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1  Bitcoin / Project Development / https://reckless.capital Lightning Channel escrow marketplace! on: May 18, 2020, 04:30:05 PM
Reckless.Capital
Marketplace designed to assist Lightning Network participants connect and barter for channels.

Many months ago I was given a Casa node from a coworker and that was my introduction to Lightning Network. Almost immediately I was struck by how difficult it was to receive payments and coordinate with others to establish "inbound liquidity". Inbound liquidity is when another LN participant opens a channel to you, and locks up their own collateral (Bitcoin) until the channel is closed. https://reckless.capital is a website designed to simplify the process by granting users a way of selling and buying their own channels. Users who already have inbound liquidity on LN can choose a price to sell the liquidity for. Once someone has purchased the channel the seller will be prompted to open the channel for whatever time period they decided with the buyer. The website will automatically detect if the channel is open and ensure it's open for the agreed upon period. If the seller maintains the channel, they will be able to collect their fee. If the seller breaks the contract and closes their channel prematurely, the buyer get a refund on fees they paid.

I built the website with the users in mind. Login credentials are following BIP 84, so you may use the login mnemonic to restore any Bitcoin you may have deposited into the website. In addition the marketplace is built on 2-of-3 multisignature contracts to limit counter-party risk and ensure that participants can always access their funds even if the website were to go down. The website was built with support for WebLN and to enable the use of cameras to decode QR codes.

I would appreciate any and all feedback and will be around to answer questions too. Thank you!
Some information and help can be found here https://reckless.capital/help

Source code for the project can be found here: https://gitlab.com/NateBrune/recklesscapital & https://github.com/NateBrune/reckless-capital

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