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There are no channels in Aqua, it uses Boltz API to make swaps between Bitcoin, Liquid and Lightning.
It's going to be most useful for people in South America where USDt is already hugely popular. It's basically designed to bring those people into the Bitcoin ecosystem.
Good point about no channels.
I love Boltz API, cheap way to convert from Bitcoin to Liquid to Lightning, etc.
As I know, you cannot do that in that shitcoin wallet.
Aqua is bitcoin and tether
🤣 Please, liquid and tether are shitcoins...
Liquid is a payment layer like lightning
Liquid is high quality shitcoin, LN is only 2 layer.
You can peg in and out of bitcoin using liquid
You can peg in (true) but you cannot peg out, only the real owner of bitcoin can (blockstream).
Without a unilateral exit mechanism, it's hard to call liquid a proper layer 2. Aside from the federation having a multisig address, no liquid users have any on-chain mechanism to return their funds to btc. You always require the permission of someone else for that.
Which isn't to say it's a scam or not useful. But on an honest, technical level it's really no different to a shitcoin. It just has a high level of trust because of who runs the federation
You can buy liquid on aqua, there is a minimum amount
Do you have to manage channels, or can you just try LBTC with a small amount sats?