๐ป
Hi Jakup!
We could talk about this in another episode, we've made FUTURES trades renewable through rollovers, meaning that you have the possibility to renew a future!
At this stage of development, you can renew your DLC by connecting during the rollover window on weekends (there's even a push notification for this in 10101 app!)
๐๐๐๐๐'๐ฌ ๐๐๐ - ๐๐๐๐๐๐๐ ๐
How Discreet Log Contracts work in Peer-to-Peer Futures trades?
Trade while keeping your precious sats in self-custody!
#P2P #SoundFinance #Bitcoin
Say Jay is betting that Bitcoin price will get higher at a certain date
Bob's taking the opposing bet, claiming it'll be worth less
This is it - that's basically what we call FUTURES trading
Jay and Bob fill a contract with equal parts of corn (a 2-of-2 Multisig)
Each of them places 1 corn in the contract
If Jay wins, he gets his corn and Bob's, and vice versa
They also both pre-signed the 2 possible outcomes of the contract
DUE DATE!
If one of them is a bad player, the oracle publishes the corresponding signature, thus closing the contract
That's it, the Discreet Log Contract has been closed, and there's nothing to see on-chain, just a regular transaction! (that's why it's Discreet)
A note on the oracle :
We've made it fun, but in fact, the Oracle has no idea a bet is taking place. His only job is to certify the price of bitcoin
We may use a quorum of oracles who have no idea about your contract, or that other oracles are being used
That's it for this first episode!
And if you want to learn more, you can visit our blog, we have articles on DLCs, self-custodial trading, and more!
https://10101.finance/blog/dlc-to-lightning-part-1
If you learned something, we'll appreciate any support, you can also share this thread with your friends!
Yup and tomorrow we will honor the memory of the dead, including the traditional financial system.
โ ๏ธ Is it a coincidence that World Savings Day is also the anniversary of Bitcoin's whitepaper?
๐ฅณ Happy Saving Day with #Bitcoin
#WorldSavingsDay
GM and HAPPY HALLOWEEN ๐
๐ป Tonight, we'll disguise as a custodial wallet to steal your keys ๐
Keep your #Bitcoin safe, make a backup!
#GM #coffeechain #plebchain #Onlysats
GM โ๏ธ
Should we drop a thread illustrating how DLCs and self-custodial #Bitcoin futures trading work?
Let us know!
#GM #plebchain #onlysats #lightning #grownostr #trading
๐ข UPDATE FRIDAY: ๐๐ญ.๐ฐ.๐ฏ
What's in it? ๐
๐Order matching fees are now deducted directly from the margin placed in the DLC
๐Fees are now clearly displayed on the transaction item from the open/closed position in the history
๐จWallet balance design received some love
๐ฉโ๐งFixed the bug of a position remaining open even though the channel had been force-closed
๐ฉโ๐งFixed the bug of the app getting stuck when opening the receive
Anything else you want us to implement/tweak/fix?
๐ฌ Let us know in the comments
You can also let us know your thoughts on the app publicly OR privately on #Nostr or on #telegram : https://t.me/get10101
Wanna try our CLOSED BETA app?
๐ฌ Just say "Let me try" in the comments!
Taproot Asset brings centralized issuers
We bring decentralized power
GM โก๏ธ
Our FIAT stability solutions are free of counterparty risk.
Oh, and it's actually backed by something : #Bitcoin.
YOU keep full control of the money you OWN (for real)
Choose wisely
#onlysats #GM #coffeechain #plebchain #SoundFinance
If you've been long and feel it's time to take profits, consider stabilizing part of your balance and re-entering the market when you feel like it!
USDP lets you escape price drops whenever you need to!
#bitcoin #Futures #lightning #onlysats
10101 : You send dollars (but it's actually sats), the recipient receive whatever (but it's actually sats), everything self-custodial and p2p <-- Bitcoiners love?
#Bitcoin #Lightning #Onlysats
Credits: nostr:npub1mxrssnzg8y9zjr6a9g6xqwhxfa23xlvmftluakxqatsrp6ez9gjssu0htc on X
Hi there!
