5 sats \ 0 replies \ @starbuilder 4 Aug 2022 \ on: Stablesats: Transact USD over Lightning without stablecoins or fiat integration bitcoin
I am fan of Galoy and user of Bitcoin beach wallet. I have huge respect for them and what they have done to lightning community. However, this stablesats product is not a working product and using an exchange to hedge only increases the risk. Also funding rate fee on hedging is around 0.02% ~ 0.05% per 8 hours. May be this will work for short term 1-2 days but not for more than 30 days.