Federation-based solutions like fedimints, cashu, and spiderchains are all similar in that some group of off-chain operators receive bitcoin payments on-chain, and then mint new tokens backed (to varying degrees) by those new bitcoin deposits off-chain.

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The Bitcoin Renaissance Is in Full Swing

DarthCoin

>Federation-based solutions like fedimints, cashu, and spiderchains are all similar in that some group of off-chain operators receive bitcoin payments on-chain, and then mint new tokens backed (to varying degrees) by those new bitcoin deposits off-chain. 

Cashu is [not a federation-based solution][1].

[1]: https://stacker.news/items/86919