We’re happy to announce that BTC++ is now fully supported at Jelly Swap starting from today.
I’ll try to give a brief description of what Jelly is and who are we as a team.
Jelly is a super simple-to-use application that allows anyone to swap assets between heterogeneous chains in a non-custodial way. So you can now swap BTC++ for BTC and vice versa without the need to trust a third party.
This is Jelly =>
To achieve the best possible security and transparency we are using atomic swaps. For those who don’t know what that is, I’ll give the most cliche example using Alice and Bob (of course):
Suppose Alice is interested in converting 1 BTC to an equivalent ETH with Bob. She submits her > transaction to Bitcoin’s blockchain. During this process, Alice generates a number for a cryptographic hash function to encrypt the transaction. Bob repeats the same process at his end by similarly submitting his transaction to the Ethereum blockchain.
Both Alice and Bob unlock their respective funds using their respective numbers. They have to do this within a specified timeframe or else the transfer will not take place.
Jelly handles all the calculations and encryption for the users. To make things even easier, we’ve developed an automated market making software called Butler:
This is Butler =>
Butler allows anyone to provide liquidity in very simple and non-custodial way. So, Jelly’s users are actually swapping against people running a Butler instance. The cool thing about Butler is that you can set your own fees and you can provide only 1 asset (e.g. for BTC-BTC++ pair you can provide only the BTC++ side).
Currently all Liquidity providers receive up to 1.5%/month
The liquidity and the providers can be tracked here: https://stats.jelly.market/ (mobile UNFRIENDLY )
We’ll be happy if any of you wants to start providing liquidity for BTC-BTC++. We will provide all the support (if needed).
About the team:
We are a small team (5 people) based in Bulgaria (small country in Southeastern Europe). Most of us are into crypto/blockchain since the beginning of 2016. My co-founder and I were building a decentralized exchange called WeiDex back in 2017, but by the time it went live, Uniswap just popped up so we were basically f*cked up
The idea for Jelly came to life at the end of 2018 because everyone was asking us, “I want to use Bitcoin in WeiDex, how can I do that”. We’ve been working ever since on Jelly full time and we went on the mainnet February this year after been on the testnet for ~5 months.
We have two seed investors - Aeternity and OmiseGo and that’s how we live day to day.
Would love to answer any questions or discuss everything with you all.