Replying to Avatar HODLBurger

I generally agree with your sentiment here but there is a difference between an IOU and an IOU that can be redeemed on chain unilaterally.
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Gildong.Hong 2y ago

What is the meaning of 'unilaterally'?

If it means trustless trust, like LN-BTC, It is not an IOU. Unlike this, if some permissions are required, It is an just IOU what I'm talking about.

Liquid requires trust to redeem.

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HODLBurger 2y ago

Agreed, although in practice there's decent liquidity that doesn't require an official peg-out with liquid. Perhaps bitVM can give us a real trustees two way peg? Although it sounds over hyped as of now.