| title | 2020-04-16 | ||||||
|---|---|---|---|---|---|---|---|
| description | This overview highlights anchor services and network fees and resource limits. | ||||||
| authors | john | ||||||
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import YouTube from "@site/src/components/YouTube";
Lisa Nestor moderated the first virtual roundtable focused on defining a new “send/receive” SEP that standardizes how anchors transfer funds to each other on behalf of end users. She opened by explaining how Stellar Ecosystem Proposals evolve from community discussion into GitHub drafts, and why this effort builds on existing standards like SEP-6, SEP-10, and SEP-24 rather than reinventing anchor interoperability from scratch.
The discussion quickly moved from theory into real-world remittance workflows. Participants from Tempo, SatoshiPay, Cowrie, and SDF examined how KYC data should flow, which responsibilities belong inside or outside the SEP, and how edge cases like failed bank deposits or cash pickup name mismatches should be handled. The group emphasized keeping the protocol narrow and composable, while leaving space for bilateral agreements, compliance-as-a-service providers, and future extensions.
- Scope of a send/receive SEP: why anchor-to-anchor payments need a dedicated endpoint, and which responsibilities (onboarding, business agreements) intentionally live outside the protocol.
- Relationship to existing SEPs: reusing SEP-6/24 request shapes, SEP-10 for anchor authentication, and debating whether SEP-12 adds value for this flow.
- KYC handling: when sending anchors can reuse stored customer data, when receiving anchors dictate requirements, and how third-party compliance providers might integrate.
- Transaction lifecycle gaps: need for clearer intermediate statuses (pending, info-needed), update flows for fixable errors, and better handling of cash rename scenarios.
- Refunds and failures: why full refunds are costly, and how update-in-place mechanisms could improve user experience for downstream bank rejections.
- Jurisdictional complexity: differing regulatory requirements across regions, and why high-touch compliance cases cannot always be fully codified.
- Ecosystem trust model: anchors are independent, regulated businesses, with reputation and bilateral trust—not SDF—governing who participates.