Deposits and Withdrawals explained in Vibrant app

Vibrant lets you deposit local currency and convert to USDX. This week, Vibrant is getting launched in Argentina which will definitely help people get out of their local currency crisis.

Vibrant app makes use of anchors to do conversion from local currency to USDX which is a stable coin running on Stellar blockchain. USDX is being handled by Anchor USD team. Supported anchors are hardcoded by Vibrant team to ensure funds are safe.  

Users can deposit money via credit card, bank transfer and cash transactions. Once the deposit is complete, user will get a push notification that deposit has been received by Vibrant.

DepositProvider and WithdrawProvider classes from Stellar wallet SDK are used for handling deposits and withdrawals.

vibrant app

Calls to anchors need SEP-10 auth token to verify that we control the Stellar account. They do this by calling KeyManager#fetchAuthToken on the Stellar key instance and DepositProvider#setAuthToken on the anchor instance. Vibrant app does this before every DepositProivder call so the auth token does not time out.

DepositProvider#getAssetInfo fetches minimum and maximum amounts that user can deposit. User interact with WebView to fill out their deposit details and this includes KYC information, amount and bank information.

Vibrant’s focus is easy-of-use for non-crypto-savvy people so that more and more people can use their product. The goal is to make everything as-easy-as possible.