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How low do you think LN<>Onchain swap fees will go?
1532 sats \ 7 comments \ @pillar 10 Aug 2023 bitcoin
Since both Bitcoin and the Lightning Network are open systems, anyone can become a swap provider between onchain sats and LN sats.
Eventually, this means crazy strong competition, until swapping becomes somewhat of a commodity service and the price becomes pretty close to the cost of maintaining the swapping service. How low do you think this will be?
0.1%-0.5%41.2%
0.01%-0.1%41.2%
0.001%-0.01%11.8%
<0.001%5.9%
17 votes \ poll ended
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379 sats \ 1 reply \ @2bithits 10 Aug 2023
Onchain fees will determine that
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0 sats \ 0 replies \ @HYPERBITCOINZATION 11 Aug 2023
Correct answer. Speculation is the enemy of true understanding.
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138 sats \ 4 replies \ @fanis 10 Aug 2023
I hope ultimately it will be a purely p2p market where coincidence of wants happen at a sufficient scale to make it seamless. Nostr can help in that. If so, ultimately the main part of the fee would be routing and on-chain fees, since there are no middlemen anymore.
But I don't think fee will sustainably go anywhere below 0.01%. That's already quite cheap imo.
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107 sats \ 2 replies \ @pillar OP 10 Aug 2023
I read that the Bisq project actually has on its roadmap the development of P2P LN<>Onchain swap market. If the UX is nailed, and perhaps there are even programmatic APIs so that other apps can integrate, it would be awesome.
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192 sats \ 1 reply \ @fanis 10 Aug 2023
Yep. I don't know where they're at with this, it's been a long time since they announced it. But I think they need to rework the whole thing first.
In the meantime Peach already added this feature.
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0 sats \ 0 replies \ @cryptocoin 10 Aug 2023
That's just awesome that Peach has that.
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430 sats \ 0 replies \ @supertestnet 11 Aug 2023
Reminds me of swap service: https://github.com/supertestnet/swap-service
No one uses it but it's available. Anyone can run a swap server and charge for swaps.
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