Thanks MrHodl! I just set zaps up! Please let me know if you see it / tonklaus@zeuspay.com works?
That’s correct. The Stable Provider is taking the upside and downside risk for the Stable Receiver.
In the base case, the stability would only survive a 50% fall from the starting point price, unless the stability provider put in more bitcoin to keep it stable.
Probably way more information than you want, but here is a blog post about it - https://delvingbitcoin.org/t/stable-channels-peer-to-peer-dollar-balances-on-lightning/875
That's right if you put in $10 of sats you'd get $10 stability against BTC collateral. And involves trust in mint, correct.
Some interesting usage statistics on the Stable Channel + eCash integration. $28,000 economic activity / payments on a $1,000 Stable Channel in 44 days.
Really shows how Lightning is better tech that can increase velocity of money.
I made a demo video of the eCash wallet + mint + Stable Channel approach to offer BTC-backed USD eCash tokens.
There's a lot going on. I cover the moving pieces, how it looks for users, and some of the pros and cons of eCash. The mint write Stable Channels settlement events to nostr.
All new tech, be careful out there folks!
This video file is huge for nostr so I'll link back to Twitter for this one.
This Boardwalk cash project has awesome UI. It is using an ecash mint powered by a stable channel under the hood nostr:note1dl2c9gppmssgur4t3laytwl4dj8z8act26lewznwkf009rrmt7gqnq4yuj
It’s been awesome learning about #cashu and NOSTR working on Stable Channel-backed mints with nostr:npub1mz3vx0ew9le6n48l9f2e8u745k0fzel6thksv0gwfxy3wanprcxq79mymx nostr:note1l3q9h0t4dftfz5zx52z9r9fyhjevnkkpnkgzt4m4plcuxzhcpx3qsznal8
Just zapped #[0] 69,420 for producing this banger ⚡️
“We’re the U.S. Government (Thin Air Remix) — #[1] feat. Brad Sherman
🔊
https://nostr.build/av/dd3816dc82b536fb8db3cefc8b0a82c6e16ee97873d3b6b154b9f5dae7e0f7d5.mov
It’s really good! I think it should be shortened a lot with captions and it’d be even better!
My dad always said the deaths of trees makes us remember our own mortality