Liquid <-> LN atomic swaps via Boltz \ stacker news ~bitcoin

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2044 sats \ 10 comments \ @SpaceHodler 13 May 2023 bitcoin

Just found out from Cyph3rp9nk's nostr note these have launched. https://liquid.boltz.exchange/

They charge a 0.1% fee.

I'm not running my own LN node yet, so it seems like a good way to withdraw from LN-enabled exchanges when base layer fees are high, at least until they start supporting Liquid. In my case the flow can be like this:

Withdraw regularly DCA'd amounts from the CEX (Kraken in my case) via LN and bridge to Liquid.
Store temporarily on Liquid
Once you've built up a larger amount on Liquid and when the base chain fees are reasonable, bridge to BTC (sideswap.io charges 0.1% too).

Up until now, my flow was to withdraw either to Muun (which was not sustainable, and is a disaster now...) or coinos.io (custodial) for intermediate storage, neither of which was ideal.

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65 sats \ 3 replies \ @2bithits 13 May 2023

Thanks for sharing

Yeah I don't mind holding some liquid for short periods of high onchain fees. You could look at it as short term cold storage for up to a year or so. Peg out if the fees are low or swap back into lightning if they're still high.

0 sats \ 2 replies \ @DarthCoin 13 May 2023

Thank you for giving away your sats. More sats for me. HFSP

10 sats \ 1 reply \ @2bithits 13 May 2023

I think liquid losing its peg is a very miniscule possibility. What do you think of fedi mints or cashu? Would they be "giving away your sats" too?

10 sats \ 0 replies \ @bleetube 15 Feb

I mean, technically speaking, that's exactly what you're doing. Cashu != Sats

I kinda like the liquid swaps idea though. It'll work until liquid runs into its own scaling problems

25 sats \ 0 replies \ @iguano 14 May 2023

I think liquid is a very solid way to store bitcoin short and mid term. Its pegged 1 to 1 and validate by 15 member federation (way better than any exchange or custodial wallet or altchain peg like WBTC). and also you can use hardware wallets and that kind of onchain security measures. It would be nice to see a Muun-Liquid like wallet experiment.

10 sats \ 0 replies \ @TheBTCManual 14 May 2023

Nice find, makes for a solid option if you're buying custodial LN or you don't have your own LN channel and you just want to take a bit off the table without hitting the base chain.

10 sats \ 0 replies \ @BlokchainB 14 May 2023

Great job 👏 tested it today and works well.

10 sats \ 0 replies \ @slender_trikes_0c 13 May 2023

This is great! Thank you for posting. Cold funds are on bitcoin main chain of course. But for hot funds, current favorite mobile wallets are Phoenix and SideSwap. Also used coinos.io when needed to move between, but look forward to trying this solution!

10 sats \ 0 replies \ @om 13 May 2023

I love it. As I've said earlier, that could be a part of some kind of Liquid Muun wallet which would do fine until proper LN over Liquid.

0 sats \ 0 replies \ @DarthCoin 13 May 2023

I don't give a shit about liquid. Is useless for regular bitcoin guy.