Skip to content
Merged
Show file tree
Hide file tree
Changes from all commits
Commits
File filter

Filter by extension

Filter by extension

Conversations
Failed to load comments.
Loading
Jump to
Jump to file
Failed to load files.
Loading
Diff view
Diff view
255 changes: 255 additions & 0 deletions docs/NOSTR_EXCHANGE_RATES.md
Original file line number Diff line number Diff line change
@@ -0,0 +1,255 @@
# Nostr-Based Exchange Rates

## Overview

Mostro daemon publishes Bitcoin/fiat exchange rates to Nostr relays as NIP-33 addressable events (kind `30078`). This enables:

- **Censorship resistance** — Mobile clients in censored regions (Venezuela, Cuba, etc.) can fetch rates via Nostr
- **Zero scaling cost** — Relays distribute events; no per-request infrastructure needed
- **Backward compatibility** — HTTP API remains available as fallback

---

## Event Structure

### Kind 30078 (NIP-33 Addressable Event)

```json
{
"kind": 30078,
"pubkey": "82fa8cb978b43c79b2156585bac2c011176a21d2aead6d9f7c575c005be88390",
"created_at": 1732546800,
"tags": [
["d", "mostro-rates"],
["published_at", "1732546800"],
["source", "yadio"],
["expiration", "1732550400"]
],
"content": "{\"BTC\": {\"USD\": 50000.0, \"EUR\": 45000.0, \"ARS\": 105000000.0, ...}}",
"sig": "..."
}
```

### Fields

- **kind:** `30078` (application-specific data, NIP-33 replaceable)
- **pubkey:** Mostro daemon's public key (same key that signs orders)
- **d tag:** `"mostro-rates"` (NIP-33 identifier — replaces previous rate events)
- **published_at tag:** Unix timestamp when daemon published the event (not source timestamp)
- **source tag:** `"yadio"` (indicates rate source)
- **expiration tag:** Unix timestamp for event expiration (NIP-40) — prevents stale rates
- **content:** JSON-encoded rates in format `{"CURRENCY": price, ...}`

### Content Format

The `content` field contains the full Yadio API response structure:

```json
{
"BTC": {
"BTC": 1,
"USD": 50000.0,
"EUR": 45000.0,
"VES": 850000000.0,
"ARS": 105000000.0,
"AED": 260491.35,
"..."
}
}
```

**Format:** Identical to Yadio API response (`/exrates/BTC`).

**Rate semantics:** Each value under `"BTC"` represents the price of 1 BTC in that currency.

**Example:** `"BTC": {"USD": 50000.0}` means 1 BTC = 50,000 USD.

---

## Configuration

### Enable/Disable Publishing

Add to `settings.toml`:

```toml
[mostro]
# ... existing config ...

# Publish exchange rates to Nostr (default: true)
publish_exchange_rates_to_nostr = true

# Exchange rates update interval in seconds (default: 300 = 5 minutes)
exchange_rates_update_interval_seconds = 300
```

**Defaults:**
- `publish_exchange_rates_to_nostr`: `true` (enabled for censorship resistance)
- `exchange_rates_update_interval_seconds`: `300` (5 minutes)

### Update Frequency

Exchange rates are fetched from Yadio API and published to Nostr based on the configured `exchange_rates_update_interval_seconds` value.

**Recommended values:**
- **Production:** `300` (5 minutes) — balances freshness with API rate limits
- **Development:** `60` (1 minute) — faster testing
- **Low-volume instances:** `600` (10 minutes) — reduces API calls

**Note:** Very short intervals (<60s) may hit Yadio API rate limits.

---

## Implementation Details

### Code Flow

1. **Scheduler** (`scheduler.rs`): `job_update_bitcoin_prices()` runs at intervals configured by `exchange_rates_update_interval_seconds` (default: 300 seconds)
2. **BitcoinPriceManager** (`bitcoin_price.rs`):
- Fetches rates from Yadio HTTP API
- Updates in-memory cache
- If `publish_exchange_rates_to_nostr == true`:
- Transforms rates to expected JSON format
- Creates NIP-33 event (kind `30078`)
- Publishes to configured Nostr relays

3. **Event Creation** (`nip33.rs`): `new_exchange_rates_event()` creates the signed event

### Error Handling

- **Yadio API failure** → Logs warning, skips update (keeps previous rates valid)
- **Nostr publish failure** → Logs error but doesn't fail the update job
- **Event creation failure** → Logs error but doesn't crash daemon

**Philosophy:** Nostr publishing is best-effort; HTTP API remains the source of truth.

---

## Security Considerations

### Event Verification (Client-Side)

Mobile clients **MUST** verify the event `pubkey` matches the connected Mostro instance's pubkey to prevent price manipulation attacks.

