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I thought they were IOUs for sats
That’s what we have now.
Since we don’t want to be a custodian anymore, you either have to attach a wallet to pay and receive real sats over lightning or deposit sats to get cowboy credits in return which you can then spend like sats for posts, comments or zaps but nobody can withdraw them.
Since there is a 30% sybil fee on zaps, the half life of a cowboy credit is 2 zaps. All fees go to rewards and are paid out in sats, no matter if you have a wallet attached or not.
sats only go from wallet to wallet
Yes