifecycle to ensure transparency and traceability:
  • Statuses:
    • awaiting_payment: Awaiting customer action to complete fiat payment.
    • awaiting_signature: Waiting for customer authorization for a stablecoin transfer.
    • funds_received: Fiat payment or stablecoin transfer has been confirmed.
    • pending or processing: In-progress actions such as stablecoin deposit, transfer, or fiat payout.
    • success: Transaction completed successfully.
  • Webhooks: Lumx integrates provider notifications via webhooks to confirm critical actions, such as payment receipts, stablecoin transfers, and fiat payouts.