Key information:
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It is at the moment in part 2 of early entry for a closed viewers.
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This exchange makes use of the Nostr protocol.
LN Exchange is a novel resolution that expands the use instances of the Lightning Network, the second layer for bitcoin funds, by being constructed on high of it.
It is a platform whose goal, as reported in the challenge documentation, is to supply a decentralized exchange home. the place to commerce bitcoin and taproot belongings P2P, spot and perpetual.
Taproot Assets are a protocol with the means to concern Bitcoin belongings that may be transferred by way of Lightning Network channels. These Lightning belongings are based mostly on the enhancements of the Taproot replace.
LN Exchange is powered by Lnfi Network, a monetary layer that strikes asset tokenization to the Lightning Network and integrates the Nostr protocol as the messaging layer that “allows users to submit their bid and request orders to LN Exchange to match and execute orders.”
LN Exchange is in personal testing part
Through a tweet on social media platform X, LN Exchange introduced that “the first order book has arrived on Lightning!” Starting on September 2, 2024, sure customers included in the closed whitelist can now enter the platform’s early part 2.
According to a different publish from the exchange, by assembly sure necessities new customers can enter the whitelist. Method one is to verify in case you are eligible to enter and apply in a type, which could be entry utilizing a QR code.
Step two entails transferring 1,000 USDT by way of the platform’s interchain bridge, LN Bridge.
What does LN Exchange at the moment provide?
Currently, the buying and selling platform permits connecting to Nostr by way of wallets that help the Injected module and the OKX pockets, TokenPocket, OneKey and the Albi browser extension.
At the time of writing, LN Exchange permits entry to the buying and selling window and observe it from outdoors. It is inconceivable at the second except you belong to the whitelist of the platform.
The buying and selling window has the attribute integration with TradingView and, usually, it doesn’t differ a lot from different easy buying and selling modules constructed on second layers: it lets you see the order e book on the proper and to modify from spot to perpetual in the high menu.
Offers as well as a factors and rewards system by way of which customers can earn LN factors for his or her contribution in the numerous phases of the challenge. Although the platform doesn’t make clear what these factors are for or the way to use them.
The platform additionally goals to supply different companies in its full type. One of them is a split-custody service “where user funds are securely stored on LN Exchange’s Lightning node.”
In the future, LN Exchange intends to include Pocket Universea system that requires “both the node operator and the user to approve any fund movement requests,” the documentation says. They additionally intention to supply a full self-custody and node setup service on the Lightning Network.
With these initiatives, LN Exchange joins different options that exist already on Lightning and that permit cryptocurrency buying and selling. One of them is LN Markets, which permits derivatives buying and selling (futures and choices) on the second layer. 10101 is one other buying and selling platform on Lightning, additionally for derivatives.
