Be the First to Bridge USDT to the Lightning Network and Earn Exciting Rewards with LN Bridge!
Stablecoins have been instrumental in the explosive growth of Ethereum’s DeFi ecosystem. By offering a stable medium of exchange and mitigating volatility, they have driven unparalleled user adoption.
Now, an even more thrilling opportunity has arrived on the Bitcoin Lightning Network. Lightning Labs has unveiled Taproot Assets for the Bitcoin Lightning Network, revolutionizing it by supporting new assets beyond BTC.
This groundbreaking development allows users to perform instant, globally settled transactions with Taproot Asset stablecoins on the Lightning Network. With an astounding transaction speed exceeding 1 million transactions per second (TPS) — more than 41 times faster than Visa’s peak capability of 24,000 TPS — the Lightning Network is set to undergo a transformative upscale, propelling it to new heights of efficiency and adoption.
This means that the Receiver (Bob) may choose to receive in one token (e.g. USDT / BTC), and the Sender (Alice) can send funds in any token that is different from what Bob chooses and Lightning Network will take care of both the currency conversion and transmission to complete the transaction.
This innovation marks a monumental leap forward, solidifying the Lightning Network’s position at the forefront of financial technology.
For those eager to experience and test this groundbreaking innovation seamlessly and safely ahead of the mainstream, Lnfi is thrilled to introduce LN Bridge. We will be bridging ERC20-USDT from Ethereum into Taproot Assets USDT (TA-USDT) on Bitcoin, serving the interim period while awaiting the official release of USDT. This offers a unique opportunity to engage with the latest advancements in blockchain technology.
Users will not only experience the thrill of trading stablecoins at lightning speed through Lnfi, but they can also earn TRIPLE rewards by participating in our upcoming events.
By bridging ERC20 USDT, we enable:
- Users on Lightning to hold onto an asset not subject to high volatility.
- Payees already accepting Lightning payments in Bitcoins to also accept USDT and payers who want to hold and pay in USDT on Lightning Network.
- Greater financial inclusivity on Lightning Network and the broader Bitcoin ecosystem.
What is LN Bridge?
Earn DeFi Staking Yield generated on Aave on Ethereum (USDT) and Protocol Incentives (TREAT) when you use LN Bridge today!
LN Bridge is envisioned as the pathway into Lightning Network where all token standards converge into Taproot Assets. In the initial phase, users can bridge from ERC2-USDT on Ethereum into TA-USDT on Bitcoin, while enjoying USDT, $TREAT APR rewards, and double LN Trading Points by trading on LN Exchange.
LN Bridge is targeted for launch on Mon, 26 Aug 2024.
How to use LN Bridge: [Link]
*Important*
Please note that the bridging service is only bilateral or one-way, in other words, users would not be able to bridge back from Taproot Assets to the ERC20 token standard. The bridged assets can be traded on the LN Exchange. Additionally, upon the release of USDT in the form of Taproot Assets in the future, the bridged USDT will be made equivalent i.e. the bridged USDT is indifferent from the one issued officially.
In this initial phase, TA-USDT holders on Lnfi will be entitled to 3 types of rewards:
I) USDT APR yield generated from staking on DeFi apps,
II) $TREAT APR rewards as part of protocol incentives and
III) Double LN Trading Points as part of LN Exchange Phase 2: Closed Early Access which will be opened to a selected group of participants to help us rigorously test the first orderbook exchange on the Lightning Network. (More details to be announced.)
FAQ
How is LN Bridge APR calculated and generated?
The LN Bridge APR is calculated and generated through two primary sources:
(a) staking rewards on DeFi apps such as Aave, and
(b) protocol incentives in the form of $TREAT APR rewards until our platform token is launched.
The stipulated APR does not factor in the LN Points Airdrop.
*Rewards will be bi-weekly. Users will need to claim the rewards manually.
*The Lnfi team reserves the right to cancel all rewards at their discretion. Additionally, the trading fees may be adjusted and the Lnfi team will announce any changes in the future.
What is the minimum amount of USDT (ERC20) required for deposits via LN Bridge?
The minimum deposit amount is 1 USDT.
*Important*
Please note that the bridging service is only bilateral or one-way, in other words, users would not be able to bridge back from Taproot Assets to the ERC20 token standard. The bridged assets can be traded on the LN Exchange. Additionally, upon the release of USDT in the form of Taproot Assets in the future, the bridged USDT will be made equivalent i.e. the bridged USDT is indifferent from the one issued officially.
How secure is the LN Bridge?
Due to the absence of decentralized bridge solutions between Ethereum and the Lightning Network, the LN Bridge employs a custodial mode, managing funds through a multi-signature wallet.
Once funds are bridged, they are securely stored on the AAVE platform via smart contracts, allowing users to monitor the amount and flow of their bridged funds at any time.
For additional security, the LN Bridge operates as a one-way bridge, preventing users from independently withdrawing funds to the Ethereum mainnet. This one-way mechanism reduces a smart contract’s vulnerabilities and significantly enhances the safety of users’ funds.
For more information, please refer to our Terms of Use.
