It is fair to say that Taproot Assets (used to be called Taro) is languishing. Like that 35 year-old kid who still lives in their mom's basement because they haven't quite figured out that their career as an indie musician is not going to pay the bills.

Anyhow, I read this article (linked above) about Taproot Assets and I don't think I have any better idea what is going on than I did before. It seems to say that stablecoins are what people want, and therefore we should have stablecoins on Bitcoin and Lightning and that's what Taproot Assets is going to do so the whole world can use Lightning.

The potential and utility of a Taproot Assets-enabled, multi-asset Lightning Network is grossly underappreciated.

The article links to a demo video from three years ago that when it was still called Taro. And the docs page says that it was last updated a year ago and it speaks about Taproot Assets like it hasn't been launched yet.

Where's the fun in that?

It just so happens that I remember hearing about a wallet that claimed to support Taproot Assets that was live on mainnet. My favorite way to figure out if something is working is to try to send 100 sats to it. So let's see if we can't get ourselves some Tether on Lightning!

Tiramisu Wallet supports Taproot Assets

There's this wallet called Tiramisu Wallet. I can't quite remember where I heard about it, but I associated it with Taproot Assets in my mind. So I decided to poke around a little and see if it actually was connected.

If you go to their instructions page, it has what looks like a very nice walk through on how to create a wallet and what you can do with it.

Then I came to the FAQ and I saw this:

Oh no! Only on Testnet?! That's no fun!

But is it true? The Tiramisu Wallet homepage sure doesn't look like it is only on Testnet. I decided to create a wallet and see what happens.

Turns out it's not only on Testnet!

I was able to create a lightning invoice in the wallet and successfully send sats to it (from the fedimint ecash app no less!). The deposit took a little minute, and I have absolutely no clue what was going (I'm planning on writing something more about this later):

But it eventually did show my balance (after about 1 minute and a half). Now, I am pretty sure that Tiramisu Wallet didn't create a channel or a node for me, so it's probably some kind of custodial thing.

And Also there just seem to be a bunch of memecoins listed under the Assets tab:

I also noticed that they had a tab for RGB assets. It turns out Tiramisu Wallet supports not one very late-blooming protocol, but two! Unfortunately, the RGB assets looked worse than the Taproot Assets:

I was told I could have Tether on Lightning

I'm going to learn a little more about Tiramisu Wallet and see if I can't actually get myself some USDT on Lightning. If any of you other stackers beat me to it, I'll be most impressed.

102 sats \ 1 reply \ @SimpleStacker 3h

This feels like the long tail of the NFT/ICO craze. People are slowing realizing the demand for that crap is disappearing, but they already halfway built up some shoddy tech to support it.

0 sats \ 0 replies \ @Scoresby OP 2h

Yeah, I was kind of surprised by "assets" they listed. I would have thought they'd at least try for a veneer of sobriety.

112 sats \ 1 reply \ @justin_shocknet 3h

RGB pre-dates Taro, as Taro was basically copy pasta of RGB (big drama when they announced it, internal name was CMYK in contrast to RGB that they copied). I imagine Tiramisu having both is their signaling neutrality.

I think these things are pointless, centralized tokens don't need decentralized networks, particularly where they're competing with more efficient centralized platforms. As a Lightning Maxi can be at peace with them since they are opt-in and would still pay me to route them without any additional overhead.

I don't think shitcoins on Lightning is as much as an "if you build it they will come" thing, but rather Tether via its venture arms and other means spray and praying a bunch of different protocols with the expectation one or more will stick and increase their distribution. There was a 3rd one that died on the vine, Omni, the invoked the Omni brand of old but for Lightning.

17 sats \ 0 replies \ @Scoresby OP 2h

I didn't know about an Omni reboot on Lightning. I'll have to look in to that.

Yes, spray and pray does seem to be the name of the game for Tether at the moment.

112 sats \ 1 reply \ @Fenix 4h

Even though I don't fully understand all the details you present in many of your posts, I like to read them because they will later be references in my thinking. You put pow into them, that's why I like to read.

Thanks!

0 sats \ 0 replies \ @Lumor 1h

Stablecoins are so centralized in issuance and redeemability that it makes more sense for them to continue using Tron one would think.

Maybe LN makes for more network endpoints and is thereby more viral and harder to shut down if governments become hostile to Tether?