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TBD54566975 / tbdex

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Include rate in `Quote` message #330

Closed mistermoe closed 1 month ago

jiyoontbd commented 2 months ago

notes out of tbdex wg discussion

nburgess48 commented 2 months ago

After further thought I agree it'd make sense to explicitly include a top level unrounded rate in the Quote. That said, I think this should be an Eng decision, since the relevant Regulatory requirements can all be met as-is:

  1. The PFI must use the actual exchange rate when calculating total to recipient (not a rounded rate)
  2. The Wallet rendering a Quote must disclose a rounded exchange rate to users
  3. The Wallet rendering Quotes must be consistent in disclosing Quotes' details

During our mtg, I was incorrectly concerned about Req 3 being met if we include an explicit rate in the Quote. Since some PFIs might apply the rate to the payin amount after fees, and others to the payin amount before fees. But in those two scenarios the rate itself isn't changing, it's just how it's applied that's changing. And that difference is correctly reflected in the payout amount that will be disclosed to users. All that said, I was wrong in my thinking during the meeting, and this proposal meets all of our requirements.