SideSwap Reports About 600 Redemptions After Reopening L-BTC Swaps
The provider is paying users from its own bitcoin wallet while Liquid federation reserves still cover about 85.8% of outstanding L-BTC.
AI summary
SideSwap reported roughly 600 redemptions after reopening L-BTC swaps, with the provider paying users from its own bitcoin wallet. Liquid federation reserves still cover about 85.8% of outstanding L-BTC, implying a shortfall of roughly 14%. The partial reserve backing and self-funded payouts raise counterparty and solvency concerns for holders of Liquid-issued bitcoin, a niche but relevant segment of the BTC ecosystem.
Narrative history
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53M AGOYou’re reading thisSideSwap Reports About 600 Redemptions After Reopening L-BTC SwapsThe Defiant · Score 45
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21H AGOThe Defiant · Score 72 · via Liquid, 85.8%
