That's the most accessible description I've heard yet.

Which is helpful because I've been sleeping on it.

Don't feel obligated to answer, but it leaves me asking why it needs a token at all, and how is it transferred between users.

Sounds like a lightning peg out.

I have homework to do. You don't have to spoon-feed me. But I'm more awake, paying more attention now. 🙏

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I don't think it's a token like you mean. If I'm not mistaken the "token" is essentially a secret string. The "token" gets transferred when Alice reveals the secret string to Bob. Then Bob can use the secret string to redeem sats from the mint.

I would guess the root idea comes from the hawala system. If you understand hawala then you might understand ecash as well.

Lyn Alden explains it in her book "Broken Money".