** I have no connection with them.
In brief:
- Liquidity: You can use the Omni layer to create secure Omni assets aware "for example, users can create channels for USDT" by bitcoin (in this case bitcoin works as a guarantee) and then you can use those USDT (or any stablecoins) faster and cheaper.
- These will be attempted to be compatible with Lightning nodes located around the world.
Note: OmniBOLT are not tokens but all tokens are issued on Omnilayer, the OmniBOLT network enters through the supported channels, and is locked in the main chain.
It looks good and a way to liquefy BTC outside the chain.
The idea may be a basis for how exchange platforms work in the future. You can create future funded channels using Bitcoin LN off-chain layer, and then you will have a channel that enables you to atomic exchange across channels for different assets or making decentralized exchange on top of lightning channels (fast exchange with zero fees.)
Architecture
Advantages of OmniBOLT
1. Technical ready. OBD testnet is online in May, 2020, and client API, which are highly similar to lnd client, is releasing, so that integration costs will be minimal;
2. Instant payment of smart assets issued on OmniLayer and Etherium(soon future) with the natural advantage of lightning theory.
3. Cross channel atomic swap of different assets.
4. Decentralized exchange on top of lightning channels with quick exchange speed and almost zero fee.
5. Collateral Lending Contract and more flexible contracts for various DeFi scenarios based on atomic swap, without any extra cost of transaction fee or any intermediary;
1. Technical ready. OBD testnet is online in May, 2020, and client API, which are highly similar to lnd client, is releasing, so that integration costs will be minimal;
2. Instant payment of smart assets issued on OmniLayer and Etherium(soon future) with the natural advantage of lightning theory.
3. Cross channel atomic swap of different assets.
4. Decentralized exchange on top of lightning channels with quick exchange speed and almost zero fee.
5. Collateral Lending Contract and more flexible contracts for various DeFi scenarios based on atomic swap, without any extra cost of transaction fee or any intermediary;
Read more and Source ---> https://medium.com/@omniboltofficial/omnibolt-smart-asset-lightning-network-off-chain-contract-system-919f25f4f056
Github ---> https://github.com/omnilaboratory/OmniBOLT-spec
[1] https://github.com/omnilaboratory/OmniBOLT-spec