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11 sats \ 2 replies \ @Thereal 10 Oct \ on: Mint Auditor bitcoin
Can you explain this to a newbie like me
ecash mints are practically custodians for "gift cards" that supposedly should be backed with same amount of sats.
In order to use these custodian mints, you need some kind of audit, to be sure you will not be rug pulled.
So this audit app, is sending random ecash tokens between mints to see if are responding correctly, alive and function properly. Is a simple form of checking the mint.
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Ecash mints are custodians so they can rug you.
To alert users of a mint that it might be in the process of a rug, this tool automates payments between mints. If a mint fails to pay an invoice, it will be marked so others can avoid it. It doesn’t prevent rugs, it’s only monitoring.
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