I've built a thing: The Cashu mint Round Robin auditorAn app that perpetually monitors a list of mints by randomly sending Lightning payments between them. Forever. The sats go in a circle until all is lost to fees or rugs. If a mint fails to pay an invoice, it is marked with a scary red label.You can donate Ecash from any mint to add it to the list of audited mints!
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zaps forwarded to @calle (100%)
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33 sats \ 0 replies \ @siggy47 10 Oct
I just posted about this before seeing your post. This could really be fantastic if it can't be gamed.
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11 sats \ 0 replies \ @DarthCoin 10 Oct
Ha! Nice to see how mints can be audited. Very interesting.
Donated some tokens.
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11 sats \ 5 replies \ @fanis 10 Oct
An interesting point is that it works only because mints are blind.
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11 sats \ 4 replies \ @ek OP 10 Oct
Can you elaborate? I am not sure what blind signatures have to do with this. This is using lightning transactions between mints, mints can clearly see where they send sats to.
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243 sats \ 3 replies \ @fanis 10 Oct
By "blind", I mean that a mint doesn't know which user an ecash token "belongs" to. If they weren't blind, mints could always honor withdrawal requests from identified auditors, thus appearing trustworthy while rugging other users.
In other words, it works because a mint can either rug everyone, or rug no one. They can not rug one user in particular.
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55 sats \ 0 replies \ @DarthCoin 10 Oct
blind rug pull 😂😂😂
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55 sats \ 1 reply \ @ek OP 10 Oct
Ah, I see. My point is that in this case, mints could always honor withdrawals to other mints but not anywhere else to make this tool less useful. The mints essentially audit each other.
But at least this means you could always swap to a different, honest mint before withdrawing to your own wallet.
I think BOLT12 can fix this.
Btw, I still think this tool is useful. I am just trying to point out limitations.
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111 sats \ 0 replies \ @fanis 10 Oct
I guess it depends on how much actual mint-to-mint transactions there are. If there are a lot, then audits are hidden in the crowd. Else, what you describe is indeed possible.
And yes, Bolt12's receiver privacy probably fixes this 🫡
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11 sats \ 0 replies \ @TheWildHustle 10 Oct
Really cool.
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11 sats \ 2 replies \ @Thereal 10 Oct
Can you explain this to a newbie like me
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196 sats \ 0 replies \ @DarthCoin 10 Oct
ecash mints are practically custodians for "gift cards" that supposedly should be backed with same amount of sats.
In order to use these custodian mints, you need some kind of audit, to be sure you will not be rug pulled.
So this audit app, is sending random ecash tokens between mints to see if are responding correctly, alive and function properly. Is a simple form of checking the mint.
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180 sats \ 0 replies \ @ek OP 10 Oct
Ecash mints are custodians so they can rug you.
To alert users of a mint that it might be in the process of a rug, this tool automates payments between mints. If a mint fails to pay an invoice, it will be marked so others can avoid it. It doesn’t prevent rugs, it’s only monitoring.
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0 sats \ 0 replies \ @Wumbo 11 Oct
This got mention on Rabbit Hole Recap this week:
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0 sats \ 0 replies \ @jerrybature 10 Oct
This is great.
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