I been wanting to play with Taproot Assets using the Joltz wallet for quite some time but the wallet had a ton of bugs but now with this latest update they actually got the BTC to taproot assets swap feature up and running. The wallet only allows swaps with USDT Tether.
So I decided to give it a shot:
As you can see it is not cheap to swap for dollar tokens. With on chain fees and joltz taking a hefty 1% fee I don’t see how this can compete with Tron on the smaller scale of things for individual users.
But I can see legacy finance or large liquidity providers using this to create massive amounts of dollars tokens with one transaction and then letting customers/users use the tokens. Dollar based loans using this technology makes a lot of sense.
Anyone who wants a free $5 in tether download the joltz app and drop your invoice in the comments and I will pay it!
(Disclaimer I own shares of Joltz)
Hate it or love it I think the technology is really cool. Congrats to lightning labs and Joltz for getting this to work some what easily.
stables are even worse than fiat.
I can see that.
Heading to download the app, I'm certainly taking the $5
Already claimed but the transaction broke the Joltz app
Hoping it's fixed now!
Oh shoot it is!!
Don't know what's wrong with the joltz wallet, it's not loading up the coin wallet address... you gotta fix that
he will burn in hell
Sure, I'll take $5.
tapbc1qqqszqspqqzzpprh6m04jcxvqh3hh9q3hnlf4x7ns6qhy73sgww8hg8yug25smj0qcssy9thp2uhep4gtasypd8t5vll2uelcmfj7dhuz2jyvkp30a20jaajpqssy3mn94yrqj4zgfmktgtz793q5n074npjjwuc8zjwtkdajnl67tlxpgpl6q05psh82mnfwejhyum9wfcxxw309a6ku6tkv4e8xefwd35kw6r5de5kueewve5kuctwvdjn5vfsxqerjakv6jc
Sent!! So it’s an onchain payment! Very interesting
Interesting. I don't see anything yet. I suppose it's waiting for confirmations if you see on-chain details on your end?
Yeah it confirmed . But I think I found a bug
Still showing as nothing received on my end, FYI.
Yeah wallet is borked. Haha maybe too soon. The transaction confirmed but can’t see anything in the wallet at the moment.
Still buggy
Btc or Usdt ?
Usdt
Hey you see the $5 in tethers? In your wallet?
The wallet still shows $0, but the transaction is in History.
@ian__major we need some support!
Ahh yes mah man!!
Impressive milestone.Fees are high now, but this lays the groundwork for BTC native dollar rails.
How was the swap fee?
Paid on chain fees
This soft fork (Taproot) is a very useful thing on BTC...I would venture that it is most useful next to Segwit