As an Authority you can create your own pool of accounts and perform transactions within that pool. It is necessary to settle all transactions against the Authority API, although this can be slightly delayed. We recommend that you settle all transactions either immediately or within 24 hours (depending on your infrastructure).
To settle transactions the API will verify that the source account has the required balance and that your Authority has access to the account, otherwise the transaction will fail.
When settling you must provide the original date of the transaction and also properly sign the transaction with your private key. Once settled, this information is cryptographically stored in the Ven Vault.
You can also perform Ven purchase and sale. This operation, however, will calculate current Ven price. You are urged to perform purchase/sale operations immediately, otherwise price fluctuation may result in a different exchange rate.
Ven Purchase and Sale Strategy
To be in control of the Ven purchase price, first use one of our pricing APIs to acquire the Ven price. Then use the Authority API to perform the purchase, noting it is possible the price can fluctuate over time. To protect yourself, you can specify limits: min and max Ven rates. The transaction will only be successful if the rate is within your requested range.
This way you can leave a reasonable gap for quick fluctuations, giving you opportunity to reconsider should the price change faster than you anticipate.
In order to authenticate your access as an Authority, you will be required to sign a security challenge with your private certificate which must match a public certificate associated with your Authority record in the Ven Vault.
API Access and blueprints
To access this API, you require a unique Authority ID. A detailed description of this API is available only for authorities. For more information, please contact us.