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Available everywhere! The "orderbook" is simply a service we provide to help makers and takers find each other. The actual settlement is P2P on the Lightning Network! No compliance checks on our end unless the maker/taker uses something like Reflex or some LSP checks.
We make money by providing liquidity services and small make-take fees. We're hosting servers in the US in the beginning but have plans to spread out depending on regional activity.
Your counterparty on flashnet can collude with flashnet to steal your money if you are a Taker. Your lightning peers can't do that. They could collude with miners to execute a 51% attack on bitcoin, censor your justice transactions, and steal from you that way. But that's a lot harder than phoning up flashnet and saying "hey, let's rug this guy." I appreciate the comparison, but flashnet introduces a lot bigger of a trust assumption than lightning does.
What I meant was that there are trust-assumptions on Lightning as well, but we still call it trustless. I agree that the attack vector may be bigger here, but incentives are not aligned. But, again, yes will revisit wording!
Also, this is just v1! Lots of room for improvement as always :)
If you want to keep chatting more than happy to @ t.me/lnpolarity
Creating an exchange on lightning is cool but you do it a disservice when you call it trustless even though the oracle + the maker can steal the taker's money. I recommend removing the term trustless from your marketing.
There are reputational factors to this 100%, but it's the same as saying Lightning is trustless when you have peers you have to route through -- same principle imo. Oracle has 0 incentive to steal the collateral, which at most is a couple bps.
That being said I completely understand your point. Will revisit wording!
Kollider was a centralized derivatives exchange that had you deposit funds.
We are purely spot! Plus LNMarkets is killing the derivative game with ATHs
Centralized matching, trust-less lightning settlement. Anything you can put in a Lightning channel can be traded. Our focus is stables on UTXO token protocols. All Bitcoin native :)
Made the compromise of centralized matching as we optimized for performance. The actual capital settlement/trade is trustless on LN.
More than happy to dive into things if you want: t.me/lnpolarity
GENESIS