**Attack scenario:** Malicious actor publishes fake rates to influence order creation.

**Mitigation:** Clients only accept rate events signed by their connected Mostro instance.

See: [Mobile client spec](https://github.com/MostroP2P/app/blob/main/.specify/NOSTR_EXCHANGE_RATES.md)

### Relay Security

- Events are signed with Mostro's private key (standard NIP-01 signature verification)
- NIP-33 addressable events: newer events replace older ones (prevents stale data)
- **NIP-40 expiration:** Events expire after 1 hour (relays should delete them)
- No sensitive data in events (all rates are public information)

---

## Testing

### Unit Tests

```bash
cargo test bitcoin_price
```

**Coverage:**
- Yadio API response deserialization
- Rate format transformation (`{"USD": 0.024}` → `{"USD": {"BTC": 0.024}}`)
- JSON serialization for Nostr event content

### Integration Testing

1. Start Mostro daemon with `publish_exchange_rates_to_nostr = true`
2. Wait 5 minutes (or trigger update manually)
3. Query relay for kind `30078` events from Mostro pubkey:

```bash
# Using nak CLI
nak req -k 30078 -a <mostro_pubkey> --tag d=mostro-rates wss://relay.mostro.network
```

**Expected output:** JSON event with current exchange rates

### Manual Testing

```bash
# Subscribe to rate updates
nostcat -sub -k 30078 -a <mostro_pubkey> wss://relay.mostro.network

# Verify content format
echo '<event_content>' | jq .
# Should output: {"BTC": {"USD": 50000.0, "EUR": 45000.0, ...}}
```

---

## Deployment

### Production Checklist

- [ ] Verify `publish_exchange_rates_to_nostr` config in `settings.toml`
- [ ] Set `exchange_rates_update_interval_seconds` (default: 300)
- [ ] Confirm Nostr relays are reachable from daemon
- [ ] Monitor logs for "Starting Bitcoin price update job (interval: Xs)" on startup
- [ ] Monitor logs for "Exchange rates published to Nostr" messages
- [ ] Test client-side rate fetching from Nostr
- [ ] Verify fallback to HTTP API works if Nostr unavailable

### Monitoring

**Success indicators:**
```text
INFO Exchange rates published to Nostr. Event ID: <id> (<N> currencies)
```

**Error indicators:**
```text
ERROR Failed to publish exchange rates to Nostr: <error>
ERROR Failed to send exchange rates event to relays: <error>
```

---

## Related Documentation

- [NIP-33: Parameterized Replaceable Events](https://github.com/nostr-protocol/nips/blob/master/33.md)
- [Mobile Client Spec](https://github.com/MostroP2P/app/blob/main/.specify/NOSTR_EXCHANGE_RATES.md)
- [Issue #684: Feature Proposal](https://github.com/MostroP2P/mostro/issues/684)

---

## Future Enhancements

### Multi-Source Aggregation

Aggregate rates from multiple sources (Yadio, CoinGecko, Binance):

```toml
[mostro]
exchange_rate_sources = ["yadio", "coingecko", "binance"]
```

Publish average or median rates to reduce single-source dependency.

### Rate History

Store historical rates in database:

```sql
CREATE TABLE exchange_rate_history (
timestamp INTEGER PRIMARY KEY,
currency TEXT NOT NULL,
btc_rate REAL NOT NULL,
source TEXT NOT NULL
);
```

Publish daily/weekly summaries as separate NIP-33 events.

### Custom Event Kinds

Propose standardized Nostr event kind for exchange rates (currently using generic `30078`).

**Draft NIP:** "Exchange Rate Events" (kind TBD, e.g., `30400`)
Loading
Loading