Are there any mints that offer Esats instead of Ecash like @Mutiny did? Meaning they denominate the tokens in sats also? nostr:note1dqqk55lw0cj6xspp2e62q5plkz2pxdjml67yf4vunshykqs6zrzsa82fye
Discussion
I like the concept actually! Pretty smart ☝️🤔
Minibits wallet only shows me sats
what is esats?
If I understand correctly you can issue your ecash tokens in any denomination. Bitcoin or gold or energy (hash) can be the deposited asset, but the tokens or liabilities can be anything.
nostr:npub16vzjeglr653mrmyqvu0trwaq29az753wr9th3hyrm5p63kz2zu8qzumhgd is using Ehash as tokens that represent hash rate for mining pools.
Mutiny decided to issue their tokens in bitcoin as Esats so that they could keep the 1-1 peg to sats that were deposited instead of trying to convert sats to ecash dollars.
Every mint issues their own token that is not fungible with other mints. Sure, they call them sats, or esats or whatever but those tokens each have their own exchange rate to pay a bitcoin lightning invoice to achieve interoperability. So nothing really stops mint operators from labeling as usd or eth, or sht