Synthetic USD is one of the most interesting ideas I've seen in this space in the last few years - love to see you guys pushing some of that forward into your application.

So many bitcoiners (and crypto people, in general) are chasing fool's gold by trying to hold USDC/USDT on chain. In each and every case, the asset has a chokepoint in the physical world that is subject to seizure. Taro to hold USDC, IMO, is wasted effort. We need to find ways to make bitcoin, itself, a derivative that tracks USD in a trust minimized way.

In a twisted irony, a synthetic USD coin (built on an inverse-perp swap of BTC) is the most disrupting thing that could happen to the USD. Imagine: A USD equivalent that no matter how hard they try, the US Gov can do nothing to stop it.

A few questions for you on the synthetic USD front:

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Have been following your project with great interest for the past few years. Most interested to see how you can use your talents to create open infrastructure that doesn't lock people into your particular ecosystem!

Thanks for your contributions so far, and excited to see what comes next, OW

I'm extremely interested in the concept of using inverse perpetual swaps to create "synthetic" USD. Other projects are pursuing this (Kollider, Galoy, etc), but I am not at all interested in Hayes' proposal that involves centralized custodians + an ETH DAO (lol) to manage the effort.

It would take coordination, but it feels like this could be done on lightning with a Robosats-like maker/taker interface + Cashu for transferring the synthetic USD.

If this can't be done in a decentralized and trust-minimzed fashion, it really isn't much better than the Tether/Circle solutions that already exist.

Where is the documentation for this? Remarkably mum on the details for a project claiming to be open source.

Does this even use bitcoin?