Lendasat, a Bitcoin-native peer-to-peer lending platform, introduced right now the launch of Lendaswap, an atomic swap trade enabling instantaneous, 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 seeking to swap BTC and stablecoins “with out giving up self-custody, creating accounts, or counting on wrapped tokens,” in accordance with a press launch shared with Bitcoin Journal.
Lendaswap will help Ethereum and Polygon at launch, with deliberate enlargement 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 “instantaneous execution” on the Bitcoin aspect. Trades are additionally anticipated to be doable in each instructions, so customers will be capable to swap BTC for stablecoins and vice versa.
“Bitcoin self-custody wants greater than passive holding, it wants infrastructure,” stated 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 seem 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 standard know-how amongst Bitcoin fans and entrepreneurs.
The smart contract concerned within the dex is open supply, in addition to the front end interface. Lendaswap is now reside at https://swap.lendasat.com/
