Lendasat, a Bitcoin-native peer-to-peer lending platform, introduced immediately the launch of Lendaswap, an atomic swap trade 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 growth to Base, Solana, Binance Sensible 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 aspect. Trades are additionally anticipated to be doable in each instructions, so customers will be capable of 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 serious 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 doable is an more and more fashionable know-how amongst Bitcoin fans and entrepreneurs.
Not one of the Lendaswap tech stack is open supply but, however the firm advised Bitcoin Journal it’s of their short-term roadmap. Lendaswap is now dwell at https://swap.lendasat.com/
