"Changes have been introduced to make 10101 future-proof," announced 10101 on X.
"We learned a lot about Lightning, fee management, and the intricacies of the Bitcoin mempool. Despite the challenges, we remain convinced that DLCs are the ideal tool for self-custodial trading on Bitcoin. However, recognizing the need for Lightning improvement, we've adjusted our course to focus on building DLC Channels," was stated in a blog post.
"Building on the groundwork laid two years ago with ItchySats, we are now bringing DLC Channels to mobile devices, simplifying and enhancing accessibility. Today we are using the more advanced library rust-dlc."
"It's important to note that we are not abandoning Lightning. In an upcoming release later this year, we will connect DLC Channels with Lightning, offering users the best of both worlds: the simplicity of DLC Channels and access to Lightning’s large payment network."
You can read more about 10101 vision for 2024 and review of 2023 here.
You're now opening an on-chain DLC channel with your on-chain balance. This brings about greater app reliability, no unexpected forced closes and you can be sure that your trade is collateralized, and verify it using the block explorer.
When you open a new trade, you also open a DLC channel. "On the UX side, you have to pay the on-chain tx fee once and then, even if you close your first position, open others with your off-chain balance within the range authorized by the size of your DLC channel."
If you had a Lightning channel opened with 10101, it has probably been closed. "No worries! You should be able to see your funds on your on-chain balance and open a new trade after updating your app."
"It's not currently possible to fund your 10101 wallet or DLC channel using Lightning, but we will definitely enable it in future releases."
What's changed (since v1.8.0)
Chore: move telegram link into toplevel of settings so that it can be found easier
Feat: update coordinator API to show more details on pending channel balance
Feat: show dlc-channel balance instead of ln-balance in app and in coordinator's API
Feat: allow collaboratively close a channel from coordinator and the app
Chore: don't allow multiple dlc-channels per user
Feat: show dlc-channel opening transaction in transaction history
Feat: allow force-close a DLC channel
Feat: made sure that rollover works with dlc-channels
Fix: correctly remember reserved utxos and don't accidentally double spend
Feat: Allow recovering from a stuck protocol state by resending last outbound dlc message on connect
Feat: update api to collaboratively revert a dlc-channel
Feat: Allow continuing from an offered dlc channel state (offered, settle offered and collab close offered)
Feat: add a new project webapp. Eventually this will have the same functionality as our app (and more) and can be run on a self-hosted server
Chore (webapp): Add API allow requests from any origin (CORS)
Feat (webapp): Allow creating new orders through webapp
Feat (webapp): Show open position in trade screen
Chore: Enforce minimum quantity to 500 on dlc channel open
Feat: Add endpoint to force close ln-dlc channels
Chore: Set minimum quantity to 1 if dlc channel is open
Chore: Enforce minimum margin of 250k instead of min quantity
Chore: Add funding txid to list dlc channels api
Fix(app): Panic during startup: in a situation where we fell behind in the protocol rust-lightning paniced to protect us from publishing an outdated commitment transaction. This was not an issue for us in most cases because the commitment transaction was not publishable anyways due to our dlc-ln channels.