my description might not be one hundred percent accurate so i'm definitely open to correction here.
but from what i understand it is a federated set of "mints" that control the production of tokens. You stake BTC and get X ammount of tokens back and those tokens can be used like an L2 that pays someone instantly.
Im unsure if anyone can run a mint and what the details are on how mints keep eachother honest.
Staking bitcoin and minting things sounds like some Stacks/Ordinal type stuff. Someone please correct me if I’m wrong.
I ended up putting it in the same catagory as the liquid sidechain in my brain. Seems to work in a similer fashion. but again my understanding on both is rudimentary and I don't really like side chains that involve staking + token genaration.
Deep dive on the topic from just a few days ago here.
