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0 sats \ 2 replies \ @mango 8 Jan \ parent \ on: Why Fedimint ecash
ok, i found this
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Why would a LN gateway provider accept "fm-sats"? What guarantees them this can be redeemed for sats. Trust the federation?
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Can a federation be the LN G-provider themselves using the pegged-in sats thus acting as a custodial LN wallet?
A couple thoughts:
Yes, a gateway does have to trust the federation that they can swap ecash for sats later. However, users and federation members do not have to trust the gateway.
Therefore, a federation member providing gateway services is totally plasible IMO. It would not turn the relationship into a custodian (still federated). Running a successful lightning node does take more skill than running a federation, so I would imagine not every federation would be able to provide this. I can imagine that federations might eventually pay a deposit to a gateway for this.
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