With the October 18th release of Taproot Assets on mainnet by Lightning Labs, decentralized finance on Bitcoin is now a reality. Stablecoins and other financial instruments can now operate on Bitcoin, accelerating Bitcoin’s absorption of fiat value and TradFi systems.
Having learned from the various altcoin “testnets,” Bitcoin now has a golden opportunity to implement true decentralized finance (“BitFi?”) in a competent and legitimate manner. Towards that goal, Spank Exchange (cheekily named for the popular abbreviation, TapAss) is now live.
Current Features:
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Lightning and mainnet deposits and withdrawals
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Order Book and Liquidity Pool trading models
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Non-custodial. Neither your sats nor assets can be frozen or seized
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Bridge to NostrAssets for token transference, enabling arbitrage trading and self-custody
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Taproot Asset token minting service with extensive metadata
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Automated airdrops for easy token distribution
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TapAss NFT minting and auction service
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Modern UI with day and night modes
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Low trading fee of 0.5% (re-invested within Liquidity Pool when trading there)
Planned Features (expected pre-2024):
- NFT launchpad
- TapAss stablecoins (USD, EUR & CNY), pegged algorithmically to fiat prices
- Full suite of Bitcoin Finance (“BitFi / BiFi”) products: options, futures, lending, leverage, prediction markets, etc.
- Extensive documentation
Try Spank today! Remember to keep funding amounts sensibly low. After testing, please join us on Telegram (https://t.me/tapassspankers) to ask questions or offer feedback.