nwoodfine

bitcoin

We've been wanting nested MuSig at [Second](https://second.tech) for a while now, so we can distribute Ark server keys and improve security. The problem is, it's specialized cryptographic work, and even if we could do it (we probably couldn't), we don't have the bandwidth (fully focused on getting Bark on mainnet for you guys!).

Jesse Posner ([Vora](https://vora.io) founder) approached us with a solution: fund a grant for Beulah Evangelin to build it. Beulah's already contributing to secp256k1-zkp, just finished Chaincode Labs' secp256k1 workshop, and is perfect for the job.

So we're funding the grant. Jesse/Vora will provide ongoing mentorship. And Beulah's nested MuSig implementation will go into libsecp256k1-zkp as open source, so any project can use it. It's going to be particularly valuable for layer 2s, e.g., Vora needs it for their Lightning implementation too.

Full details on our blog: https://blog.second.tech/nested-musig-grant/


Nested MuSig is on its way (Second are funding a grant)

lightning

We surveyed bitcoin yield to help us price Ark’s liquidity. Many Ark operations lock up bitcoin (refreshes, Lightning payments, offboards), so the cost of capital matters to us. Across exchange savings, DeFi, funds, and Lightning, yields cluster in a 1–4% band. Convenience vs risk seem to be the primary factors driving those rates.

We were pleasantly surprised to see Lightning representing—some very competitive yields without requiring users to give up custody. Demonstrates that users truly see sufficient utility in bitcoin payments to pay those rates. 

Read the article for more comparisons and analysis.

A survey of bitcoin yield: What's the opportunity cost of bitcoin liquidity?

Working on new bitcoin layer 2 payment systems with [Second](https://second.tech)

@nwoodfine's bio

We released our implementation of the Ark protocol on signet today. If you're interested in trying out this new layer 2 and seeing how it can enable simple *and* self-custodial Lightning payments, it's a good time to check it out! We've even set up a "store" where you can spend your signet sats over Lightning :) 