I would love to see someone combine the stability of DAI with the privacy of Zcash shielded transactions. That might actually make cryptocurrency usable for day to day transactions!https://twitter.com/lrettig/status/1073194560694693888 …
That's a good idea, but requires: 1- an oracle for the exchange rate 2- an enforcement mechanism for this rate (hence plain LN is not enough) 3- not so much volatility that the short seller gets wiped out faster than they can enforce the closing then exit BTC altogether.
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there is no enforcement except the immediate channel partner. If the rate changes in your favor, you request a state update, if they refuse to sign, they are in breach and you close the channel on them (or discuss out of band). Any oracle works that you agree on.
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also one would post their contract breach publically, causing a reputation hit
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