How to Create an Offer | XRPL Development with JavaScript Level 2

Introduction

The XRPL (XRP Ledger) provides native Decentralized Exchange (DEX) functionality, allowing users to create offers (orders) to buy and sell assets. In this article, we will explain how to create an offer on XRPL.

Preparation

When sending tokens other than the native currency XRP, you need to specify the currency code and issuer.

Tokens on XRPL always have an issuer, and preparing your own issuer each time is inefficient for learning purposes. Therefore, to improve efficiency, you can identify and use an existing issuer in advance.

An address that has already issued the currency code USD exists on the testnet, so we will use this one.

// GateHub
rhub8VRN55s94qWKDv6jmDy1pUykJzF3wq

Basic Knowledge

The testnet is a development network, so the ledger may be periodically reset due to operational reasons.

Create the Script

1. Create a new file named create_offer.js in your project directory.

2. Paste the following code into create_offer.js.

   Let’s create an offer to buy 200 USD tokens for 20 XRP.

   const xrpl = require('xrpl');
   
   async function createOffer() {
       const client = new xrpl.Client('wss://s.altnet.rippletest.net:51233'); // Testnet
       await client.connect();
   
       const wallet = xrpl.Wallet.fromSeed('your_wallet_seed'); // Wallet seed
   
       // Create the offer (order)
       const offer = {
           TransactionType: 'OfferCreate', // Create an offer
           Account: wallet.address, // Source wallet address
           TakerGets: xrpl.xrpToDrops(20) // Amount of asset to pay (here, 20 XRP)
           TakerPays: {
               currency: 'USD', // Currency code to receive
               issuer: 'rhub8VRN55s94qWKDv6jmDy1pUykJzF3wq',  // USD issuer (GateHub)
               value: '200', // Amount to receive
           },
       };
   
       const prepared = await client.autofill(offer); // Automatically complete the transaction
       const signed = wallet.sign(prepared); // Sign the transaction
       const result = await client.submitAndWait(signed); // Send
   
       console.log('Offer creation result:', result);
       await client.disconnect();
   }
   
   createOffer();

   1. Set the asset you are offering in TakerGets and the asset you are receiving in TakerPays.

   About submitAndWait

   In this guide, we use the autofill and sign methods before submitAndWait, but you may send the transaction with submitAndWait alone. The benefits include better code readability and easier error handling, so feel free to use either way in each appropriate situation. *For example, if signing fails.

Run the Script

1. Run the following command in the command line to execute the script.

   node create_offer.js

2. If successful, the console will display the following.

   Offer creation result: {
       id: 10,
       result: {
           Account: 'rP1WwXDZvQHvNiyenBpLvSdx3E8WuUpQc5',
           Fee: '12',
           Flags: 0,
           LastLedgerSequence: 671539,
           Sequence: 477852,
           SigningPubKey: 'EDA0094F9DE33C9BBD4681C9D88407C92A93D7532775B08731572DA419C804BA27',
           TakerGets: '20000000', // 20 XRP
           TakerPays: {
               currency: 'USD', // Currency code
               issuer: 'rhub8VRN55s94qWKDv6jmDy1pUykJzF3wq',
               value: '200' // 200 USD
           },
           TransactionType: 'OfferCreate',
           TxnSignature: '9499CCD90E522641E92E53836B583F80D4044C1340571FF8BE4B68EE2A7E15238A1F78418A7CCB274576622BC44EE4F2B8E38EFBCAEC10ED8442C9C3BBF31C04',
           ctid: 'C00A3F2100010001',
           date: 769022540,
           hash: '19A8E96B7222B4C0C05DB2A782FEB211C28E824A73B6A17670D34D47C7694668',
           inLedger: 671521,
           ledger_index: 671521,
           meta: {
               AffectedNodes: [Array],
               TransactionIndex: 1,
               TransactionResult: 'tesSUCCESS' // Success
           },
           validated: true
       },
       type: 'response'
   }

   The offer creation was successful.

   If this USD were a stablecoin, it is unlikely that someone would want to exchange 20 XRP (about $10 as of 2024/05/15) for 200 USD. However, this example demonstrates how easy it is to place orders on XRPL’s native DEX.