[bisq-network/proposals] Bisq 2.0 - A simplified DEX (working title Sisq) (#331)

Félix notifications at github.com
Tue Apr 27 10:03:20 CEST 2021


> If I understand your proposal right it would only work between 2 traders who use a BTC/BSQ trade to lock up the deposit, then use that lockup funds as security for other out of band trades like LN-fiat. Once a trade is done they can re-use the already locked up deposit for another trade.
> But that limits it to 2 users who want to repeat traded which I assume is a minor use case.
> To re-use the bond for other trade would have the problems of the old off-chain trade protocol idea.

Not exactly, you could have several use cases:

1. Traders who use the order book to contact other traders and exchange small amounts _without_ any security feature. This could be a very frequent use-case for small amounts.

2. Traders who use this system for multiple trades with 1 trading partner secured by a BSQ/BTC tx

3. Traders who use a BSQ bond (for example bonded market makers) to secure multiple trades with multiple trading partners.

For case nº 3 security would not be perfect, but the size of the bond would be a good indicator of how much you can trust a trader and a proxy for reputation. If we create the role "bonded market maker" and a trader locks up 1000 BSQ... takers of his offers would be relatively safe exchanging $50-100 worth of LN-BTC, knowing that he risks much more in having his bond burned by the DAO if he is scamming people.

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