You can't replicate what they achieved with any other "federation". Bitfinex and BitMex are already big enough and long running for me to trust a few thousand sats. And quality of the devs work is very high. Compare Boltz repo to something like Robosats, it is day and night. Rootstock claim they are the longest running sidechain, but I see no progress there in all these years. They comfortably sit with their premined token and are not motivated to do more. Liquid has no token other than Bitcoin, they are incentive compatible with it. And mints, they are just pyrhon scripts with a built-in cheating mechanism (fake wallets).