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.