Does anyone intend on being a robosats coordinator?
Discussion
What is this ?
robosats is a laregly trustless market for people who want to buy and sell bitcoin or lightning swaps. They are transitioning to a decentralized model that allows you to participate as a coordinator that facilitates matching makers with takers. The incentive is that you can extract a fee as a small percentage of the trade, and you only need a relatively small amount of liquidity to facilitate lightning transactions (but a larger amount of liquidity for onchain payouts).
Very interesting
If they do, I hope their nostr opsec has been tight if they post about it here
What are the requirements?
I think the three majors are a dedicated bitcoin/lightning node, some liquidity, and the ability to host a stable tor hidden service. Practically speaking, to be successful, you have to have node management, opsec, infosec, and server admin skills.
I might give it a shot, don't have that much liquidity (less than 5M sats) though.
Could be a fun project but I also lack large amounts of liquidty.
Personally, I don't think liquidity will be the major issue. The amount of support you have to provide for failure and dispute resolution scenarios might be quite stressful and time-intensive. Robosats had major issues with LND recently that seemed to require quite a bit of experience with sticky technical lightning node maintenance issues.
Coordinators also resolve disputes? 🤔
That is my assumption!
I'll have to look into it but that might be potentially exploitable.
I think that the federation of coordinators will lean pretty hard on conservative reputation management. Clients will likely have very access to transparent metrics and will be encouraged to favor high-reputation coordinators.
Where can I look further into it? I have a full node that I believe would meet the requirements.