[bisq-network/proposals] Export Bisq to RSK (#276)

MwithM notifications at github.com
Thu Oct 29 18:55:09 UTC 2020


I don't have technical skills, but I think it's good to share this idea on my mind for a long time to be shared.

### About RSK

[RSK](https://www.rsk.co/) (or rootstock) is a Bitcoin sidechain that allows smart contracts through Solidity, being ETH compatible.
### Rationale

Bitcoin first layer is becoming more expensive as it succeeds, making small transactions irrational due to its cost. Using a Bitcoin second layer like Liquid or Lightning Network to reduce costs and access other features, like quicker trades or improved privacy is something that Bisq will have to face sooner or later. Smart contracts also offer different features like automating DAO tasks and hopefully remove CPOF.

### Features

- Automate burning man task: this [role](https://bisq.wiki/Donation_Address_Owner) buys BSQ with BTC that has collected in the donation address wallet and burns purchased BSQ. If BSQ becomes a RSK token, fees and trade RBTC funds into dispute that are sent to DAO donation contract could automatically swapped for BSQ at [RSKswap](https://app.rskswap.com/swap) and burned.
- Stablecoins integration: DAI or DOC could be used to trade at Bisq, substantially reducing volatility risk for trades and allowing exchange of fixed price payment methods (Amazon gift cards).
- Fast confirmation times: Various RSK blocks are published every minute.
- Small fees: That could be a good reason enough to move for short term, but I'm not going to pretend something that is not; reduced fees depend on reduced network use. For long term, in case blocks get full and fees goes up, Lumino might get used, which is like Lightning Network but for RSK.

### Risks

- RBTC is not BTC. Bisq would be built over BTC and RSK, each new layer multiply risks.
- Smart contracts are complex.
- Export Bisq DAO from BTC to RSK. A huge challenge.

-- 
You are receiving this because you are subscribed to this thread.
Reply to this email directly or view it on GitHub:
https://github.com/bisq-network/proposals/issues/276
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.bisq.network/pipermail/bisq-github/attachments/20201029/a09a25d8/attachment.html>


More information about the bisq-github mailing list