Evolution of Company: From Crypto Swaps to Lightning-Based Trading

What applications exist for Bitcoin self custodial finance? Philipp Hoenisch, founder of 10101 (pronounced ten-ten-one) joins me on the show to talk about bitcoin trading without counterparty risk. We discuss:

• DLC overview and basics
• DLC channels and lightning
• 10101 walkthrough
• “Funding rate”
• Synthetic stablecoins
• For individuals or business?
• Risks and things can break down

Prior Episodes:

• SLP349 Chris Stewart Bitcoin DLCs & Stablechannels
• SLP219 Nadav Kohen – What You Should Know About Bitcoin DLCs
• SLP519 Self Custodial Bitcoin Finance with Matthew Black of Atomic Finance

Links:

• X: @bonomat
• X: @get10101 
• Site: 10101.finance

Sponsors:

• Swan.com (code LIVERA)
• CoinKite.com (code LIVERA)
• Mempool.space
• Nomadcapitalist.com

Stephan Livera links:

• Follow me on X: @stephanlivera
• Subscribe to the podcast
• Subscribe to Substack

Timestamps/Chapters:

• 00:00 - Introduction and Background
• 05:58 - The Concept of Discrete Log Contracts (DLCs)
• 10:28 - Non-Custodial Trading and DLC Channels
• 12:46 - Using the 10101 App
• 21:32 - Expiry and Funding Rates
• 26:01 - NomadCapitalist.com
• 27:47 - Coinkite.com
• 28:57 - Market Makers and Trade Sizing
• 32:05 - Limits and Future Plans
• 35:55 - Security and Hardware Wallets
• 37:41 - Non-Degen Uses for 10101
• 38:50 - Comparison of Stable Coin Concepts
• 41:58 - High Interest Rates and Risks
• 48:33 - Swan.com
• 49:42 - Mempool.space
• 50:44 - Comparison of Stable Value Options
• 56:49 - Technical Complexity and Education
• 58:43 - Future of the 10101 App
• 01:00:45 - Reasons for Lack of Non-Custodial Finance Adoption
• 01:03:56 - Closing Thoughts