Lendasat is a peer-to-peer platform that lends bitcoins. Today, Lendaswap was launched, a non-custodial atomic swap trading exchange, which allows for instant trades of Bitcoins and stablecoins over Ethereum and EVM chains.
Powered by the Arkade protocol, Lendaswap uses HTLC-based atomic swaps — a technology similar to that of the Lightning Network — to deliver a seamless experience for anyone looking to swap BTC and stablecoins “without giving up self-custody, creating accounts, or relying on wrapped tokens,” A press release was shared by Bitcoin Magazine.
Lendaswap supports Ethereum and Polygon initially, with plans for expansion into Base, Solana Binance Smart Chain Arbitrum, Optimism, Binance Smart Chain and Binance Smart Chain. The swaps are carried out via Arkade. This is the latest implementation of the Ark protocolWhat should be delivered? “instant execution” Bitcoin is the only currency that will be supported. The trades will likely be in both directions. This means that users can swap BTC into stablecoins, and vice-versa.
“Bitcoin self-custody needs more than passive holding, it needs infrastructure,” Philipp Hoenisch said, Lendasat co-founder, and added that “Lendaswap is a major step in unlocking more utility for BTC, and marks the first step for BitcoinFi. For the first time, anyone can move between Bitcoin and stablecoins without trusting a custodian, without wrapping, and without asking permission. This is what Bitcoin-native finance should look like.”
Lendaswap is a startup that shows off the strength and potential of Bitcoin scripting, despite it being dismissed by many as inferior to blockchains from the Ethereum era. Lendaswap was made possible through the Ark protocol. This technology is becoming increasingly popular with Bitcoin enthusiasts.
Lendaswap is now live at Bitcoin Magazine. Lendaswap now available at https://swap.lendasat.com/
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Source: bitcoinmagazine.com
