I went back and forth on this for years now.

I can say with confidence and complete certainty after looking under the hood and even running a mint for a short period of time that cashu is not Bitcoin, it’s not a layer 2 or a layer 3. It is in no way dependent on Bitcoin.

A mint operator can use a custodian wallet like WOS or Strike as the funding source. They could even decide to use any shitcoin or fiat currency as the funding source. It’s a trust me bro IOU system where the cons outweigh the pros.

One could say it’s another solution in search of a problem. To sum it up It’s a shitcoin without a blockchain.

Claiming it’s scaling solution is misleading because not only is it not bitcoin dependent but the mempools are empty. Maybe that’s why Calle is pro spam because the spam pushes users off chain to lightning during fee spikes and all of a sudden cashu sounds like it’s solving something.