What if you could onboard a million people with one UTXO? https://deposits.ynniv.com
Discussion
I tried to understand your BD but don't see the benefits. It sits somewhere between Cashu, Fedimint and Liquid but doesn't solve the rug-pull risk at all.
Cashu: You trust the mint to honor your random strings for bitcoin payments later but you have no idea if there is any bitcoins at all.
Fedimint: At least you know there is no single point of failure. One machine catching a virus won't empty the mint.
Bitcoin Deposits: You know the reserve of the "mint" and your balance and can proof to others if your balance is not being honored. They can still steal your deposit but if some "neutral parties" actually act and do the right thing and the mechanism works as advertised, users can be made 20% whole? Why not make the security deposit 100%? $10000 is a good return on a $2000 investment.
Liquid: You know all the transactions of the "mint". They can still rug pull you.
I'm going to revisit the website description soon, but to your points:
- you can only steal funds with the cooperation of your channel partner
- reserves are 120%, so users can expect to be made whole
The goal is then to build a dense enough web of connections, with economics good enough to be able to recommend channels with at least one honest partner