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:
- Lightning and mainnet deposits and withdrawals
- Order Book and Liquidity Pool trading models
- Non-custodial. Neither your sats nor assets can be frozen or seized
- Bridge to NostrAssets for token transference, enabling arbitrage trading and self-custody
- Taproot Asset token minting service with extensive metadata
- Automated airdrops for easy token distribution
- TapAss NFT minting and auction service
- Modern UI with day and night modes
- 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.
Please have a look at the following for Nostr authentication :)
https://github.com/nostr-protocol/nips/blob/master/07.md and https://github.com/nostr-protocol/nips/blob/master/46.md
could you explain further please? authentication of which account?
nice!
must remove the minting from the platform. allow minting locally then upload it. Don't make users relinquish custody
We would like to have both options! Minting via platform for the non-technical, and allowing those comfortable with minting their own to display and auction them on Spank.
No buy option.
There should be the ability to create a buy limit order. Which market are you looking at?
Thank you guys!
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do you mean for registration on the exchange?
Yes. Its unacceptable in 2024 for a Bitcoin service to require Usernames/E-mail & Password. Its a deal breaker to me.
Use LN or Nostr authentication instead. Safer and easier.
So we have a couple of months to fix it then? ;)
I will pass that suggestion to the dev, thanks. Stay tuned, we are building fast!
Why do I need to login to view things in the first place? There's no landing page to tell me what the site does, and nowhere I can check what's traded on it.
The priority was building market-related features but you raise a good point.