Hello everyone, I am proud to announce that the first milestone of the Sovryn grant for building Lightning<>RSK has been delivered.
LN-SOV Bridge is a fork of Boltz. We are a team of independent developers working to bridge the gap between Lightning and Sovryn on RSK. Our work is supported by a grant from Sovryn
What is LN-SOV Bridge?
LNSOV is an instant and non-custodial crypto currency exchange that focuses on the adoption of second layer scaling technologies like the Lightning network and the privacy of its users. We neither use any trackers nor log any data that could identify our users.
Please note that this app is currently in its beta stage and under heavy development. If you experience any issues or have some feedback feel free to find us on Sovryn Discord channel.
Testnet version and github repository can be found here: https://lnsov.vercel.app/
Mainnet deployment is expected for the next milestone.
The end goal of this project is that anyone will be able to run this on their personal node and be mini-exchange for their community
I personally think it will be cheaper and more importantly a lot faster.
Faster because, instead of waiting 1 conf on bitcoin chain ~10 minutes, you would wait ~30 seconds for 1 RSK tx and 1 LN tx. (not to mention pegin/pegout)
Cheaper because, if people can run this themselves (as we envision) on their nodes and provide liquidity then the fees will be a race to the bottom. It’s trustless anyway so why pay more fees? Only differentiator would be RSK/SOV liquidity and LN routing success.
1- This is beta software so let us know any issues you face, any feedback/feature requests. Feel free to reach out to us - @pseudozach@Kris - here on discord for support or open issues on github repos for bug reports.
2- Currently bridge has low liquidity (~2m sats on each side) so please test with small amounts. We’re discussing internally on ways to increase liquidity and of course it will depend on demand. So comment and let us know it this is useful to you, spread the word.
3- We’ll actively manage the server and the LN node and improve connectivity as always channel opens are appreciated: Node: 0214d3cf7140506ed6c0 | 1ML - Lightning Network Search and Analysis Engine - Bitcoin mainnet
Note that testnet version will remain at this deployment: lnsov-iqhmc31wb-pseudozach.vercel.app
yes, dockerization and ready-to-install app on umbrel will be released as part of Milestone-4 and 5 which we target to have within 1-1.5 month. We plan to have 1-click deployment and tools required for operation with as little technical info as possible.
We have just merged SOV <-> Lightning swap support to the bridge. You should be able to swap Sovryn token for Bitcoin on Lightning or vice versa within 1 minute in a trustless way. This closes Milestone-3 of our grant pending approval from Sovryn team.
Hi, tested this out, this is exciting stuff. Although i had troubles. 1 transaction succeeded, 1 failed.
Some feedback: scanning the lightning invoice works just fine, had no issues. HOWEVER i was unable to scan the barcode on a different device (device can’t scan) and so i had to copy the lightning invoice. This did not work for some reason and the message “Reverse swap failed, could not send on-chain coins” showed up.
Not sure if this was related to the invoice, most likely related to amount and timing. When I check our logs only failures I see are due to our swap node running out of liquidity on one side. In this case RBTC side.
This is good news of course everyone seems to get onboarded to RBTC via LN.
And we are working on ways to automate liquidity balancing + discussing with Sovryn team to see if they can provide additional buffer liquidity.
I was playing/testing it a bit more and i had the same issue several times yesterday and today: Lightning transaction was confirmed, but i could not trigger Claim Contract Call via your website. Metamask would not interact with it in any way. Had to close everything and wait until the sats get refunded after some hours. Nasty Bug, not necessarily related to you, could also be Metamask.