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431 sats \ 2 replies \ @supertestnet 29 Jan \ parent \ on: Banco: Non-Interactive Swaps bitcoin
Oh, then I withdraw my criticism, except: it did seem to me that you advertised this version of the app as self-custodial.
Other than that, great job! Demoing what you can do with covenants is good and important and a wonderful thing to do on Liquid.
I wonder how hard would it be to port it to actual CTV on inquisition
this version of the app as self-custodial
I will try to re-read and try re-phrase, as the goal of the project was really to build something for a "hypothetical" world where we have "Bitcoin + OP_INSPECTOUTPUT*[VALUE|SCRIPT] opcodes". Totally agree with that L-BTC is an IOU so use it cautiously, on the other hand, trading FUSD for USDT seems pretty reasonable to use a federated sidechain.
great job!
Thank you, sir!
hard would it be to port it to actual CTV
I think would be very clunky or even impossible to make it work with CTV only. Maybe APO tho, but the beauty of using an opcode-based covenant is that it requires zero effort to be supported by all wallets out there, no need to make a special signature on non-standard sighash.
The beauty of this is that the taker can add more inputs and outputs to the fulfilled transaction, without having the contract script to pre-commit to all possible permutations. Like adding the BTC input to pay for fees (think of the FUSD-USDT trading pair) or even delegating to a third party that acts as a fee supplier as a service ie. https://liquid-taxi.vulpem.com
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For the topic, if you want to dive deeper, I suggest this post from Rusty https://rusty.ozlabs.org/2024/01/08/txhash-tx-stacking.html
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