Replying to Avatar Keith Mukai

This feels so weird to have non-kyc, permissionless(ish?) access to Tether.

SideSwap instantly converted my Liquid btc to Liquid Tether with a ~1% spread (effectively a fee).

Nothing being reported to the IRS. Dunno if SideSwap has a limit on how much you can convert.

Regulators will eventually get around to locking US users out of this.
5e
5e513413... 2y ago 💬 2

How does this work? I want to use peach and they support L-USDT

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Keith Mukai 2y ago

I tested btc to L-USDT: Peg-in onchain btc into SideSwap to receive L-BTC (you pay standard btc miner fee + 0.1% on the swap).

Then you can instantly swap L-BTC to L-USDT.

Liquid blocks are guaranteed every minute and they consider two confirmations (so 2 minutes) as finality.

Doing everything in reverse should work, too:

* swap L-USDT to L-BTC

* peg-out back to btc

* OR use Boltz to go straight from L-BTC to your LN wallet (pretty f'n mind-blowing!).

5e
5e513413... 2y ago

Hmm, seems like there's a chicken and egg problem if you're trying to buy non kyc corn and all you have is kyc coins.