View source for LN Markets

== Basics ==
* Started in: [https://defiprime.com/lnmarkets 9-2019]
* [[Mainnet]] release: [https://defiprime.com/lnmarkets 11-3-2020]
* Based in: France
* A type of [[Bitcoin]] [[derivatives]] trading platform, one that can [https://defiprime.com/lnmarkets only] be accessed via the [[Lightning Network]].
== History ==
* From [https://defiprime.com/lnmarkets this] [[DeFi Prime]] interview (6-11-2020):
''"After several years of working in financial markets, I found out about [[Bitcoin]] while I was living in Hong Kong in 2013. At that time, a Bitcoin ATM opened in my street, I purchased some, did my first Bitcoin [[transactions]], and quickly realized how elegant and efficient Bitcoin was compared to my bank account. That’s how I got into Bitcoin and started to really want to understand it, along with my friend Côme, who was working as an FX trader there.''

''We came back to France at the same time during summer 2015, and since we shared this passion, we decided to go full time on it, and we set up a lab to explore Bitcoin and blockchain protocols. We were quickly joined by Victor, our CTO. Our quest to get a holistic view of how Bitcoin could reshape finance led us to the idea behind [https://lnmarkets.com/ LN Markets]."''

== Audits & Exploits ==

*[[Bug bounty]] program can be found [insert here].

=== Bugs/Exploits ===
== Governance ==
=== DAO ===
=== Treasury ===
== Token ==
=== Launch ===
=== Token allocation ===
=== Utility ===
=== Token Details ===
=== Stablecoin ===
== Technology ==
* [[Whitepaper]] can be found [insert here].
* Code can be viewed [insert here].
* Built on: [[Bitcoin]], [[Lightning Network]] 
=== How it works ===
* From [https://defiprime.com/lnmarkets this] [[DeFi Prime]] interview (6-11-2020):
''"Trading is done directly from any Lightning [[wallet]] and enables super fast access to [[derivatives]] markets. Open a position by making a Lightning transaction, close the position and receive the money directly in your wallet. The first product available is a Contract For Difference (CFD) derivative product tracking the BTC-USD price. Margin positions are funded using Lightning Network transactions."''

=== Fees ===

=== Upgrades ===

=== Staking ===
=== Liquidity Mining ===
=== Scaling ===
=== Different Implementations ===
=== Interoperability ===
=== Other Details ===
== Oracle Method ==
== Privacy Method ==
== Compliance ==

* From [https://defiprime.com/lnmarkets this] [[DeFi Prime]] interview (6-11-2020):
''"We are working on a regulatory framework that could enable us to raise these limits while maintaining the same trading experience for our users."''
== Their Other Projects ==
=== LN Clear ===

* From their [https://lnmarkets.substack.com/p/22-march-3rd-2021?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjozMjg4OTEzMywiXyI6IkpCMVhpIiwiaWF0IjoxNjE0OTQyNzMyLCJleHAiOjE2MTQ5NDYzMzIsImlzcyI6InB1Yi0zNTcyNiIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.deyPUE2kh2zVqGPfqNBmmlAINqKREmM newsletter] (3-3-2021):

''"Our next move is the launch of [https://research.ito.am/ln-clear/ LN Clear], a [[non-custodial]] clearing for [[Over The Counter (OTC)|OTC]] [[derivatives]] for brokers, traders and market makers. LN Clear is a private network of payment channels where trading firms can meet their peers to trade and clear instantly OTC derivatives. LN Clear ensures that the whole process from trade confirmation to final settlement is secure, fast and simple."''
== Roadmap ==
* Can be found [Insert link here].
* From [https://defiprime.com/lnmarkets this] [[DeFi Prime]] interview (6-11-2020):
"''In the next few months, we will continue the integration of LN Markets to various interfaces such as other Lightning wallets. We will also add more products for trading such as options.''

''We also closely follow the developments of the RGB protocol that will enable the instant trading of a [[stablecoin]] like [[Tether]]. We will certainly first use Tether on Lightning to list USD-denominated products."''
== Usage ==
* From [https://defiprime.com/lnmarkets this] [[DeFi Prime]] interview (6-11-2020):
"''Because the product is still in alpha, the maximum margin per position is limited to 0.01 BTC. Despite the small-trade size, LN Markets users have executed more than 35,000 trades, aggregating over $15 million of volume since last Spring."''

* From their [https://lnmarkets.substack.com/p/22-march-3rd-2021?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjozMjg4OTEzMywiXyI6IkpCMVhpIiwiaWF0IjoxNjE0OTQyNzMyLCJleHAiOjE2MTQ5NDYzMzIsImlzcyI6InB1Yi0zNTcyNiIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.deyPUE2kh2zVqGPfqNBmmlAINqKREmM newsletter] (3-3-2021):

''"Overall, we have processed (despite a trading limit of 0.01 BTC):''

''✨ 150,000 trades''

''⚡ 100,000 [[Lightning Network|Lightning]] transactions''

''💥 $100Mio in Aggregate Trading Volume"''

* From their [https://lnmarkets.substack.com/p/22-march-3rd-2021?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjozMjg4OTEzMywiXyI6IkpCMVhpIiwiaWF0IjoxNjE0OTQyNzMyLCJleHAiOjE2MTQ5NDYzMzIsImlzcyI6InB1Yi0zNTcyNiIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.deyPUE2kh2zVqGPfqNBmmlAINqKREmM newsletter] (29-7-2021):

''"$200 million in aggregate trading volume since our launch last March 2020."''

=== Projects that use or built on it ===
== Competition ==
== Coin Distribution ==
== Pros and Cons ==
=== Pros ===
=== Cons ===
== Team, Funding, Partnerships, etc. ==
=== Team ===
* Full team can be found [here].
* [[Romain Rouphael]]; co-founder
* Victor; CTO
=== Funding ===
* From [https://defiprime.com/lnmarkets this] [[DeFi Prime]] interview (6-11-2020):
"''Last July, we secured a pre-seed funding round with [[Bitfinex]], [[Arcane Crypto]] and [[Fulgur Ventures]], three investors who are strongly committed to the growth of the Lightning Network ecosystem and who will certainly help us accelerate our development and offer new trading experiences to our users.''

''Our business model is simple. We quote a bid-offer on our platform and charge 0.1% fee per trade. There is no funding rate, no maintenance margin, no complex fee structures."''

=== Partners ===