From my understanding you could "bridge" Bitcoin to another L1, but it's always a half baked solution, since you give over custody to get an IOU on the other L1 with no way to enforce the IOU or exit without trusting the custodian, like we see with wrapped Bitcoin.
Then you might as well just use a federated model like fedi or liquid, at least you're distributing the custody risk across multiple custodians.
So far I haven't seen anything that can hit all the requirements you list above, something has always gotta give in the trade off
TheBitcoinManual
npub10mx…n8mj
2024-06-08 21:35:03
in reply to nevent1q…hh96
Author Public Key
npub10mxnle348mzv2dnj0ylgz3zu9gceenc29x9fr4m6mnars66j7vxsnkn8mjPublished at
2024-06-08 21:35:03Event JSON
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"pubkey": "7ecd3fe6353ec4c53672793e81445c2a319ccf0a298a91d77adcfa386b52f30d",
"created_at": 1717875303,
"kind": 1,
"tags": [
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"content": "From my understanding you could \"bridge\" Bitcoin to another L1, but it's always a half baked solution, since you give over custody to get an IOU on the other L1 with no way to enforce the IOU or exit without trusting the custodian, like we see with wrapped Bitcoin.\n\nThen you might as well just use a federated model like fedi or liquid, at least you're distributing the custody risk across multiple custodians. \n\nSo far I haven't seen anything that can hit all the requirements you list above, something has always gotta give in the trade off\n",
"sig": "12639d6373b8be0b4095ea6a5a37b4257befe4241f20a39ff5bd88e44569b592849777589526da900f4f37446d020609c198cd734598875bb112cbc34c3f9ba2"
}