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26 sats \ 0 replies \ @cointastical 3 Feb 2022
When I swap bitcoin ($BTC) with Liquid ($L-BTC) with a custodial swap service (e.g., CoinOS.io) , I don't "send BTC from Bitcoin to Liquid", ... I send my BTC to the swap service and the swap sends to me their L-BTC.
Even if I peg-in, I'm not technically "sending from Bitcoin to Liquid", ... I'm causing my BTC to be locked and that action causes an equivalent amount of L-BTC to be issued.
It's important to use the correct vocabulary, otherwise you have situations like what happened today (with the hack of Wormhole [ETH]<-->[SOL] bridge) where people holding "ETH tokens on Solana" find they actually only held ETH IOU tokens on Solana, and today those IOUs were worth a whole lot less than 1.0 ETH (until Wormhole said they secured funding to make all IOU tokens whole, ... 1:1 with ETH, once again).
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0 sats \ 0 replies \ @cointastical 6 Feb 2022
Related:
Blindex, Dapp on Rsk bitcoin sidechain released
#10498
https://blindex.io
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0 sats \ 0 replies \ @cointastical 3 Feb 2022
That's cool!! (except for the 2% fee part)
[RBTC, BTC on LN⚡, XUSD, SOV] <--- Swap --> [RBTC, BTC on LN⚡, XUSD, SOV]
RBTC: BTC pegged token on RSK
XUSD: Stablecoin pegged to the USD, convertible to USDT, USDC, BUSD, DAI, and RDOC
SOV: Sovryn token
Marduk.Exchange
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0 sats \ 0 replies \ @cointastical 3 Feb 2022
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0 sats \ 0 replies \ @cointastical 3 Feb 2022
Author's Tweet of this:
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0 sats \ 0 replies \ @cointastical 3 Feb 2022
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0 sats \ 0 replies \ @k00b 2 Feb 2022
Yo, that's a lot. I mean even if the miners don't believe in the underlying asset I guess it's in their interest to merge mine anything they can and liquidate it.
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0 sats \ 0 replies \ @TheBTCManual 2 Feb 2022 freebie
I am honestly not convinced on this one, seems fishy to me