If you're a tester, your ideas and feedback are invaluable to us! Join our Telegram group!
If you're a UI/UX designer, even better! You can join the Matrix chat and get in touch with developers and other contributors to start helping the team!
During the tournament, we're trying to build things with the community and individuals who want to help, but there will probably be paid tasks and jobs after the tournament for those who have brought value to the table!
Phoenix, Breez, Zeus and Blixt.
And honorable mention: nostr:npub1c40rwav67rtl4pmy56wa8vhh8cynlm0zvhr96mcnd5xat74ldxmsm8ttqy
Thanks for the mention! That means we're on your top4 :p
๐ข Update your app, we released ๐๐ญ.๐ฐ.๐ฎ !
What's new it it for you?
๐๐ฅ๐ฒ๐ฐ๐ฒ๐ถ๐๐ฒ ๐ฏ๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐ถ๐ป ๐๐ฎ๐น๐น๐ฒ๐
(On-chain)
๐๐ฆ๐ฒ๐ป๐ฑ ๐ฏ๐ถ๐๐ฐ๐ผ๐ถ๐ป ๐ถ๐ป ๐๐ฎ๐น๐น๐ฒ๐
(To address or BIP21 URI)
๐๐๐ฑ๐ฑ ๐ค๐ฅ ๐ฐ๐ผ๐ฑ๐ฒ ๐๐ฐ๐ฎ๐ป๐ป๐ฒ๐ฟ
(Both On-chain and LN)
More ๐งตโ
๐จ๐ฅ๐ฒ๐ฑ๐ฒ๐๐ถ๐ด๐ป ๐๐ฒ๐ป๐ฑ ๐ฎ๐ป๐ฑ ๐ฟ๐ฒ๐ฐ๐ฒ๐ถ๐๐ฒ ๐๐ฐ๐ฟ๐ฒ๐ฒ๐ป๐
๐ฉโ๐ง๐๐ผ๐ป๐๐ฟ๐ฎ๐ฐ๐๐ ๐ฐ๐ฎ๐ป ๐ผ๐ป๐น๐ ๐ฏ๐ฒ ๐ฒ๐ป๐๐ฒ๐ฟ๐ฒ๐ฑ ๐ถ๐ป ๐ณ๐๐น๐น ๐ฎ๐บ๐ผ๐๐ป๐๐
(No decimals)
๐ฉโ๐ง๐ก๐ฒ๐ ๐ฑ๐ฒ๐ณ๐ฎ๐๐น๐ ๐ฎ๐บ๐ผ๐๐ป๐ ๐ถ๐ ๐ญ๐ฌ ๐ฐ๐ผ๐ป๐๐ฟ๐ฎ๐ฐ๐๐
๐๐ฆ๐ต๐ผ๐ ๐ฃ๐ก๐ ๐ผ๐ป ๐๐๐ฐ๐ฐ๐ฒ๐๐ ๐ฑ๐ถ๐ฎ๐น๐ผ๐ด ๐๐ต๐ฒ๐ป ๐ฐ๐น๐ผ๐๐ถ๐ป๐ด ๐ฎ ๐ฝ๐ผ๐๐ถ๐๐ถ๐ผ๐ป
๐ค๐๐ฑ๐ฑ ๐ฎ ๐ณ๐ฒ๐ฎ๐๐๐ฟ๐ฒ ๐๐ผ ๐ฐ๐ผ๐น๐น๐ฎ๐ฏ๐ผ๐ฟ๐ฎ๐๐ถ๐๐ฒ๐น๐ ๐ฐ๐น๐ผ๐๐ฒ ๐ฎ (๐ฝ๐ผ๐๐ฒ๐ป๐๐ถ๐ฎ๐น๐น๐ ๐ฏ๐ฟ๐ผ๐ธ๐ฒ๐ป) ๐ฐ๐ต๐ฎ๐ป๐ป๐ฒ๐น
That's it for this time!
Is there anything you'd like us to ADD/FIX, or tweak?
