Good Morning โ๏ธ
> SAY IT BACK!
#coffeechain #gm #plebchain
[โก๏ธLEGENDS OF LIGHTNINGโก๏ธ UPDATE]
We just released on nostr:npub1funq0ywh32faz0sf7xt97japu8uk687tsysj8gndj4ehe825sq4s70gs0p : the current current state of development of our project: ๐ฃ๐๐๐ญ, the lightning-native StableCoins!
We also describe the challenges we face, and the help we need, especially on UI/UX!
JOIN THE FUN!
https://bolt.fun/story/pegz-how-far-have-we-got-1-lightning-stablecoin--1102
โก๏ธโก๏ธ
Good Morning ๐
Do you have a friend who loves UI/UX design or playing with Flutter? ๐จโ๐จ๐ฉโ๐ป
#nostr #bitcoin #onlysats #buildinpublic #opensource
Where are the UI/UX designers on #Nostr ?
Tag them below! ๐
๐ข๐๐ฟ ๐ฎ๐บ๐ฏ๐ถ๐๐ถ๐ผ๐ป ๐ถ๐ ๐ฐ๐น๐ฒ๐ฎ๐ฟ: to revolutionize the use of Lightning, and give more power to the people โก๏ธ
#Bitcoin in everyone's pocket, in an easy-to-use application that even your grandma could use! ๐ต๐
And we need you to get there! ๐
https://void.cat/d/RCsEExy2Dv2ogbSxgdb34R.webp
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Who cares about a #Stablecoin when you can own your balance trustlessly? ๐
Our PEGZ enables traders to hedge easily, and for those who can't afford short-term volatility, a stable balance they can freely dispose of (hold, transfer or pay with)
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Who cares about a #BitcoinETF when you can get the real deal? ๐ฆ
We want to offer anyone the opportunity to hold, trade or spend their #Bitcoin on the #LightningNetwork, freely and without authorization
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Who cares about bonds when you can get implicit yield on your stable balance? ๐ฉโ๐พ
Although interest rates cannot be guaranteed, as they depend on market trends, historical returns on perpetual inverse swaps have been explosive, according to a recent analysis by Theo Mogenet
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We need you to achieve our vision ๐ซต
Whether you're a simple tester or a UI/UX expert, our biggest challenge is to make our application so easy to use that anyone can easily grasp it
Give us your thoughts on how we should work on 10101, and feel free to tag any UI/UX designers! ๐จโ๐จ๐ฉโ๐ป
#PlebChain #Onlysats #nostr #grownostr
We are thrilled to announce that we are BACK for another electrifying round of the Legends of Lightning Hackathon powered by nostr:npub1funq0ywh32faz0sf7xt97japu8uk687tsysj8gndj4ehe825sq4s70gs0p
This time with *USDP - Pegz a synthetic USD powered by DLCs*
Our announcement:
https://bolt.fun/tournaments/legends-of-lightning-vol2
For the tournament we will focus on the UI/UX of making self custodial stablecoins accessible for everyone.
If you want to better understand what's at stake and our over coming challenges :
https://bolt.fun/story/exploring-synthetic-lightning-native-stablecoins--1092
#Nostr #plebchain #lightning #stablecoin #onlysats #LegendsOfLightning #BuildInPublic
At the moment, we need an apple account / google account to let you enter the closed beta. Feel free to send us your details in DM !
How are you riding this pump, anon?
#BTC #Bitcoin #OnlySats
We released our V1.3.0 ๐ถ๐ข๐ฆ & ๐๐ป๐ฑ๐ฟ๐ผ๐ถ๐ฑ! ๐๐ค
Introducing the first implementation of #selfcustodial ๐ฃ๐๐ฅ๐ฃ๐๐ง๐จ๐๐ ๐๐จ๐ง๐จ๐ฅ๐๐ฆ trading, secured with #Bitcoin using DLCs on #Lightningโก๏ธ
And many other goodies ๐๐งต!
https://void.cat/d/BhmGDyKpPHLa7Ljohhqgh.webp
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โ ๐ฃ๐๐ฅ๐ฃ๐๐ง๐จ๐๐ ๐๐จ๐ง๐จ๐ฅ๐๐ฆ
You can now roll over your leveraged position by launching the app at weekends (from Friday 3pm to Sunday 3pm) ๐
This will automatically renew your discreet log contracts ๐
Don't worry, 10101 will send you a notification to remind you ๐
๐ If you donโt come online before in the rollover weekend the position will expire
๐ You can always launch your application and close your position at any time, even at weekends during the rollover period.
https://i.giphy.com/media/ZZkCo8zKWtt2ZgozfX/giphy.webp
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๐ ๐ข๐๐ต๐ฒ๐ฟ ๐ฐ๐ผ๐ผ๐น ๐๐๐๐ณ๐ณ
๐ค Find match on an expired position
โณShow loading screen when app starts with an expired position
๐ฑ Allow exporting the seed phrase even if the Node is offline
โ Add close button to dialog if it remains on pending for more than 30 seconds
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๐ง ๐๐ถ๐ ๐ฒ๐
๐ค Android 12 is now supported
๐ฉนPrevent application crashes in the absence of an Internet connection
๐ฅWhen pulling down wallet sync it waits until the sync is finished
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Thank you all for testing our BETA and sending us feedback!
