Fedimint vs Liquid
I have been recently thinking about Fedimint and Liquid and I have been noticing, that even though they use completely different technologies, they are comparable in their properties. This has been my understanding so far:
Trust Model Both use a federated trust model, where a number of entities coordinate to create tokens and post transactions. In both technologies the issued tokens behave like IOUs in the traditional baking system and there are the typical risks of a rug pull if the federation misbehaves. Furthermore there is the risk of inflating the token supply, with different methods to combat this through auditing in both technologies.
Privacy Liquid obfuscates the transaction amounts, but the movements from address to address are still traceable. On Fedimint there is no connection between the person receiving the token and the person spending the token. Therefore Fedimint seems stronger from a privacy perspective.
Throughput Liquid uses a blockchain, where due to the federated model the block time is very short. Fedimint stores information in a database and actions have to be signed by a certain number of federation members. Due to this coordination effort required by Fedimint members, I assume its overall throughput is comparable to that of Liquid.
Transaction Fees Fedimint is entered directly through a regular lightning transaction, while liquid requires an additional swap service, like Boltz and therefore additional fees. Once inside the system, liquid charges a small fee for each transaction while in Fedimint it might be free or also cost a small amount depending on the mint. This is also something that will evolve over time as adoption of the technologies grow.
Other tokens Liquid supports other tokens like stablecoins and I am not sure if Fedimint also supports this function. However, since stablecoins and other tokens are generally looked down upon here, I don't think this point warrants further exploration.
So in total it seems to me like Fedimint is currently the superior of the two technologies due to its superior privacy and comparable characteristics in other areas. Do you agree with this conclusion? Or are there any other important things, that I am missing?