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integrations-lightning-network #11

Open exiledsurfer opened 3 years ago

exiledsurfer commented 3 years ago

Lightning Network Integrations

Prize Bounty

Challenge Description

We’d love to see lightning on - and offramps to Sovryn. Show us how it’s done. We have the liquidity, they have the network.

Submission Requirements

What makes a submission complete?

Judging Criteria

Submissions will be judged by a panel of experts based on their technical merits as well as the likelihood of implementation in a manner adding to the functionality of the Sovryn Protocol / Platform.

Winner Announcement Date

Sunday, July 18th

Useful Links:

Sovryn Code Repo

gitcoinbot commented 3 years ago

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

This issue now has a funding of 409.8361 SOV (12500.0 USD @ $30.5/SOV) attached to it.

gitcoinbot commented 3 years ago

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

Work has been started.

These users each claimed they can complete the work by 2 days, 21 hours from now. Please review their action plans below:

1) cjsaveas1 has started work.

Integrations-Lightning-Network 2) drivepilot has started work.

The lightning network suffers from a bootstrapping problem wrt liquidity provision for inbound channels. The Sovryn community is a community that would benefit from growth within the Bitcoin ecosystem as a whole and therefore would benefit from increased liquidity and usage of the lightning network itself. We propose to build a system to leverage the Sovryn community and resources to provide this bootstrapping liquidity capital to the Lightning network via “Lightning Pool” (Lightning Pool: A Technical Deep-Dive, 2020) whilst also offering participants a great rate of return on their rBTC (YieldFarming?) 3) grmkris has started work.

This project is for anyone who has some RBTC or LIGHTNING BTC and they want to swap them between each other. This service will allow anyone to become an operator of an rbtc / lightnign exchange and earn some % End users will be able to convert between lightning & rbtc 4) pseudozach has started work.

I've forked boltz.exchange which supports submarine and reverse submarine swaps between Lightning and Eth/erc20 tokens. Adapted it to work with RSK chain and SOV.

Please see presentation with details and demo: https://docs.google.com/presentation/d/1MkkXr6Xio08dDMAK7BYcos4evF6R6dPzr2dQD_ZPAZY/edit?usp=drivesdk 5) realpseudozach has started work.

I've created this backup account because the SOV address in my original submission (with username pseudozach) is incorrect. It's actually a testnet address (0x1f3D5A34DF3a136e5a2981CA4BE73BFB3E3EF652), you can check and validate. I'm submitting this application with a correct mainnet address in case I don't get a response from gitcoin support before hackathon submission deadline.

Learn more on the Gitcoin Issue Details page.

gitcoinbot commented 3 years ago

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

Work for 409.8361 SOV (4618.9 USD @ $11.27/SOV) has been submitted by:

gitcoinbot commented 3 years ago

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

Work for 409.8361 SOV (4368.89 USD @ $10.32/SOV) has been submitted by:

  1. @grmkris
  2. @pseudozach

@exiledsurfer please take a look at the submitted work:

gitcoinbot commented 3 years ago

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

The funding of 409.8361 SOV (4372.95 USD @ $10.67/SOV) attached to this issue has been approved & issued to @pseudozach.