musdom on Nostr: Fedimint is meant to improve on custodial Bitcoin services. Harder to rug: You pay ...

Fedimint is meant to improve on custodial Bitcoin services.

Harder to rug: You pay onchain into a multisig wallet controlled by multiple people running the mint, and get equivalent BTC backed tokens.

Privacy: You can move tokens without the issuer knowing who’s involved.

However, it doesn’t solve the problem of the mint being able to back tokens with fractional reserve iinm.