[Mint] Synthetic USD E-Cash with LNMarketsWallet #608
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…tResponse` yielded by `pay_invoice`, with little success.
lollerfirst
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This needs better error messages... |
callebtc
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Sep 6, 2024
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Synthetic USD (s-USD) on LNMarkets is achieved by shorting BTCUSD futures with a leverage equal to 1.
LNMarketsWalletmints USD ecash by querying bolt11 invoices for s-USD deposits of the equivalent value in msat.Naturally, these invoices have a short expiry (120) because the exchange rate is volatile.
Unlike
StrikeWallet, this approach removes the mint operator's necessity of having to register to a KYC platform, as there is no interaction with Trad-Fi.LNMarkets is a startup, but their platform is open source and anybody could potentially start an exchange.