bob on Nostr: It's hard to find PMF in bitcoin, but stablecash is clearly a product that is working ...
It's hard to find PMF in bitcoin, but stablecash is clearly a product that is working for users! Congrats starbuilder (npub1mz3…mymx)!
quoting note14k6…4vezAND… WE ARE SOLD OUT! No more USD cashu tokens...!
What started as a proof-of-concept (POC) test last month with stable channels and Cashu mints turned out to be a huge success!
TL;DR: If you want us to keep this going and add more liquidity, please like and repost this for visibility.
We are actively working on increasing liquidity to continue this initiative. If you are interested in providing liquidity and earning some satoshis (sats), please DM me!
Stable Channel: The goal is to maintain a balanced channel by pegging the amount of sats to $1000 on one end. From May 13th until now, the stable channel has remained exceptionally stable, maintaining $1000 while the BTC price fluctuated from $63,000 to $71,000 and back down to $60,887. The channel balance on the stable receiver side never fell below $1000.
Stats on Stable channel:
Days uptime: 44
Payments made: 10,333
Largest Stable Receiver Amount: $1,014
Smallest Stable Receiver Amount: $984
Cumulative Payments: $17,912
Mean Payment: $1.73
Median Payment: $1.52
Standard Deviation: 1.26
Almost $18,000 in payments back and forth!
Cashu Mint: umint.cash is the only cashu mint that supports USD tokens now. Anyone can use a supported wallet to mint tokens by paying a lightning invoice. While many big stablecoin projects struggle to show proof of reserves/liabilities, we provide that info real time on the mint website. Dollar balance stays the same and not subject to volatility...!
Stats on Cashu USD Mint:
Casu tokens minted: 18,059
Cashu tokens melted: 13,997
USD value of cashu tokens minted: $5,500
USD value of cashu tokens melted: $4,501
Number of cashu wallets supported: 3
And the good thing is that these statistics are available real-time on the mint website https://umint.cash/ All we need to do now is to keep increasing the liquidity..! We are not bounded by exchanges or treasuries.. All within Bitcoin...
Please like and repost for visibility…!
Thanks for everyone involved in making this a success…!
Stablechannels by tonklaus (npub1m0s…qp5h)
Boardwalk cash wallet by bob (npub1cd0…xlvx)
Master of cashu calle 👁️⚡👁️ (npub12rv…85vg)
