SideSwap: The Future of Atomic Swaps
SideSwap is a desktop and mobile app purpose-built for trading assets peer-to-peer and for self-custodying assets issued on the Liquid Network.
SideSwap leverages the unique properties of the Liquid Network through:
- Multi-asset support (L-BTC, stablecoins, security tokens, etc.)
- Confidential Transactions, which blind asset type and transaction amount
- Public key cryptography, allowing users to control their own keys for asset self-custody
SideSwap makes it easy to conduct atomic swaps, an innovative way to trade assets without needing to trust trade counterparties. Unlike centralized exchanges or decentralized-in-name-only smart contracts on other platforms, atomic swaps on Liquid have no middlemen or centralized coordinator that can stop your trading. They’re purely P2P among only the parties concerned with a particular trade.
Atomic swaps on Liquid also allow you to remain in full control of your assets through every step of the trade. There’s no need to worry about exchange solvency or how secure their cold wallets are because you hold your own keys until you are ready to finalize a swap.
Unlike other blockchain platforms, atomic swaps on Liquid provide unmatched privacy since transaction amounts and asset types are blinded by default. Only the parties involved in a trade see the important transaction information. This enables users to confidently trade assets without being “sniped” or front-run by maximal extracted value (MEV) bots, common on transparent platforms such as Ethereum or Solana.
Here is an example of an atomic swap on Liquid. Notice input and output amounts in this atomic swap transaction are ‘Confidential,’ – meaning they’re cryptographically blinded to outside observers like us. Privacy FTW!
Get Started Trading
SideSwap is the easiest way to start trading assets trustlessly on Liquid using atomic swaps. Simply download the SideSwap app for your mobile device or desktop, create a wallet, peg in some BTC for transaction fees, and get swapping! The only assets that require KYC are AMP-listed security tokens, such as BMN1 or EXOeu. Users can swap KYC-free with assets like L-BTC or USDt.
Some of the assets you can trade against L-BTC right now using SideSwap are:
Stablecoins
Stablecoins are digital assets backed by a certain fiat currency or commodity like gold.
Security Tokens
Security tokens are tokenized versions of traditional securities that can represent a stake in a real-world asset or company, or provide investors a return in the form of dividends, interest, or profit.
- BMN1, tokenized Bitcoin mining hashrate that delivers mined BTC at maturity
- EXOeu, represents non-voting equity with profit sharing from the publisher of Infinite Fleet, Exordium Limited
- SSWP, tokenized equity in SideSwap Ltd.
Vouchers
Vouchers are tokenized coupons typically issued by merchants.
- B-JDE, a Liquid asset redeemable on the Blockstream Store for one Blockstream Jade hardware wallet
SideSwap has ambitious plans to be the premiere swap platform for assets issued on Liquid. Some of the most anticipated assets to be added include Fuji’s bitcoin-backed FUSD stablecoin and synthetic assets.
Easy Access to L-BTC
As we mentioned, you’ll need some L-BTC for transaction fees before you can start swapping assets on Liquid. L-BTC is an asset backed 1:1 with BTC stored in the Liquid Federation wallet that anyone can audit to ensure there is no additional unbacked L-BTC being created or rehypothecated.
By default, all transaction fees are denominated in L-BTC to strengthen Bitcoin’s network effects and to avoid bootstrapping a new currency.
To get L-BTC, typically, you would need to conduct a time-consuming technical process to transfer BTC to Liquid. SideSwap makes this process quick and easy by providing a simple user interface so you can quickly get some L-BTC in your wallet. The fee structure for SideSwap is as follows:
- Peg-in (transfer BTC to Liquid): 0.1%
- Peg-out (transfer BTC back to Bitcoin): 0.1%
- Instant swaps: 0.75% spread
- Swap market trades: 0.1%
Download SideSwap
The SideSwap app is free and open-source software available on most major platforms, including:
Download now to participate in Bitcoin’s new financial layer and leverage fast transaction finality and industry-leading privacy. Track the price of the assets you are swapping with SideSwap’s informative price charts available for USDt, BMN1, EURx, EXOeu, and SSW
Chat with other SideSwappers on Telegram and share tips and tricks. Be sure to also follow SideSwap and Liquid on Twitter to get the latest news, updates, and more.
The team at SideSwap will also be holding AMAs on r/liquidnetwork and stacker.news for the remainder of the day, so be sure to stop by and ask any questions about their tech, products, and future roadmap.