Lendasat, a Bitcoin-native peer-to-peer lending platform, introduced in the present day 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 just like that of the Lightning Community — to ship a seamless expertise for anybody trying to swap BTC and stablecoins “with out giving up self-custody, creating accounts, or counting on wrapped tokens,” in line with a press launch shared with Bitcoin Journal.
Lendaswap will assist Ethereum and Polygon at launch, with deliberate growth to Base, Solana, Binance Good Chain, Arbitrum, and Optimism. Swaps are executed through Arkade, the brand new implementation of the Ark protocol, which ought to ship “on the spot execution” on the Bitcoin facet. Trades are additionally anticipated to be doable in each instructions, so customers will have the ability to swap BTC for stablecoins and vice versa.
“Bitcoin self-custody wants greater than passive holding, it wants infrastructure,” mentioned 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 to be.”
The startup demonstrates the ability 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 doable is an more and more standard know-how amongst Bitcoin fanatics and entrepreneurs.
Not one of the Lendaswap tech stack is open supply but, however the firm informed Bitcoin Journal it’s of their short-term roadmap. Lendaswap is now reside at https://swap.lendasat.com/
