Bitceilium

Project's killer feature is to provide seamless experience to access non-custodial Bitcoin via 1inch.

We leverage Bitcoin Lightning Network as a global decentralised "escrow address" which ensures functioning BTC Leg while preserving 1inch function as an auction platform for LN liquidity providers.

We leverage Bitcoin Lightning Network as a global decentralised "escrow address" which ensures functioning BTC leg of the swap while preserving 1inch function as an auction platform for LN liquidity providers. This is a first step towards building a cryptoeconomic system with "virtual" token that reflects available liquidity on the lightning node and serves as connecting link for Bitcoin assets (WBTC, tBTC), stablecoins and other tokens that aim to be tradeable against Bitcoin via 1inch.

However, we also figured out that our platform allows to bring some additional chains to 1inch so we are looking into that. Besides LN BTC and onchain BTC, we are enabling TVM networks to be integrated via Lightning node. Basic HTLC contracts could be adopted for more 1inch-y style of swapping assets later.

On UX/UI side we investigating and hacking towards creating QR-code driven remote signers for 1inch swap contracts. This will allow to access 1inch from mobile Lightning wallets. According to River Financial estimation, in September 2023, there are between 279k and 1.116 million monthly active Lightning of 1-to-8 non-custodial to custodial Lightning users. There were between 1.8 to 3.7 million Lightning wallets, specifically, with at least 122 million wallets downloaded that have access to Lightning. We rely on the tech that is available almost in any Lightning wallet on the market. And expected use case for them is interacting with stablecoins one way or another while using 1inch.