Extract:

“How it works

User installs the wallet… Since the “fiat” channel opens automatically, it can be replenished with satoshis immediately after installation. The user can always open a regular channel to any Lightning node if required and if he has bitcoins in the wallet. Upon replenishing the “fiat” channel, the service locks the bitcoin price in euros, opening a position on the exchange Kollider. The user sees a disposable amount in euros in the wallet, which does not depend on the exchange rate of bitcoin. Thus, a new bitcoin-derived asset is created, comparable to a personal stablecoin.”