Is it possible for a person A to send money to a person B with a fixed destination amount in B’s currency with Interledger? I mean B does not want even a tiny bit more or a tiny bit less. However, the sender A is ready to pay any fees necessary. (This is probably the case for most payments.)
I found this in ILPv4’s RFC:
Now, instead of fixed destination amount delivery being built into the core protocol, senders may use higher-level protocols to indicate the minimum amount the receiver should accept for a given packet and receivers can reject packets with less than that.
I understand that ILPv4 does not work with fixed destination amounts but do higher-level layers (SPSP) enable this?
I don’t quite understand why there should be both a sendMax and receiveMin in a high-level layer. Shouldn’t the end receiver just always stop the connection at the fixed destination amount (receiveMin) by default? The receiver is not concerned with the fee slippage. It’s the sender who pays whatever fee is needed.
I consider the fee to be the difference between the exchange rate of all the connectors on the path to the receiver and the one the client can get from somewhere like CoinMarketCap’s API.
Shouldn’t the higher-level layer just tell the sender: “this the total amount (amount + fee) you should pay in your currency for you to send X amount of currency Y to person B”. It’s actually “amount + feeMax”. In my opinion, feeMax that defaults to a certain value is a concept that’s much easier to understand for a developer trying to build on top of Interledger, especially if he/she is familiar with cryptocurrencies like Ethereum for example.
Telling someone: “how much are you willing to pay?”, is not as straight forward as telling him “oh btw, the fee will be less than a penny”.
I’m new to Interledger. I would love it if someone can help me out with these questions.
Found that this has been discussed before for the rust implementation #256.
In these ramblings, I assume that the sender knows what currencies the receiver accepts somehow and the client knows how to get an exchange rate from somewhere. I will maybe post a similar post about exchange logic.