Magma Announcement, @jackmallers style:

Yo. Today I am extremely excited to finally announce the biggest release that Amboss has ever been a part of. Our announcement of Magma brings us one step closer to a more fair and honest financial system.
You don’t need to wear a fancy suit or work on Wall Street in order to have access to the world’s most important financial innovations of our lifetimes.
Magma works with a flat structure. Anyone can participate using off-the-shelf, hobbyist computer hardware. You can now access the types of risk-free returns that the suits could only dream of (nearly risk-free, the lawyers made me say this).
You can even wear a hoodie, like me, and still be an integral part of this open monetary network.

Much love

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More from @ambosstech

Apr 26
Lightning needs an easy solution to getting connected. For this, we built Magma 🌋.

Want to buy a channel? ✅
Want to sell channels? ✅

It's now a simple process for anyone that has a lightning node and one active ⚡️channel.

Pay lightning, get a lightning channel. 🧵👇
Magma is a peer-to-peer marketplace for channels on the lightning network.

We've made a simple smart contract by adding a touch of friction to a normal lightning payment. Once the purchased channel is confirmed, Amboss releases the peer's lightning payment, minimizing trust.
We've included promises in each channel sale for duration and routing fee settings. We'll monitor each channel closely and track performance for reputation.
This keeps the marketplace honest and beginner-friendly.
Zero fee routing? ✅
Zero base fee? ✅
6 month promise? ✅
Read 6 tweets

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