Lendasat, a Bitcoin-native peer-to-peer lending platform, introduced as we speak the launch of Lendaswap, an atomic swap change enabling on the spot, non-custodial trades between Bitcoin and stablecoins throughout Ethereum and main EVM-compatible chains.
Powered by the Arkade protocol, Lendaswap makes use of HTLC-based atomic swaps — a know-how much like that of the Lightning Community — to ship a seamless expertise for anybody seeking to swap BTC and stablecoins “with out giving up self-custody, creating accounts, or counting on wrapped tokens,” in response to a press launch shared with Bitcoin Journal.
Lendaswap will help Ethereum and Polygon at launch, with deliberate enlargement to Base, Solana, Binance Sensible Chain, Arbitrum, and Optimism. Swaps are executed by way of Arkade, the brand new implementation of the Ark protocol, which ought to ship “on the spot execution” on the Bitcoin aspect. Trades are additionally anticipated to be attainable in each instructions, so customers will be capable to swap BTC for stablecoins and vice versa.
“Bitcoin self-custody wants greater than passive holding, it wants infrastructure,” stated Philipp Hoenisch, co-founder of Lendasat, including that “Lendaswap is a significant step in unlocking extra utility for BTC, and marks step one for BitcoinFi. For the primary time, anybody can transfer between Bitcoin and stablecoins with out trusting a custodian, with out wrapping, and with out asking permission. That is what Bitcoin-native finance ought to appear like.”
The startup demonstrates the facility and potential of the Bitcoin scripting language, which had for years been dismissed as inferior to that of Ethereum-era blockchains. The Ark protocol used to make Lendaswap attainable is an more and more in style know-how amongst Bitcoin fans and entrepreneurs.
The good contract concerned within the dex is open supply, in addition to the entrance finish interface. Lendaswap is now dwell at https://swap.lendasat.com/
