One does not simply add dollars to lightningOne does not simply add dollars to lightning
I saw this post on X earlier today:
My trembling hand went to my brow and I felt the spirit of Boromir descend upon me.
It's one thing to "Dollars via Lightning" but it is quite another to put some greenbacks on the fastest money known to man.
First off, ain't no one actually put a dollar on Lightning. The closest we've come is a token representing a dollar that promises to have the same value as a dollar.
(Maybe Galoy's implementation of Stablesats counts, although even that doesn't allow you to send dollars from your bank account to a lightning wallet, so it seems it is not yet on par with actual dollars.)
But I was curious, so I downloaded the pre-release app.But I was curious, so I downloaded the pre-release app.
Once you create a new wallet and tap on the receive button, you have the option to receive dollars:
I tapped on that option and got a qr that was quite a but more complicated looking than your standard lightning invoice.
Then, to test it I paid the invoice from a normal lightning wallet. It took longer than normal, but not too long (maybe five seconds?).
Then I got a notification in the Blitz app:
But, like, how did I get to Mordor?
So my question is how are getting dollars on lightning?So my question is how are getting dollars on lightning?
Which is what I asked:
As you can see, I got an answer: it is USDB.
We meet againWe meet again
You may remember that USDB came up last month when the Park CEO paid for coffee with these tokens (#1327410).
Blitz described USDB as a "stable coin native to Spark" and mentioned Flashnet, which they describe as a "trustless swap protocol." This is different than how I understood things working when I wrote the post in December.
Also, there was this comment from that post (#1333987)
๐ Ethan here (building Flashnet)
Magic eden has nothing to do with this flow whatsoever! They were previously a distribution partner for USDB, but that's no longer the case.
The demo shows a Spark wallet paying a Lightning invoice with USDB, where USDB is swapped to BTC on Flashnet and on receipt of BTC forwarded to a Lightning invoice.
This helps a little, but clearly I need to do more research on USDB.
lol trustless! Spark isnโt trustless