๐ฌ Let us know in the comments, or in our telegram group: https://t.me/get10101
USDP : $USD on #Lightningโก๏ธ
No issuer, no token, no counterparty risks
Natively interoperable/cross-compatible because it's just sats, under the hood
Chose wisely.
#Onlysats #bitcoin
#Stablecoins on #Bitcoin thanks to Taproot Assets or RGB?
We've introduced the first self-custodial "stable" that needs nothing but bitcoin and its users
๐ฅNO issuer, NO token, NO counterparty risk๐ฅ
๐๐ฒ๐'๐ ๐ป๐ผ๐ ๐บ๐ฎ๐ธ๐ฒ ๐๐ต๐ฒ ๐๐ฎ๐บ๐ฒ ๐บ๐ถ๐๐๐ฎ๐ธ๐ฒ๐ ๐ผ๐๐ฒ๐ฟ ๐ฎ๐ป๐ฑ ๐ผ๐๐ฒ๐ฟ ๐ฎ๐ด๐ฎ๐ถ๐ป
Yesterday, we published a comparison of the solutions available to achieve USD "fiat stability" in online wallets
While it doesn't solve fiat currencies' fundamental problems, the solution we propose is a game-changer for financial inclusiveness and everyday use
A thread๐งตโ
For context: we released the very first implementation of a synthetic USD, based on #Bitcoin and circulating on the #Lightningnetwork
Our stable position is valued in dollars but 100% backed by #Bitcoin, promoting the adoption of both the underlying asset AND technology
This synthetic USD is a hedging position, somewhat similar to the Stablesats concept pioneered by @GaloyMoney
However, the key difference lies in our use of Discreet Log Contracts technology, which makes this position peer-to-peer and self-custodial
https://10101.finance/blog/synthetic-stable/
For users lucky enough to come from relatively wealthy countries, with a developed and accessible banking system, holding #bitcoin is viable with a certain time horizon, and a local currency stable enough to cover daily expenses, until sats become widely accepted...
However, for many people around the world, short-term volatility is fearful and can even be destructive to daily purchasing power
In countries hit by uncontrollable inflation, such as Lebanon, we can observe USDT being used for these reasons
El Salvador's groundbreaking decision to make bitcoin a legal tender has opened up new horizons for financial freedom and inclusion
However, for the same reasons mentioned earlier, the majority of users are turning to custodial solutions
These solutions have a major advantage: they are VERY convenient and allow for receiving and sending sats, and even Stablesats (In the best case scenario)
While other solutions are just proposing a credit card for the custody of one's bitcoin or usdc
https://twitter.com/Volcano_Energy/status/1683900425919922177
Not to mention the counterparty risks, KYC processes that compromise the benefits of Bitcoin for financial inclusion & freedom, and regulatory risks that could jeopardize users' funds
This is why we believe it is important to have another option, an option empowering users
Promoting financial freedom through synthetic currencies on Bitcoin via DLCs is our mission
Our challenge : to make the experience as convenient and accessible as possible, while remaining true to our values, and to the open-source and self-custodial nature of our product
We recognize the urgent need for a "StableCoin" that is not only resistant to censorship but also devoid of centralized control, making it an ideal instrument to promote financial sovereignty and human rights
We still have a lot of work! Thanks for reading!
nostr:npub1cf3zeytdnwgwzz5pk2ax0vvmmlzad03xcft4d50ejrfhsh8pxcdsefx7gk nostr:npub1trr5r2nrpsk6xkjk5a7p6pfcryyt6yzsflwjmz6r7uj7lfkjxxtq78hdpu
Let's compare the current "fiat stability" solutions offered by online wallets to nostr:npub1c40rwav67rtl4pmy56wa8vhh8cynlm0zvhr96mcnd5xat74ldxmsm8ttqy & USD.P :
โกThe FIRST #Lightning native synthetic USD !
Our goal is to make it divisible, transferable and permissionless, just like its underlying asset: #Bitcoin !
#OnlySats #GrowLightning #GrowNostr #btc #lightningnetwork
