By EZ in Releases — Mar 26, 2024

CommerceBlock Introduced Lightning Latch Swap Protocol for Mercury Layer

"A latch transfer enables a statecoin to be transferred on condition of the successful payment of a Lightning network invoice. It can be used for the sale of a statecoin UTXO for an arbitrary amount of bitcoin in a private and non-custodial way without counterparty risk."

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"Lightning Latch Transfers Unlocked. We at Commerceblock been working hard on attaching spending conditions to existing statecoins," announced Nicholas Gregory.

"With Mercury Layer's blinded servers, we can now leverage Hodl invoices to lock funds until a payment hash pre-image is revealed. This allows users to atomically sell assets like ordinals or BTC by releasing the associated statecoin upon Lightning payment."

"The possibilities are endless! Ordinal artists, merchants, instant lightning liquidity providers can leverage this for new use cases. Lightning Latch Transfers open up a world of opportunities on @mercurylayer. "

Here's how developers explain it:

Chatting with the Dr @TTrevethan about why to build lightning latch on @mercurylayer #bitcoin #layer2 pic.twitter.com/CKVG9aHTQ6
— Nicholas Gregory (@gregory_nico) March 15, 2024

On potential use cases:

Use cases for lightning latch with @TTrevethan on @mercurylayer #Bitcoin #Layer2 pic.twitter.com/321brNHK4N
— Nicholas Gregory (@gregory_nico) March 15, 2024