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24 sats \ 1 reply \ @k00b 4 Jun 2022
I love y’alls design.
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10 sats \ 0 replies \ @fuji_money OP 4 Jun 2022 freebie
😍😍😍
🗻🗻🗻
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55 sats \ 1 reply \ @02d10975a1 4 Jun 2022
Not really a fan of the centralized Liquid shitcoin sidechain.
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34 sats \ 0 replies \ @fuji_money OP 5 Jun 2022 freebie
Fair. We made it possible to deposit/withdraw via lightning submarine swaps to allow you to keep the minimum necessary only for collateral.
If you look at financial products in the Bitcoin ecosystem, they are all REALLY custodial. The liquid network is ceteris paribus less trustless and prone to censorship, but highly liquid when it comes to no-KYC trading and verifiable 1:1 BTC peg.
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30 sats \ 4 replies \ @om 5 Jun 2022 freebie
So it's somewhat like DAI except the stablecoins are minted and burned by a trusted party (Fuji) instead of a smart contract as is the case with DAI?
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10 sats \ 2 replies \ @fuji_money OP 9 Jun 2022 freebie
No, the covenant that holds your collateral requires you to burn it to redeem it. There is no trust involved in doing this.
The asset is minted cooperatively, between the user providing collateral UTXO and Fuji providing the reissuance token that grants power to issue: this process is like an atomic swap, so it either goes through or not.
Fuji can theoretically mints assets without collateral, but this being verifiable onchain by anybody if it happens.
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10 sats \ 1 reply \ @om 10 Jun 2022 freebie
I see. Let me guess the reason you have to do centralized minting instead of whatever DAI is doing: there's no Chainlink on Liquid so somebody needs to be the price oracle?
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10 sats \ 0 replies \ @fuji_money OP 11 Jun 2022
Minting is a cooperative process. That could be made non-interactive, locking the re-issuance token in a covenant, but you would need an oracle attestation and make on-chain calculation to make the mint. We are going to explore that eventually but seems an over-kill, putting more pressure on oracle to be available at mint time also, besides liquidation.
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0 sats \ 0 replies \ @moel 7 Jun 2022
Looks like it.
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31 sats \ 1 reply \ @cryptocoin 4 Jun 2022
So once created, my fUSD are like any other Liquid asset ? (e.g., I could receive them using my account on CoinOS, or my Blockstream Green wallet?)
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40 sats \ 0 replies \ @fuji_money OP 5 Jun 2022 freebie
Exactly. They are bearer assets you can send/receive peer to peer with any Liquid Wallet.
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30 sats \ 2 replies \ @TheBTCManual 5 Jun 2022
very interesting, keen to see how the bridge between liquid and lightning allow for more non KYC access to both bitcoin and synthetic assets,
Will this be something that other marketplaces like hodlhodl or a sideshift could use or is it stand-alone service
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10 sats \ 1 reply \ @fuji_money OP 21 Jul 2022
Yes, anybody could send/receive FUJI assets and eventually integrate as financial primitive in their Bitcoin applications
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10 sats \ 0 replies \ @TheBTCManual 22 Jul 2022
That sounds pretty good in helping keep bitcoin dark, the P2P market seriously needs more liquidity and if this can help that would be great, good luck with the launch
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20 sats \ 1 reply \ @KingZing 5 Jun 2022
this is interesting, what is the vision for fUSD? only for liquid network or expanding to something like usdt into CEXs?
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10 sats \ 0 replies \ @fuji_money OP 11 Jun 2022
Any CEX with Liquid support can add it as a trading pair easily.
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0 sats \ 0 replies \ @BlokchainB 5 Jun 2022
Should I feel bad for closing a channel that has an uptime of 55%?
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0 sats \ 1 reply \ @nout 6 Jun 2022
On a high level - what is the difference between this and LUNA?
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10 sats \ 0 replies \ @moel 7 Jun 2022
UST was an algorithmic "stable" coin. The too-little-too-late BTC backing was bolted on later and useless: after all, if your algorithm works, you don't need BTC backing. And if your algorithm does not work, then a little BTC backing will not keep you afloat.
This fUSD however, is an at minimum 150% "backed" stable coin. The backing is only in Bitcoin or Liquid-Bitcoin (LBTC?)
So it's a lot like DAI [1], only they are backed by multiple assets instead of only Bitcoin.
[1] https://makerdao.com/
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0 sats \ 0 replies \ @2bithits 5 Jun 2022
What's the synthetic USD about?
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0 sats \ 1 reply \ @zuspotirko 5 Jun 2022
Fascinating that the Liquid community is still alive and moving forward. I thought the Bitcoin community already decided on Lightning
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20 sats \ 0 replies \ @timechain 5 Jun 2022
They do some different things. Also, not too sure how much Liquid innovation is coming from outside Blockstream.
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0 sats \ 0 replies \ @Brunswick 5 Jun 2022
Liquid is how all the shitcoins will swirl downward and eventually be flushed to be never seen again
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0 sats \ 0 replies \ @BlokchainB 4 Jun 2022
Waiting for these synthetic stocks 😄
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0 sats \ 0 replies \ @iguano 4 Jun 2022
This looks very promising...
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