Interesting for the mining part, it may sound stupid but I was not aware Liquid miners do not mine L-BTC. Indeed with the peg it makes sense. I wonder if their incentive is then only fee based.

For the ecosystem I was surprised to find Coincheck and DMM Bitcoin. I used both exchanges in the past and couldn't verify that Liquid is used. Maybe to withdraw... I didn't reinstall their app just to check though. Thank you for the article.