Your inputs are the most valuable driving force behind our efforts, so please do not hesitate to send them to us privately or publicly on #nostr!
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You can also help us by spreading the word, liking or reposting this note! ๐๐
You can also share it with #Bitcoin and #Lightning enthusiasts, or even to leveraged trading users, enlightening them on the powerful nature of #selfcustody!
#plebchain #lightningnetwork #onlysats
POV : They wanna have the custody of your corn ๐ฝ
#Bitcoin #Plebchain #memechain
๐ฃ๐ข๐ฉ: You're about to lose all your funds and can't blame it on a malicious exchange (ala FTX ๐)
๐ญ๐ฌ๐ญ๐ฌ๐ญ is a self-custodial #Bitcoin trading platform, manage your own risks, because we're not going anywhere with your funds ๐
#LightningNetwork #selfcustodial
How do Synthetic Stable Coins using DLCs work?
Checkout the info graphic below for details.
#Bitcoin #Stablesats
At 10101 we are preparing for the next big thing. #selfcustodial synthetic #stablecoins powered by #DLC.
It uses derivatives to stabilize #Bitcoin towards another asset of choice, for example the US dollar.
But how does that work?
To achieve a stable position in terms of USD, we utilize a #Bitcoin derivative called a perpetual inverse future.
In this mechanism, users who wish to hold a synthetic #stablecoin take a short position in a perpetual inverse future with a leverage of 1.
A counter party willing to go long takes the other side of the trade with a leverage of 1.
The chart below illustrates how this function looks like.
In the given example it shows how much BTC each party may receive depending on the USD price of BTC.
Let's have a look at an example assuming a bitcoin price of $30.000.
1. Alice wants to hold $30,000 in our synthetic stable coin.
2. She has to put up 1 BTC (โ $30,000).
3. Bob takes the other side of the trade, and also has to put up 1 BTC (โ $30,000).
Assuming the price appreciates to $60,000:
1. Alice still holds $30,000 (โ 0.5 BTC) => $30,000/$60,000 = 0.5 BTC.
2. Bob holds 1.5 BTC (โ $90,000).
Assuming the price depreciates to $15,000:
1. Alice still holds $30,000 (โ 2 BTC) => $30,000/$15,000 = 2 BTC.
2. Bob holds 0 BTC (โ $0).
Assuming the price appreciates to $1,000,000:
1. Alice still holds $30,000 (โ 0.03 BTC) => $30,000/$1,000,000 = 0.03 BTC.
2. Bob holds 1.97 BTC (โ $970,000).
If the price drops below $15,000 in this example, the short position's value will fall below the initial $30,000.
Differently said, the long position gets liquidated at $15,000. That means that the position won't be stable anymore as the counter party dropped.
If you got until here, sign up to our waiting list if you want to be one of the first ones to try #selfcustodial stablecoins on #Bitcoin.
Still trading on a centralized exchange? Stop!
Go #selfcustodial with @get10101 and save your spot on our waiting list .
10101.finance
We will invite the next 10 users from our waiting list on Friday!
Want to see where you are on the beta waiting list? #๏ธโฃ๐ฏ
You can check your rank at http://10101.finance - hit the "Sign me up!" button and fill in the email you signed up with before!
We heard confetti are the de-facto standard in #Lightning ๐คช
https://nostr.build/av/adecedab1e027267f18273af0b42435f4395ad54df106e4960605dd40d788274.mp4
One way to bring #DLC to the #LightningNetwork is to extend the commitment transaction.
We called it a custom output.
https://void.cat/d/W6oc7jZyjZ6rbPJ5VfJxXL.webp
When settling a #DLC, the #Lightning node doesn't need to know the specifics. It just needs to be instructed to collaboratively remove a custom output, splitting its coins in a particular way.
This is analogous to what happens when a HTLC is removed after a claimed payment.
https://void.cat/d/M5fa1GovNPxPx6Bm3Ko9DT.webp
Check out our latest blog post of the "Bringing DLCs to Lightning" series at https://10101.finance/blog/dlc-to-lightning-part-2/